Foreign direct investments (FDIs) into Ghana for the last quarter of the year 2016 will be relatively slow.
The slow pace of investments into the country will due to the November general elections.
According to some investors in Ghana, though businesses witnessed impressive performances in the first quarter of 2016, the uncertainty surrounding the election will make it unattractive to engage in business activities.
The Senior Commercial Officer at the US Department of Commerce, Paul Taylor was optimistic of a rebound in foreign investments beginning next year.
“More than one US companies have told me that this year there will be only three quarters for companies in Ghana because during there will be slow months for business in the last quarter especially due to the upcoming election which will divert attention to political activities so companies are trying to pack all of their activities into three quarters,” he told Citi FM, an Accra-based radio station.
Meanwhile the foreign businesses have reported of steady growth following a relative stability in the country’s power sector as well as an improved performance of the local currency,
“The first quarter of this year was pretty good; it was actually relatively good for US companies, they have seen increased sales in some cases; they have seen a reduction in the power problems that they’ve suffered previously,” Paul Taylor added.