Singapore: President John Dramani Mahama has reaffirmed Ghana's investment potential in a historic three-day state visit to Singapore. 'Under my leadership, Ghana will be a trusted, open and reliable investment partner,' President Mahama stated during his keynote address at the Ghana-Singapore Business Forum in Singapore City. The Forum centered on 'Accelerating Ghana's Infrastructure for Economic Transformation'.
According to Ghana News Agency, President Mahama announced plans to introduce two significant bills to Parliament: the Revised Ghana Investment Promotion Centre (GIPC) Bill and the legal framework establishing the 24-Hour Economy Authority. The President highlighted that the revised act includes Most Favoured Nation (MFN) Treatment, Fair and Equitable Treatment (FET), and Investment Facilitation to position Ghana as a business-friendly destination on the continent. These legislative reforms symbolize the government's dedication to fostering a dynamic, inclusive, and globally competitive economy.
President Mahama emphasized that Ghana is a pro-enterprise state under his administration. The government is actively working on simplifying permits, digitizing customs, and de-risking bankable projects through viability gap funding, MIGA-backed guarantees, and ensuring the repatriation of profits and foreign-exchange convertibility. He noted that Ghana boasts a young and skilled workforce, and the government's investment in Technical and Vocational Education Training (TVET), STEM, and digital skills is aligned with industry needs, ranging from advanced manufacturing to data centers.
The President outlined Ghana's value proposition, stating, 'Ghana offers market access, a stable and reform-oriented environment, and a pipeline of bankable projects in manufacturing, agribusiness, and infrastructure-ready for investment with defined risk-mitigation and credible partners.' Priority sectors and opportunities include the Greater Accra Industrial Platforms Expansion, utilities and last-mile infrastructure for export-focused industrial parks, and a range of incentives such as Free Zones benefits and accelerated capital allowances.
In the realm of pharmaceuticals, Mahama detailed the Ghana Pharma and Medical Supplies Initiative, which includes a manufacturing cluster in Tema, co-located with logistics support and a strengthened regulatory framework by the FDA. Other notable opportunities include Automotive and e-Mobility Assembly, the Northern Ghana Irrigated Agro-Industrial Zone, and the expansion of cashew, shea, and cocoa value addition in Bono and Ashanti.
President Mahama conveyed that strategic partnerships with established traders and processors, in conjunction with AfCFTA rules of origin, create avenues to meet regional demand. He invited Singapore to join Ghana in a practical partnership to accelerate infrastructure development and help shape the growth trajectory across West Africa under AfCFTA.
He concluded by highlighting Ghana's strategic position as a regional hub, with Accra hosting the AfCFTA Secretariat and developing the necessary infrastructure to serve a market of 1.3 billion. He assured investors of Ghana's commitment to reform, macro stability, and fiscal discipline, backed by modernized revenue systems and clear frameworks for PPPs and private capital. The government has also amended the public procurement law and streamlined approvals under the GIPC Act to facilitate fast and transparent investment pathways.
