Ghana's President John Dramani Mahama has extended an invitation to Indian companies to invest in the country's pharmaceutical and vaccine manufacturing sectors. He made this appeal during a meeting with India's External Affairs Minister, Dr Subrahmanyam Jaishankar. President Mahama highlighted Ghana's stable economy, declining inflation, and the cedi's steady performance as attractive factors for investment.
President Mahama emphasized Ghana's partnership with Indian-linked Atlantic Life Sciences and local firm KinaPharma as a model for expanding domestic vaccine production. This collaboration aims to enhance Ghana's health sovereignty and reduce reliance on external sources for vaccines and pharmaceuticals. The President's invitation is part of efforts to strengthen economic ties between Ghana and India.
Ghana and India have a longstanding partnership, with growing trade between the two nations. President Mahama noted that Ghana's exports to India have risen significantly, from about US$3 billion to nearly US$7 billion. Ghana benefits from Indian agricultural machinery, automobiles, and buses, which contribute to the country's development.
Dr Jaishankar conveyed warm greetings from Indian Prime Minister Narendra Modi and President Droupadi Murmu. He expressed the expectation that the comprehensive partnership between Ghana and India will be further strengthened through new avenues of cooperation. The meeting between President Mahama and Dr Jaishankar aims to deepen the Ghana-India partnership.
The Ghana-India partnership encompasses various sectors, including infrastructure, ICT, health, trade, and investment. Both countries are committed to exploring new opportunities for collaboration and mutual benefit. President Mahama's invitation to Indian companies is part of this effort to enhance economic cooperation.
President Mahama's appeal to Indian companies is based on Ghana's improving economic conditions. The country's economy is stable, with inflation declining and the cedi holding its own. These factors create a favorable environment for investment, particularly in the pharmaceutical and vaccine manufacturing sectors.
The meeting between President Mahama and Dr Jaishankar reflects the ongoing efforts to strengthen Ghana-India relations. Both countries are working to expand their partnership and explore new areas of cooperation. The invitation to Indian companies to invest in Ghana's pharmaceutical and vaccine manufacturing sectors is a significant development in this regard.
Key points
- President Mahama invites Indian companies to invest in Ghana's pharmaceutical and vaccine manufacturing sectors.
- Ghana's economy is stable, with declining inflation and a steady cedi performance.
- Ghana and India have a growing trade relationship, with exports rising from US$3 billion to nearly US$7 billion.
