Mahama Pitches Ghana as AfCFTA Gateway at Africa–Singapore Business Forum

President John Dramani Mahama has positioned Ghana as a “reliable gateway” to the African Continental Free Trade Area (AfCFTA) and called for deeper South–South cooperation during the opening of the 8th Africa–Singapore Business Forum (ASBF) on Tuesday. The event marked his first official engagement on a three-day state visit to Singapore, underscoring Ghana’s ambition to attract global investment and forge stronger Asia–Africa trade links.

Africa as an “Investable Continent”

Speaking to an audience of ministers, senior officials, and corporate leaders from Singapore and across Asia, Mahama argued that Africa is no longer just a story of potential, but of investable opportunities. He pointed to Africa’s structural advantages:

• 1.4 billion people, the majority young and digitally connected.

• A $3.4 trillion single market under the AfCFTA.

• Global leadership in mobile money and fintech adoption.

Framing Africa and Asia as the world’s “two youngest, fastest-urbanising regions,” Mahama said their resources, markets, and know-how are complementary, urging the two regions to become “champions of open markets, trusted rules, and practical partnerships that deliver jobs, technology transfer and shared prosperity.”

Warning on Global Fragmentation

Mahama also sounded a note of caution on the state of the global economy, warning that the “death knell of multilateralism is sounding” as tariffs proliferate, global supply chains remain vulnerable, and financial conditions tighten. He stressed that this moment requires new alliances and alternative partnerships rooted in mutual respect and shared interests.

Deepening Africa–Singapore Trade

Trade between Africa and Singapore has been rapidly expanding, growing by about 50% between 2020 and 2024 to nearly $14 billion. West Africa accounts for more than half of this figure, with Ghana emerging as a central hub.

• Ghana–Singapore bilateral trade exceeded $215 million in 2024.

• 69 Singaporean companies are registered in Ghana, with cumulative investments topping $2 billion.

By hosting the AfCFTA Secretariat in Accra and serving as a member of the 15-nation ECOWAS bloc, Ghana offers investors access to more than 400 million consumers within West Africa and seamless connectivity to the continent-wide free trade market.

“Ghana is your trusted entry point to scale across Africa,” Mahama said.

Domestic Reforms and Competitive Advantage

Mahama outlined a series of reforms and flagship projects designed to boost Ghana’s competitiveness and attract sustainable capital flows. His national strategy, “OPEN FOR BUSINESS 24/7,” aims to align infrastructure, incentives, and workforce skills so that factories, ports, farms, and service centres can operate round-the-clock.

The four integrated pillars of this vision include:

• Grow24 – Irrigating more than 2 million hectares for year-round farming.

• Make24 – Establishing agro-industrial parks for textiles, pharmaceuticals, and food processing.

• Show24 – Promoting tourism development along Lake Volta.

• Connect24 – Transforming Lake Volta into an inland transport corridor to reduce logistics costs and integrate regional trade.

Mahama stressed that inflation is easing, the cedi has stabilised, and ratings outlooks are improving, noting that the Ghana Investment Promotion Centre now provides sector-specific investment maps backed by credible data.

Singapore as a Strategic Partner

Mahama cast Singapore as a model of excellence in finance, logistics, technology, and project preparation — and as a natural partner for Africa’s transformation.

“Your expertise in blended finance, risk management, and dispute resolution is precisely what African projects need to move from pipeline to bankable to build,” he told his hosts.

Global Finance and Africa’s Development Needs

Beyond investment promotion, Mahama used the platform to call for reforms to the global financial architecture, citing Africa’s annual financing gap of $1.3 trillion, infrastructure needs of $181–$221 billion per year through 2030, and a climate-finance shortfall of $213 billion annually.

As the African Union Champion on Financial Institutions, he urged stronger commitments to ensure African economies are not left behind in global capital flows.

Ghana’s Pitch to Investors

In closing, Mahama positioned Ghana as:

• Stable and reform-minded.

• Directly connected to AfCFTA and ECOWAS markets.

• Home to a pipeline of investable projects in agribusiness, logistics, manufacturing, energy, digital technology, and tourism.

• A partner committed to integrity, predictability, and long-term partnerships.

“Africa is investable, and Ghana is your reliable gateway to the continent,” Mahama declared, leaving investors with the message that the country is prepared to deliver scale, stability, and opportunity.