President John Dramani Mahama has revealed that trade between Ghana and Singapore reached over $215 million in 2024, reflecting a growing trend of deeper economic ties between the two countries and the wider African continent.

Speaking at the opening of the 8th Africa–Singapore Business Forum in Singapore on August 26, 2025, President Mahama said the next milestone should be to push bilateral trade into the billion-dollar range.

“Ghana–Singapore trade has also grown, reaching over US$215 million in 2024. Africa–Singapore trade rose by about 50 per cent between 2020 and 2024 to nearly US$14 billion, with West Africa accounting for more than half of that,” he stated.

Highlighting Africa’s economic potential, President Mahama positioned Ghana as a gateway to the continent’s opportunities.

“I speak today as an African leader and as President of Ghana. Our message is simple: Africa is investable, and Ghana is your reliable gateway to the continent. The continent is the world’s most dynamic emerging market,” he said.

He pointed out that Africa’s population of 1.4 billion, combined with rapid urbanization and digital adoption, presents a vast consumer market. “By 2030, Africa’s cities will host more than 700 million consumers,” he added.

The president also underscored the significance of the African Continental Free Trade Area (AfCFTA), describing it as the largest free trade area in the world by number of participating countries.

“This has created a $3.4 trillion market and lowered barriers across supply chains,” he said.

Mahama further highlighted the continent’s untapped opportunities in renewable energy, mobile money, and fintech, areas where Africa is already showing global leadership.

“Africa holds vast renewable energy potential and is already a global leader in mobile money and fintech adoption. This is a market ready for scaled solutions. Yet this opportunity must be matched with capital at the right price and with the right instruments,” he concluded.