Some foreign investors have hinted to Citi Business News investments into Ghana for the rest of this year, especially in the last quarter of the year, will be relatively slow.
Citi Business News has learnt the slow pace of investments into Ghana will be because of the November general elections.
According to them, 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.
Speaking to Citi Business News, Senior Commercial Officer with the US Department of Commerce, Paul Taylor said he 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 stated.
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.
By: Pius Amihere Eduku/citibusinessnews.com/Ghana