By: Ashiadey Dotse
President John Dramani Mahama has revealed that trade between Ghana and Singapore reached more than $215 million in 2024, adding that 69 Singaporean companies are already operating in Ghana, with investments exceeding $2 billion
Speaking at the opening of the 8th Africa–Singapore Business Forum on Tuesday, August 26, 2025, President Mahama said Ghana remains a “reliable gateway” to the African Continental Free Trade Area (AfCFTA) and a trusted partner for investors. He noted that Africa–Singapore trade as a whole rose by about 50 percent between 2020 and 2024 to nearly $14 billion, with West Africa accounting for more than half.
Highlighting Ghana’s role as host of the AfCFTA Secretariat, the President said the country provides investors with access to more than 400 million consumers through the ECOWAS market
President Mahama also outlined Ghana’s economic reforms and flagship “24-hour economy” strategy, which aims to make factories, farms, ports, and service centres run efficiently round-the-clock. He said the policy is anchored on four pillars: Grow24 (year-round farming), Make24 (industrial parks), Show24 (tourism development), and Connect24 (Lake Volta transport system).
He assured investors that Ghana’s economy is on a path of recovery, with inflation easing, the cedi stabilising, and international rating outlooks improving. The Ghana Investment Promotion Centre, he said, now provides credible data and detailed maps of investment opportunities across sectors and regions.
Describing Singapore as a key partner for Africa, President Mahama praised its strengths in finance, logistics, and technology, urging deeper South–South cooperation. He called for reforms to the global financial system, noting Africa’s $1.3 trillion annual financing gap and stressing the need for new partnerships to drive development.
President Mahama concluded that Ghana offers investors a stable and reform-minded environment, connected to the AfCFTA, with opportunities in agribusiness, energy, manufacturing, tourism, and digital innovation.
More Stories Here
