FDI rises from $624m to $2.62bn as Tema industrial activity picks up – Mahama

President John Mahama highlighted the resurgence of Ghana's Tema industrial zone, boasting a significant surge in foreign direct investment (FDI) from US$624 million in 2024 to US$2.62 billion in 2025. At the inauguration of Nestlé Ghana's expanded evaporated milk production line in Tema on Thursday, Mahama emphasized the renewed industrial activity as a key indicator of Ghana's economic recovery.

He attributed the improvement in the business and macroeconomic environment for attracting additional capital to the Ghanaian economy. Mahama noted the expansion of Tema Port and the resumption of operations at the Tema Oil Refinery, alongside the government's efforts to revive the Volta Aluminium Company (VALCO), as evidence of increased industrial engagement in the enclave.

He further cited the stabilization of inflation and interest rates, with the inflation rate dropping to around 5.2% and interest rates declining, as positive economic indicators. The strengthened cedi also played a role in bolstering investor confidence. Mahama underscored that improved macroeconomic conditions can sway international companies' decisions to invest in Ghana, using Nestlé's expansion as a testament to growing private-sector faith in the nation's long-term prospects.

Despite these advancements, Mahama cautioned that businesses must still account for currency risks in their investment decisions. He tied the renewed interest in Tema to the government's Reset Agenda, aimed at revitalizing productive sectors of the economy and fostering investment.