President John Dramani Mahama has made a compelling pitch to Singaporean investors, urging them to use Ghana as a strategic hub for doing business in Africa.
Speaking at the opening of the Africa Singapore Business Forum (ASBF), President Mahama declared, “Africa is investable and Ghana is your reliable gateway to the continent.”
He emphasized that Ghana offers a stable and trusted starting point for companies seeking to expand their reach across Africa’s vast markets. As the host of the African Continental Free Trade Area (AfCFTA) secretariat, Ghana is uniquely positioned at the heart of a $3.4 trillion single market.“Through ECOWAS, we connect you to more than 400 million consumers in West Africa. We offer political stability and a rules-based environment,” the President said. “Ghana therefore offers a trusted entry point to scale across the continent.”
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President Mahama also highlighted his administration’s commitment to creating a business-friendly environment, citing a “deliberate national reset” aimed at “stabilizing our macro economy, restoring confidence, and reforming how we do business.” A key step in this effort is the finalization of a Bilateral Investment Treaty (BIT) with Singapore.
To make investing in Ghana easier, he announced a number of policy changes. “We’re simplifying regulations through our business regulatory reforms, and we’re reviewing our investment promotion act, including the removal of the minimum capital threshold for foreign investors, to make it easier for investors to sign up.”He further introduced the country ambitious 24-hour economy and accelerated export development initiative, stating that “Ghana is Open for Business 24 hours a day. We’re aligning our infrastructure, incentives, and skills so that factories, farms, ports, and service centres can operate around the clock efficiently and competitively.”
Grace Fu, Singapore’s Minister for Environment and Sustainability and Minister in charge of Trade, expressed her support for President Mahama’s call.She voiced confidence that the conclusion of the Bilateral Investment Treaty between Ghana and Singapore would serve as a significant milestone, paving the way for a deeper and more sustainable economic partnership between Ghana and Singapore.
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Lee Chuan Teck, Chairman of Enterprise Singapore, also underscored the importance of this collaboration, noting that a partnership between Africa and Singapore will unlock the capital and expertise necessary for development.This year’s Africa Singapore Business Forum was held under the theme, “Bridging Capabilities, Charting Sustainable Growth.”
Source: GIPC