Ghana is the largest recipient of Foreign Direct Investment in ECOWAS

February 20, 2020 1:53 PM

Ghana’s President, Nana Addo Dankwa Akufo-Addo has said that the country is the largest recipient of Foreign Direct Investment in West Africa today.

Ghana is the largest recipient of Foreign Direct Investment in ECOWAS, here's how

According to him, the massive vote of confidence in the current management of the economy is best illustrated by Ghana successful of the longest-dated Eurobond ever issued by a sub-Sahara African country, with investors placing US$15 billion of orders for Ghana’s 41-year Eurobond.

He said, “The international investor community has recognized this development, resulting in Ghana today, being the largest recipient of foreign direct investment in West Africa.”

President Akufo-Addo continued that Ghana’s economic growth has rebounded, to place the nation among the fastest growing economies in the world for three years in a row at an annual average of 7%, up from 3.4% in 2016.

He said this while delivering the State of the Nation’s Address (SONA) on Thursday, February 20, 2020.

Ghana’s 7-year Eurobond attracted the lowest coupon rates ever Ghana at 6.375%.

The President, hence noted that “No wonder Bloomberg, the reputable global financial media house, earlier this week, highlighted Ghana as the top candidate for an economic leap in Africa. This expression of confidence is important because it would lead to enhanced investments in our economy and the accompanying greater number of jobs.”