KEY POINTS
- President Akufo-Addo calls on Chinese investors to boost Ghana’s economic growth.
- Ghana has been China’s largest African trading partner since 2015.
- The President highlighted investment opportunities in agriculture, manufacturing, and green energy.
Ghanaian President Nana Addo Dankwa Akufo-Addo has called on Chinese investors to join Ghana’s economic transformation journey.
Speaking at the China-Ghana Business Forum in Shenzhen, he outlined investment opportunities across various sectors, urging the Chinese business community to deepen their engagement with Ghana.
Strengthening Ghana-China economic relations
Addressing a gathering of Chinese business leaders, President Akufo-Addo emphasized the longstanding relationship between Ghana and China. He noted that China has been Ghana’s largest trading partner since 2015, with bilateral trade reaching $9.23 billion in 2023.
According to a report by Graphic Online, the President highlighted opportunities in key sectors, including manufacturing, agriculture, and green energy, and urged Chinese investors to capitalize on Ghana’s stable and secure environment.
In his speech, Akufo-Addo acknowledged global challenges such as the COVID-19 pandemic and the Russia-Ukraine war, stating that they revealed structural weaknesses in African economies.
He called on Chinese businesses to partner with Ghana in creating resilient, climate-conscious, and diversified economies capable of withstanding future global shocks.
Ghana’s progress and investment opportunities
President Akufo-Addo highlighted several of Ghana’s economic achievements under his leadership. He noted that between 2017 and 2020, Ghana’s economy grew at an average rate of 7 percent annually.
Despite setbacks caused by the pandemic, he expressed optimism about the country’s economic future, pointing to the Ghana CARES ‘Obaatampa’ Programme.
This initiative, designed to revitalize Ghana’s economy post-pandemic, aims to attract private sector investments in agriculture, housing, and healthcare. The President invited Chinese businesses to participate in these key sectors.
Additionally, Akufo-Addo outlined other significant initiatives aimed at boosting industrialization and economic development. He mentioned the “Planting for Food and Jobs” program, efforts to expand Ghana’s automotive sector, and plans to develop integrated bauxite and iron industries.
However, these projects align with the government’s goal of transforming Ghana from an exporter of raw materials to a value-added, industrialized economy.
Positioning Ghana as a trade hub
The President also highlighted Ghana’s strategic role in African trade. As the host of the African Continental Free Trade Area (AfCFTA) Secretariat, Ghana serves as a gateway to the continent, offering Chinese businesses access to regional markets.
Moreover, Akufo-Addo emphasized that Ghana’s stable regulatory environment, favorable fiscal policies, and abundant natural resources make it an ideal destination for foreign investment.
In closing, President Akufo-Addo urged Chinese investors to seize the opportunity to form lasting partnerships with Ghana.
Also, he reiterated the government’s commitment to fostering strong economic ties and emphasized that deeper collaboration between the two nations would lead to shared prosperity.
