By Celestine Avi
Singapore, August 26, 2025 – President John Dramani Mahama has opened the 8th Africa-Singapore Business Forum with a call for stronger South–South collaboration, positioning Ghana as a reliable entry point for investors seeking access to Africa’s rapidly growing markets.
Delivering the keynote address as part of his three-day State Visit to Singapore, President Mahama said Ghana and Africa present vast opportunities in trade, industry, and innovation, but these must be matched with capital, technology transfer, and practical partnerships.
“Africa is investable, and Ghana is your reliable gateway to the continent,” he declared. “We are 1.4 billion people today; young, fast-urbanising, digitally connected, and by 2030, Africa’s cities will host more than 700 million consumers.”
Learning from Singapore’s Growth Story
President Mahama commended Singapore’s success in logistics, governance, and sustainability, saying Africa could benefit greatly from Singapore’s expertise.
“We are here to learn, to partner, and to deliver,” he said. “Your excellence in logistics and ports, your discipline in public administration, your devotion to a sustainable environment, and your success in cultivating skills and innovation are benchmarks we admire.”
He noted that Africa-Singapore trade has grown nearly 50 percent since 2020, reaching almost US$14 billion in 2024, with Ghana-Singapore trade contributing over US$215 million.
Global Shifts and the Need for New Alliances
President Mahama warned of rising protectionism and weakening multilateralism, saying Africa and Asia must seize the moment to secure their futures.
“The death knell of multilateralism is sounding. Tariffs and retaliatory tariffs are flying fast and furious,” he said. “In these unpredictable times, we must forge new alliances and open new opportunities. South–South collaboration is not optional; it is essential.”
Africa’s Financial and Infrastructure Gaps
As the African Union Champion on Financial Institutions, President Mahama highlighted Africa’s financing challenges.
“Africa faces an annual financing gap estimated at $1.3 trillion. Infrastructure needs alone run between $181 and $221 billion per year through 2030, and the climate finance gap is about $213 billion annually,” he said.
He revealed efforts to establish an African financial system that works for Africa, including the African Monetary Institute, a precursor to a continental central bank, and the African Exchanges Linkage Project to connect 10 major stock markets for improved liquidity.
Ghana’s Catalytic Projects
President Mahama outlined flagship projects designed to attract private capital and create jobs, citing the Legon Pharmaceutical Innovation Park, Kumasi Machinery and Technology Park, Akosombo-Juapong Garments and Textiles Park, Digital TVET Centres of Excellence, and renewable energy corridors.
He said Ghana’s “Big Push Infrastructure” programme would accelerate roads, power, and digital connectivity, creating the scale needed to attract major investments.
Five Pillars of Ghana-Singapore Partnership
President Mahama proposed five key areas where Singapore and Ghana could build mutually beneficial partnerships:
- Efficient, Green Supply Chains – “Partner with Ghana to modernise ports, inland waterways and cold chains. Your world-class logistics and standards can reduce Africa’s trade costs and unlock export competitiveness.”
- Agribusiness and Food Systems – “From precision irrigation to processing and packaging, Singaporean technology and African scale can turn our farms into reliable suppliers for Asia, the Middle East and Europe.”
- Clean Energy and Carbon Markets – “Invest with us in renewable energy, waste-to-energy, regenerative agriculture and forestry. Generate high-integrity credits while delivering jobs, clean air and resilience.”
- Digital Economy and Services – “Create BPO and shared-service hubs to serve Africa from Accra, 24/7.”
- Advanced Manufacturing and Critical Minerals – “Our policy is value addition at home-battery precursors, components and downstream manufacturing, powered by clean energy and world-class standards.”
Presidential Business Roundtable Invitation
President John Mahama extended an open invitation to business leaders attending the Forum to join a Presidential Business Roundtable on the final day of his visit.
“We will showcase bankable projects, provide direct access to our regulators, outline incentives for strategic investors and offer a one-stop investor concierge so decisions can be made quickly and confidently,” he said.
Ghana’s Value Proposition
President Mahama emphasized Ghana’s stability, reform-minded policies, and role as a connector to the African Continental Free Trade Area (AfCFTA).
“Our proposition is straightforward: a stable, reform-minded country, connected to the AfCFTA, designed for scale; a 24-Hour Economy that matches your need for speed, reliability and standards; and a pipeline of investable projects in agribusiness, logistics, manufacturing, energy, digital and tourism,” he said.
The President concluded by stressing that Singaporean and African collaboration would generate jobs, diversify supply chains, and drive sustainable growth.
“When Singaporean and African firms collaborate, we will create jobs for our youth, diversify global supply chains, and drive growth in sustainability.”
