It’s a good time to invest in Ghana – EU Ambassador
The European Union Ambassador to Ghana, Rune Skinnebach, has described the current period as a promising time for investment in Ghana, citing the country’s political stability, deepening partnership with the EU, and ongoing economic reforms.
Speaking to journalists at the Kwame Nkrumah University of Science and Technology (KNUST) after delivering a keynote address on scholarship opportunities in European Union universities, Ambassador Skinnebach said Ghana remains one of the most attractive investment destinations in West Africa.
“Now it’s a very good time to be in Ghana,” he said. “We have over a billion euros of Global Gateway investments already in Ghana. We have peace and stability, and everything is going in the right direction.”
He explained that the European Union continues to strengthen its cooperation with Ghana through investment, development support and strategic partnerships. According to him, the EU is currently Ghana’s largest export market, biggest development partner and one of its key investors.
Ambassador Skinnebach noted that since 2022, the EU has implemented its Global Gateway Investment Package for Africa, a 150-billion-euro initiative aimed at boosting infrastructure development, financing and private sector growth across the continent.
He said Ghana stands to benefit significantly from the initiative if it sustains a stable macroeconomic environment and maintains an investor-friendly business climate.
“It’s an offer, and Ghana has to make itself attractive to benefit from it,” he said.
“The country must ensure political and macroeconomic stability, a business-friendly climate, functioning infrastructure, and strong legal frameworks that attract European investors.”
He cautioned that while Ghana remains competitive, neighbouring countries could attract investors if they provide more favourable conditions.
“If these conditions are better elsewhere, then European investors will naturally move to neighbouring countries,” he added.
During his engagement with students at KNUST, Ambassador Skinnebach emphasised the importance of interacting with young people, describing them as central to Ghana’s present and future development.
“Whenever we go somewhere, we always try to meet young people,” he said. “Young people are the reality of Ghana today, and also the future of Ghana.”
He added that such engagements help the EU better understand the aspirations of young people and shape future cooperation.
Ambassador Skinnebach also commended Ghana’s democratic record, describing it as one of the strongest in the region due to its consistent peaceful elections since the return to constitutional rule in 1992.
However, he stressed that sustaining economic stability remains a key challenge, particularly during election periods.
He observed that Ghana’s recent economic performance has been supported by favourable global gold prices and ongoing reforms, but questioned whether there would be sufficient political commitment to maintain fiscal discipline over the long term.
“The question is whether there will be enough willingness to maintain the reforms and a sustainable expenditure policy as elections approach,” he noted.
On regional security, the EU Ambassador described Ghana as “a peaceful and stable island in very unruly waters,” citing instability in parts of the Sahel and neighbouring countries.
He reaffirmed the European Union’s commitment to supporting Ghana in maintaining peace, security and democratic governance.
The remarks come as Ghana and the European Union continue to deepen bilateral cooperation through new agreements in areas such as forestry, peace and security, and defence collaboration. Ambassador Skinnebach said recent engagements between both sides reflect steadily strengthening relations.
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