KEY POINTS
- Ghana highlights gateway role in Africa’s 1.4 billion market.
- Mahama promotes reforms to attract Japanese investors.
- Inflation falls, cedi strengthens, boosting Ghana’s appeal.
At an investment forum in Japan, Ghana’s former President John Mahama pitched his country as a prime entry point into Africa’s 1.4 billion-person market, urging Japanese businesses to seize opportunities in trade, infrastructure, and manufacturing.
Speaking at the Ghana Presidential Investment Forum on the sidelines of the 9th Tokyo International Conference on African Development (TICAD IX), Mahama described Ghana as a “stable, democratic, business-friendly gateway” to Africa, emphasizing its strong consumer market, macroeconomic progress, and investor-friendly reforms.
Gateway to Africa’s 1.4 billion market
Mahama pointed to Ghana’s hosting of the African Continental Free Trade Area (AfCFTA) Secretariat, which grants access to nearly 50 African countries under a tariff-free system.
He stressed that Ghana’s 33 million people serve as a launchpad to West Africa’s 400 million population and the wider continent.
“Through AfCFTA, you potentially can export into 1.4 billion markets,” he told business leaders, urging Japanese firms to consider Ghana their entry hub.
Mahama also highlighted macroeconomic stability, noting that inflation, which hit nearly 23 percent in 2024, has fallen to 13.7 percent and is projected to drop into single digits by year-end.
He praised the Ghanaian cedi’s performance as “the best in the world this year,” with the nation’s credit rating upgraded to B- with a stable outlook.
Ghana’s reforms attract Japanese investment interest
To attract investors, Mahama said Ghana would revise its Investment Promotion Centre Act, removing minimum capital rules for foreigners.
“This will let any investor, with even modest funds, establish a business in Ghana,” he told the audience.
He highlighted Toyota and Honda’s assembly operations in Ghana, urging them and others to expand deeper into West Africa’s market.
Mahama spotlighted opportunities in agribusiness, renewable energy, manufacturing, and digital technology as engines of future growth.
He detailed the Volta Economic Corridor project, designed to link irrigation, agro-processing, and industrial parks across fertile lands.
Ghana’s energy sector, powered by hydro, thermal, and gas-to-power projects, is expanding to support both domestic and regional demand.
According to MyJoyOnline, he also pointed to modern ports in Tema and Takoradi, including the new MPS terminal, as vital trade gateways.
Mahama said Ghana’s youthful, English-speaking workforce is fueling a fast-growing digital economy and attracting global fintech investors.
To ease concerns, he promised transparent processes, with investment approvals completed within 24 hours at the Ghana Investment Promotion Centre.
“Africa is the next frontier for investment,” he said. “Let us marry Japanese precision with Ghanaian ambition to create growth.”
