KEY POINTS
- Ghana-Singapore trade growth hit $215 million in 2024.
- Mahama unveils “24-Hour Economy” to boost productivity and jobs.
- Ghana pitches AfCFTA gateway advantage to Singaporean investors.
Ghana’s President John Dramani Mahama said trade between Ghana and Singapore climbed above $215 million in 2024, and he is now aiming for billion-dollar volumes as his government seeks to expand economic ties with Asia.
Speaking at the 8th Africa–Singapore Business Forum in Singapore, Mahama framed Ghana as a stable platform for regional investment and a reliable entry point into the $3.4 trillion African Continental Free Trade Area (AfCFTA).
“Africa is investable, and Ghana is your gateway,” he told a gathering of government officials and business leaders. “We are 1.4 billion people—young, urbanizing, digitally connected—and by 2030 our cities will host over 700 million consumers.”
Africa–Singapore trade grew nearly 50 percent between 2020 and 2024, reaching about $14 billion, with West Africa accounting for more than half of the total, according to Mahama. He said the momentum shows the scale of opportunity if Asian businesses deepen their presence in Africa.
Mahama pitches 24-hour economy to investors
Mahama spotlighted Ghana’s new “24-Hour Economy” model, which seeks to anchor growth on productivity, exports and jobs. At its core is the Volta Economic Corridor, a development blueprint linking irrigation, agro-industrial parks, ports and logistics hubs to drive round-the-clock operations.
“Our proposition is straightforward: a stable, reform-minded country, connected to the AfCFTA, designed for scale,” Mahama said. “We are reforming our investment climate by simplifying regulations, easing capital requirements, and introducing a one-stop investor concierge service.”
He highlighted catalytic projects in health, industry and energy, including Legon Pharmaceutical Park, Kumasi Technology Park, and renewable energy corridors.
Ghana, he added, is reducing inflation, stabilizing its currency, and improving credit outlooks to restore both domestic and international investor confidence.
According to MyJoyOnline, Mahama invited Singaporean companies to a presidential roundtable, showcasing bankable projects, investment incentives, and strategic partnership opportunities. “Put Ghana’s readiness to the test,” he told investors.
