President John Dramani Mahama has unveiled a new Ghana–Singapore deal team designed to catalyze investment and attract at least US $100 million in fresh funding from Singaporean investors.
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The announcement marks a strategic effort to elevate Ghana’s economic profile and deepen South-South cooperation.
A Bold Economic Initiative
During a recent state visit to Singapore, President Mahama stressed Ghana’s readiness to foster stronger commercial ties and secure transformative investments. The newly formed deal team—comprising senior government officials, investment strategists, and business development experts—will lead negotiations, present investment-ready projects, and facilitate partnerships with Singaporean firms.
Why Singapore—and Why Now?
Trade between Ghana and Singapore has been steadily increasing, surpassing US $215 million in 2024. This upward trend prompted President Mahama to target US $1 billion in bilateral trade, signaling Ghana’s ambition to elevate its economic engagement with Asia.
Singaporean companies are already well-represented in Ghana, with 69 registered firms cumulatively holding over US $2 billion in investments. Ghana’s investment appeal is reinforced by its political stability, access to the African Continental Free Trade Area (AfCFTA) market, and its strategic standing as host of the AfCFTA Secretariat.
Strategic Pillars of Ghana’s ‘Open for Business’ Vision
At the Africa–Singapore Business Forum, Mahama laid out Ghana’s flagship development strategy. It features four core pillars designed to boost growth, productivity, and investor confidence:
- Grow24: Irrigation of over 2 million hectares of farmland for continuous agricultural output.
- Make24: Establishing agro-industrial parks focused on textiles, pharmaceuticals, and processing.
- Show24: Development of tourism attractions along the scenic Lake Volta corridor.
- Connect24: Transforming Lake Volta into a cost-effective inland transport system to enhance logistics and reduce trade costs.
These initiatives reflect Ghana’s shift towards a 24-hour economy—aiming to enable factories, farms, and services to operate around the clock, enhancing productivity and private sector engagement.
Green Economy and Fintech: Growth Drivers
Ghana’s agenda also places emphasis on green economy cooperation and fintech development. During his Singapore visit, President Mahama highlighted partnerships in carbon markets and agro-processing. Ghana is notably the first African nation to sign an implementation agreement on carbon credits with Singapore, creating a foundation for sustainable investment flows.
Additionally, Ghana is exploring innovations in cross-border payments, digital identity systems, and financial infrastructure, drawing on Singapore’s expertise in fintech and logistics. These initiatives are poised to expand economic opportunity and improve integration within regional supply chains.
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Government Reforms and Investor Confidence
To ensure a favorable business climate, Ghana is advancing regulatory reforms, including:
- Reviewing the Investment Promotion Act to eliminate minimum capital requirements for foreign investors.
- Presenting a one-stop investor concierge service through the Ghana Investment Promotion Centre (GIPC) for streamlined business approvals.
- Rolling out investment opportunity maps for sector-specific guidance and data-driven decision-making.
These reforms reinforce Ghana’s status as a politically stable, investor-ready nation entrusted with confidentiality, transparency, and efficient governance.
Strategic Significance of the Deal Team
The Ghana–Singapore deal team is more than an investment vehicle—it’s a symbol of Ghana’s renewed commitment to economic modernization. The team will bridge institutional knowledge, regulatory reforms, and market-ready investment propositions to deliver real projects and job opportunities.
For Singaporean investors, this initiative offers access to Africa’s most dynamic markets, built on fairness, accountability, and a growing economic vision. Ghana is positioning itself as a gateway for modern, mutually beneficial economic partnerships across the continent.
