The International Finance Corporation (IFC) has unveiled plans for a $600 million investment in Ghana’s private sector, focusing on expanding the country’s garment and agro-processing industries.
The initiative aims to accelerate job creation and stimulate economic growth across the nation.
Speaking during his parliamentary visit, the IFC Country Director, Mr. Kyle Kelhofer, stated the organisation’s commitment to strengthening Ghana’s industrial capacity.
“Our investment strategy targets both international and local private sector development,”
Mr. Kelhofer said, adding that the recent success in the garment industry was a clear evidence of Ghana’s growing industrial potential, particularly in creating employment opportunities for women.
According to him, the investment marks a significant increase from IFC’s 2024 contribution of $450 million and the growing confidence in Ghana’s economic potential.
The report by Daily Graphic on Tuesday quoted Mr Kelhofer as saying that the funding would support various industrial initiatives, including development zones and agricultural processing facilities throughout the country.
Responding, the Majority Leader in Parliament, Mahama Ayariga, endorsed the investment plan, acknowledging the crucial role of private-sector partnerships in achieving the government’s economic objectives.
“With growing financial constraints facing governments, partnerships like these are essential for job creation and economic growth,” Ayariga stated.
GIK/APA