Ghana’s trade with Singapore hits impressive $215 million
Ghana’s trade with Singapore has reached an impressive $215 million, and President John Dramani Mahama is targeting billion-dollar growth.
Speaking at the 8th Africa-Singapore Business Forum in Singapore, President Mahama emphasized Ghana’s potential as a reliable gateway to the African continent.
Africa’s Growing Market
John Mahama highlighted Africa’s dynamic emerging market, with 1.4 billion people, rapid urbanization, and increasing digital connectivity.
By 2030, Africa’s cities will host over 700 million consumers, presenting vast opportunities for investors.
The African Continental Free Trade Area (AfCFTA) has created a $3.4 trillion market, lowering barriers across supply chains.
Investment Opportunities
Ghana offers a stable platform for investment, with a rules-based environment, a double taxation agreement with Singapore, and a growing base of Singaporean investors.
Mahama invited investors to test the readiness during his state visit, showcasing bankable projects and providing direct access to regulators.
24-Hour Economy
Mahama introduced Ghana’s “24-Hour Economy” concept, designed to boost productivity, exports, and jobs.
The economy will operate round-the-clock shifts, leveraging the Volta Economic Corridor, agro-industrial parks, and tourism initiatives. Catalytic projects in health, energy, and industry will complement this strategy.
Key Projects
Some notable projects include:
– Volta Economic Corridor: Integrated development with year-round farming, agro-industrial parks, tourism, and logistics.
– Grow24: Irrigating over 2 million hectares for year-round farming.
– Make24: Agro-industrial parks for textiles, pharmaceuticals, and food processing.
– Show24: Tourism and hospitality along Lake Volta.
– Connect24: Transforming Lake Volta into a cost-efficient inland transport spine.
Investment Invitation
President Mahama extended an invitation to Singaporean investors to partner with Ghana, emphasizing the country’s stability, reform-mindedness, and connection to the AfCFTA.
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