President John Dramani Mahama has announced that Ghana has secured an additional grant of 200 million Yuan (RMB) from the Chinese government, following bilateral discussions with President Xi Jinping in Beijing.

The latest support brings China’s total grant commitment to Ghana to 400 million RMB, equivalent to approximately $55 million, dedicated to major infrastructural projects including the construction of the Aflao Market and the renovation of the National Theatre in Accra.

The new agreement forms part of President Mahama’s broader economic transformation vision under his Resetting Ghana Agenda, which aims to revive key sectors of the economy through infrastructure, trade facilitation, and job creation.

According to President Mahama, the Aflao Market project will serve as a major regional trading hub, strategically linking Ghana and its eastern neighbour, Togo, and enhancing cross-border commerce along the West African corridor.

The bilateral talks between President Mahama and President Xi also focused on strengthening economic and diplomatic ties between the two nations.

President Mahama revealed that both governments are working toward finalising a Zero Tariff Policy by the end of October, a move expected to boost Ghana’s export competitiveness and attract more Chinese investors into the Ghanaian market.

On the issue of mining, the two leaders discussed implementing stricter but supportive frameworks to promote responsible and licensed small-scale mining in Ghana.

This initiative aligns with the ongoing efforts to curb illegal mining activities—known locally as galamsey—while ensuring environmental sustainability and the formalisation of artisanal mining.

China also expressed strong interest in Ghana’s 24-Hour Economy Initiative and Green Transition Policy, both of which are core pillars of Mahama’s new development agenda.

The Asian giant, a global leader in renewable energy and green technology, is positioning itself as a key partner in supporting the industrial and energy transition plans.

During the high-level engagement, President Mahama reaffirmed Ghana’s adherence to the One China Policy and pledged continued cooperation with Beijing in its efforts to promote a new global governance framework championed by President Xi.

The latest grant and renewed partnership underscore the deepening diplomatic and economic relations between Ghana and China, a relationship that has seen significant growth over the past two decades through trade, infrastructure development, and technology cooperation.