President Nana Addo Dankwa Akufo-Addo has said Ghana is the largest recipient of Foreign Direct Investment in West Africa today.
“The massive vote of confidence in the current management of the economy is best illustrated by Ghana being successful in issuing the longest-dated Eurobond ever by a sub-Sahara African country, with investors placing US$15 billion of orders for Ghana’s 41-year Eurobond.
“The international investor community has recognised this development, resulting in Ghana today, being the largest recipient of foreign direct investment in West Africa”, the President said in his fourth State of the Nation Address on Thursday, 20 February 2020.
Continuing, he said 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.
The 7-year Eurobond attracted the lowest coupon rates ever at 6.375%.
“No wonder Bloomberg, the reputable global financial media house, earlier this week”, the President noted, “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.”
Ghana’s economy recorded a GDP growth rate of 5.6% for the third-quarter of this year.
The 5.6 per cent growth rate was the lowest growth recorded for this year.
This is because, in the first quarter, growth peaked by 6.7 per cent, while in the second quarter it went up by 5.7 per cent.
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