IFC announces US$600 million investment in Ghana’s private sector

This significant investment aims to stimulate job creation and drive economic growth, with primary focus on the garment industry and agro-processing sectors.

Kyle Kelhofer, IFC Country Director, said, “…We are here to support the private sector, invest in the private sector, mobilise the private sector, both international and local, and to help create more and better jobs.”

Kelhofer revealed this investment plan during a courtesy call on Mr Mahama Ayariga, the Majority Leader, in Parliament on Thursday.

He reaffirmed the IFC’s commitment to working with Members of Parliament to create employment opportunities for Ghanaians.

“What you saw last week at the garment factory was an example of Ghana’s increased ability to take advantage of industrialisation to create more and better jobs… in particular for women.”

Ayariga, on his part, expressed gratitude to the IFC for its interest in engaging with his Caucus to foster collaboration and facilitate interactions on issues of national importance.

“…Clearly, the Government will be constrained in terms of financing many of the commitments we have made, so increasingly, we need to look to sources like yours and work with the private sector,” he said.

“…Parliamentarians should be at the forefront of linking industries to funding sources and shaping policies that enable industrial development.”

The investment is part of the IFC’s broader efforts to support Ghana’s economic growth, create jobs, and enhance development.

Over the past decade, it has invested over two billion dollars in Ghana, focusing on agribusiness, light manufacturing, and renewable energy among other sectors.

The IFC is an international financial institution that provides financing and advice to private sector businesses in developing countries. It is a member of the World Bank Group and is headquartered in Washington D.C., United States of America.