Ghana reports surge in FDI and targets rice self-sufficiency by 2028

Ghana is implementing several economic initiatives aimed at industrialization and food security. President John Mahama reported that Foreign Direct Investment (FDI) rose significantly from $624 million in 2024 to $2.62 billion in 2025. He cited the expansion of Nestlé Ghana’s milk production line in Tema as evidence of a stabilizing macroeconomic environment, characterized by falling inflation and a stronger cedi.

In the agricultural sector, the government has set a target to achieve rice self-sufficiency by 2028, aiming for 3.31 million metric tonnes of paddy production. To support this, the Regional West Africa Resilient Rice Value Chains Development (REWARD) Project will be launched, backed by an $18.8 million grant from the African Development Bank. The project intends to develop 3,200 hectares of land in the Northern Savannah Ecological Zone and assist over 20,000 smallholder farmers to reduce the country's annual rice import bill, which ranges between $320 million and $500 million.

Trade and industry officials have also emphasized a shift toward value addition and strategic investments to drive the national economy. The government is promoting a “24-Hour Economy” policy and infrastructure improvements to position Ghana as a primary industrial hub within the African Continental Free Trade Area (AfCFTA).