U.S owns 40% of Ghana's GDP

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July 4, 2016 11:51 PM

The Chamber emphasized the resolve of the American business community in promoting bilateral trade ties between the two countries.

Total Foreign Direct Investment from Americans into the Ghanaian economy currently stands at over $15 billion, according to the American Chamber of Commerce, Ghana.

This represents 40% of Ghana’s Gross Domestic Product, which is currently close to $40 billion.

“These companies intend to spend about US$3.5 billion in the Ghanaian economy between 2015 and 2020, and directly employ about 7,000 Ghanaians.

With US foreign direct investment (FDI) in Ghana increasing to about US$13 billion as of 2014, we at the chamber say congratulations to the various US companies which have enhanced US-Ghana economic relations with their investments,” a statement from the chamber to commemorate the 240th Independence Day of the USA said.

The statement also emphasized the role of the Chamber in creating an enabling environment for both countries to take advantage of opportunities available to grow their businesses.

The chamber recalled a survey conducted by PwC, which said 40 per cent of our members, between 2004 and 2014, invested about US$12 billion in capital and operational expenditure. The release said about US$1 billion was also paid in taxes, royalties and on corporate social responsibility over the 10-year period.

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