President John Dramani Mahama has assured international investors that Ghana is ready to play a leading role in Africa’s economic transformation by offering open markets, improved infrastructure, and a new bold strategy to attract capital.
Delivering his address at the opening of the 8th Africa–Singapore Business Forum in Singapore on Tuesday, August 26, 2025, Mahama described Ghana as the “heart of the $3.4 trillion African single market,” and encouraged investors to take advantage of the opportunities in the country and the sub-region.
According to him, the government is working to eliminate obstacles that discourage investment. He disclosed that a revised Investment Promotion Act will soon be placed before Cabinet for approval.
The proposed reforms, he explained, will remove the minimum capital thresholds required of foreign investors and make it easier for businesses to register and operate in Ghana.
The President said Ghana’s economic strategy is anchored on productivity, exports, and job creation, and will rely on modern infrastructure and private capital to unlock growth, noting that “Ghana sits at the heart of the $3.4 trillion single market. ECOWAS alone connects you to more than 400 million consumers.”
24-hour Economy
Turning to the “24-hour economy,” Mr. Mahama explained that Ghana is aligning incentives, infrastructure, and skills to ensure that factories, farms, ports, and service centers can operate safely and competitively around the clock, highlighting “Ghana is open for business 24 hours a day.”
At the heart of this plan, he noted, is the Volta Economic Corridor, which he described as Ghana’s most ambitious integrated development project to date which rests on four major pillars: the irrigation of more than two million hectares of land for year-round farming; the establishment of agro-industrial parks for textiles, pharmaceuticals, and food processing; the promotion of tourism and hospitality along Lake Volta; and the transformation of the lake into a cost-efficient inland transport route linking farms and factories to markets.
To support this, President Mahama said a “big-push infrastructure program” would accelerate the development of roads, power, and digital connectivity, all designed to attract private capital and create economies of scale.
The President also used the platform to outline five practical pillars of partnership between Ghana, Africa, and Singapore, emphasizing that Singapore’s strengths align with Ghana’s priorities, making the two countries natural partners in development.
The first area of collaboration, he said, is efficient green supply chains, noting that Singapore’s world-class logistics and standards could help Africa modernize its ports, inland waterways, and cold chains to reduce trade costs and boost export competitiveness.
The second area is agribusiness and food systems. “From precision irrigation to processing and packaging, Singaporean technology and African scale can turn our farms into reliable suppliers for Asia, the Middle East, and Europe,” Mahama told participants.
He identified clean energy and carbon markets as the third pillar, pointing to Ghana’s signing of an Article 6 Implementing Agreement with Singapore in 2024, and the establishment of a Carbon Markets Office and Ghana Carbon Registry as proof of the country’s commitment to sustainability.
Importance of advanced manufacturing and critical materials
President Mahama further stressed the importance of advanced manufacturing and critical minerals, stating that Ghana has strong manganese outputs, significant lithium potential, and prospects in graphite, gold, copper, and rare earths.
According to him, the government’s policy is to prioritize local value addition through the production of battery precursors, components, and downstream manufacturing, powered by clean energy.
“Our policy is value addition at home, powered by world-class standards,” he noted.
Changing Global Order
In closing, Mahama said Ghana was eager to learn, partner, and deliver prosperity to its people through regional and global cooperation, therefore urging participants to see the Forum’s theme, “Regional Capabilities: Charting Sustainable Growth,” as both urgent and promising.
The President reflected on the changing global order, pointing out that the optimism of globalization, which once lifted over a billion people out of poverty through the Millennium Development Goals, has given way to more transactional international relations.
“The death knell of multilateralism is sounding. Tariffs and retaliatory tariffs are flying fast and furious,” he observed.
Against this backdrop, Mahama called for stronger South-South collaboration, stressing that Africa and Singapore must take the lead in defending open markets and practical trade rules.
“In a world of tightened financial conditions, fragile supply chains, and rising protectionism, South-South collaboration is not optional, it is essential,” he emphasized.
Mr. Mahama concluded by urging Africa and Singapore to become “champions of open markets, trusted rules, and shared prosperity,” describing such partnerships as crucial for navigating the uncertainties of the global economy.
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Source: Eric Kweku Sekyi/ATLFMNEWS
