Ghana: Ghana must shift from simply attracting capital to securing productive investments that expand local production, create quality jobs, transfer technology and boost exports, the Ghana Free Zones Authority has said. Speaking at the launch of the Ghana Investment Promotion Authority's 2025 Annual Investment Report, Deputy Chief Executive Officer of the Ghana Free Zones Authority, Latif Abdul Oduro, emphasized the need for a paradigm shift in the focus of investment promotion.
According to Ghana Web, Oduro stated that the focus must increasingly move beyond merely attracting capital to attracting investments that enhance productive capacity and generate quality jobs. He highlighted the importance of ensuring that these investments lead to the development of global businesses, technology transfer, and the creation of quality employment opportunities.
Oduro further stressed the importance of industrialisation and export development in Ghana's investment strategy. He pointed out the necessity of investing in sectors such as agro-processing, pharmaceuticals, light manufacturing, and ICT to achieve these goals. By focusing on these areas, Ghana can ensure sustainable economic growth and development.
He also called for stronger links between foreign investors and Ghanaian businesses to ensure local enterprises benefit from investments through technology transfer and skills development. This, he noted, could promote local sources of technology transfer and skills enhancement, ultimately benefiting the Ghanaian economy.
Oduro concluded by asserting that access to international markets alone is not enough. Ghanaian enterprises must be able to compete on quality, cost, and reliability to succeed. The ultimate goal, he added, should be to ensure that investment translates into tangible economic benefits for Ghana, including productive enterprises, jobs, technology, increased exports, and sustainable development.