President John Dramani Mahama has extended an invitation to global investors to scale up their investments in Ghana, emphasizing the country's vast economic potential. Speaking at the US-Ghana Presidential Roundtable on September 23, Mahama highlighted Ghana's rich natural resources, including cocoa, gold, manganese, and other commodities. He noted that while Ghana is one of the world's leading cocoa producers, the country's interest cannot end with just exporting raw cocoa beans.
Mahama emphasized the need for Ghana to move beyond exporting raw materials and instead focus on processing and manufacturing. He cited agriculture as a prime example, with opportunities existing in cocoa processing, cashew, share, horticulture, grains, poultry, livestock, and food manufacturing. By processing more of what farmers produce in Ghana, Mahama said, a market is created for farmers, work for processors, businesses for suppliers, transporters, and jobs along the value chain.
The President also drew attention to the African Continental Free Trade Area (AfCFTA), which brings together a continental market of over 1.4 billion people and is headquartered in Accra. He encouraged investors to think beyond Ghana's borders and look for opportunities across West Africa and the wider continent. With the implementation of the AfCFTA, Mahama said, companies establishing production in Ghana should consider the vast market opportunities available across the region.
Mahama further highlighted Ghana's upcoming chairmanship of the African Union, which he said would be used to support Africa's work on infrastructure industrialization, regional integration, and implementation of the AfCFTA. He noted that regional integration would require investments in roads, ports, reliable energy, digital connections, and efficient borders. In these areas, Mahama said, American businesses have a comparative advantage, making Ghana a prime destination for investment.
The President's invitation to global investors comes as Ghana seeks to create jobs and build stronger domestic enterprises. He emphasized that processing more of what farmers produce in Ghana would not only create a market for farmers but also provide work for processors, businesses for suppliers, transporters, and jobs along the value chain. By doing so, Mahama said, Ghana can reduce its reliance on imported finished products and increase its economic growth.
Mahama's comments were made at the US-Ghana Presidential Roundtable, which aimed to strengthen economic ties between the two countries. He expressed optimism about the potential for a new chapter in Ghana-United States economic relations, with Ghana's 2027 responsibility as chair of the African Union providing an opportunity to advance an African economic agenda. The agenda, Mahama said, would focus on creating conditions for growth and regional integration.
In conclusion, Mahama's invitation to global investors reflects Ghana's efforts to attract foreign investment and stimulate economic growth. With its rich natural resources, strategic location, and upcoming chairmanship of the African Union, Ghana is poised to become a major player in West Africa and the wider continent. As the country looks to scale up its investments in key sectors, global investors are being encouraged to take advantage of the opportunities available in Ghana.
Key points
- President Mahama invites global investors to scale up investments in Ghana's cocoa processing, cashew, and other sectors.
- Ghana is set to assume the chairmanship of the African Union in 2027, providing an opportunity to advance an African economic agenda.
- The African Continental Free Trade Area (AfCFTA) offers a vast market opportunity for companies establishing production in Ghana.
