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Ghana named fourth best place to invest in Africa

Berlinda Entsie

The West African country, Ghana has been ranked fourth among top 10 best place to invest on the continent

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The West African country, Ghana, beat countries such as Kenya, Nigeria, Tanzania, Cote d’ Ivoire and Algeria.

In 2015 Ghana was seen as the fourth safe country to have attracted the highest amount of Foreign Direct Investment (FDI).

READ ALSO: Ghana drop two places in latest FIFA ranking

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Despite major economic challenges, the West African oil producing nation also ranked fourth as the country to have attracted the highest amount of Foreign Direct Investment (FDI) in 2015.

Ranked among the top five recipients according to the research company, Ghana only beat Morocco.

During the period under review, Africa as a whole attracted $54 billion in FDIs, representing a paltry 3.1 per cent of the world total FDIs.

READ ALSO: Ghana receives $ 1.2bn credit facility from the World Bank

A researcher at RMB Global Markets Research, Celeste Fouconnier says much as the outcome of the research may sound unrealistic to some Ghanaians, “it must be noted that Ghana is still enjoying a lot of goodwill among investors out there.

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“This is what the country has to leverage to be able to fix the challenges to position itself to attract more FDIs to help accelerate growth of the economy,” she said.

READ ALSO: Singapore pledges to support industries in Ghana

The research also revealed that Accra ranked number one as the African Economic Growth hotspots, beating cities such as Lagos, Abuja, Addis Ababa, Luanda, Kigali among others.

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Berlinda Entsie Berlinda Entsie Berlinda Entsie a reporter at Pulse.com.gh/bi/. She reports on all your business related issues and always ready to promote your business through amazing reportage.

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