The International Finance Corporation (IFC) of the World Bank has announced plans to invest approximately 600 million dollars into Ghana’s private sector to create job opportunities and enhance economic growth. The investment will focus on the garment industry and agro-processing sectors to support job creation and industrial development.
The Country Director of the IFC, Kyle Kelhofer, disclosed this during a courtesy call on the Majority Leader in Parliament.
“We are here to support the private sector, invest in the private sector, mobilize the private sector, both international and local, and to help create more and better jobs. And what you saw last week at the garment factory was an example of Ghana’s increased ability to take advantage of industrialization to create more and better jobs, and in garments in particular for women. “This isn’t limited to just garments. It can also be agro-processing, or other forms of industry, but we’re of the view there’s an increased opportunity. And as a result, we’ve been supporting more.
“Last year [2024], we probably mobilized, we financed approximately $450,000,000 for companies in Ghana. This year [2025], we’re targeting approximately 500 to 600,000,000 in Ghana. And whether it’s in things like the industrial zones directly, or industries or factories operating within these zones, or agro-processors operating throughout the country, helping to create more and better jobs.”
Credit: CNR