President John Mahama says Ghana’s foreign direct investment has risen from 624 million dollars in 2024 to 2.62 billion dollars in 2025, describing the increase as evidence of a more favourable investment climate.

Speaking at the commissioning and inspection of Nestlé Ghana’s expanded evaporated milk production line in Tema, President Mahama said the increase, together with falling interest rates, lower inflation and improved performance of the cedi, is helping to strengthen investor confidence.

President Mahama said the investment by Nestlé is a welcome sign of confidence in Ghana’s long-term economic prospects.

“The line before us is a welcome sign of Nestlé’s confidence in Ghana’s long-term prospects, and it aligns with the industrial ambitions of our Reset Agenda,” he stated.

He said the new production line will increase Nestlé’s annual evaporated milk production capacity from 12,960 tonnes to nearly 30,000 tonnes, representing more than a 60 percent increase.

“This is a more than 60% increase in annual production capacity, with the milk filled, homogenized, sterilized, and packed on Ghanaian soil by Ghanaian hands,” President Mahama said.

He described the investment as an example of what his government’s 24-hour economy initiative seeks to achieve.

“When we talk about the 24-hour economy initiative, this is what we are talking about. A factory that never sleeps. It works 24-7,” he said.

The President said the Nestlé factory supports approximately 1,200 full-time workers and another 1,300 third-party workers, with 94.4 percent of its employees being Ghanaian.

He also said Tema is regaining its position as Ghana’s industrial hub, citing the expansion of the Port of Tema, the return of the Tema Oil Refinery to work, efforts to revive VALCO, the progress of the Arise Industrial Enclave and expansion by industries operating in the Tema enclave.

“Kwame Nkrumah planned Tema as Ghana’s industrial city, and I am pleased to say that Tema is regaining its glory days,” he said.

President Mahama also praised Nestlé for its long-standing presence in Ghana, noting that the company has remained in the country since 1957 despite periods of economic difficulty.

“Over the last 70 years, many industries in hard times shut down and left. Nestlé has stuck it out with us,” he said.