According to the Tropical Timber Market Report the Tema Port in Ghana reported an almost 6% increase in cargo and container traffic target despite disruptions to global trade by the pandemic and disruption of domestic business due to lockdowns.
Tema Port in Ghana reported an almost 6% increase in cargo and container traffic. Photo by International Finance Corporation
Container traffic increased to about 837 919 tonnes (t) in 2020 from a target of 685 735t. Wood and wood product companies in the central and northern parts of the country ship products in containers through Tema Port. Ghana has seaports in Takoradi and Tema and both are managed by the Ghana Ports and Harbours Authority. Currently both ports are being improved to accommodate deeper drafted vessels.
Meanwhile the Ghana Investment Promotion Centre (GIPC) aims to attract USD3-billion in FDI inflows in 2021 after an impressive performance in 2020. Many countries reported a decline in FDI in 2020 but Ghana saw an increase with inflows more than doubling from USD1.1-billion in 2019 to USD2.65-billion in 2020. In 2020 the manufacturing sector recorded the largest FDI at USD1.27-billion for 57 projects. The leading sources of inward investments included those from China, the United Kingdom, South Africa, Australia, and the Netherlands.
