Assessing the role of Indian Investments in Ghana’s Economic Development

Abstract

This study examined the increasing investment of India in Ghana from 2020 to 2023 and its impact on Ghana’s economic growth. The study highlighted the total investment of US$ 238.84 million by Indian entities during this period, resulting in the registration of 69 projects. The data, primarily sourced from the Ghana Investment Promotion Centre (GIPC), illustrated the fluctuating yet substantial involvement of Indian businesses in Ghana. Notable peaks in investment and project registrations occurred in 2021, with a significant entity such as Star Cement Limited. The study underscored the critical role of investment in enhancing Ghana’s economic development. The findings suggested that Ghana's favorable investment climate and its robust economic policies, continues to attract substantial Indian investment. This study concluded with recommendations for Ghana to diversify its economy, strengthen investment promotion strategies, facilitate market access for foreign investors, and encourage public-private partnerships to sustain and further boost foreign investments.

Keywords: Investments, Growth, Projects, Economy