President John Mahama has made a compelling case for foreign investment in Ghana, assuring the international business community that the economy has overcome its most significant challenges and is poised for growth.
Speaking at a CEO Summit in Abidjan yesterday, the President said Ghana was open and ready for business, outlining key reforms such as infrastructure and sector-specific opportunities that abound in the country.
Economic recovery
President Mahama stated that although the economy was in its worst shape when his administration took office on January 7, 2025, it had initiated some bold measures, including an IMF-backed Extended Credit Facility programme that had restored stability.
“We have completed the fourth review and remain on track to exit the programme by April next year,” he said.
The President also said that Ghana’s debt restructuring under the G20 Common Framework had seen agreements with most creditors, except commercial bondholders, adding that negotiations were still ongoing.
To prevent future fiscal crises, he stated that the government had revived the Sinking Fund and adopted prudent borrowing strategies.
‘Big Push’
The highlight of the President’s address was the “Big Push Programme”, which he told the investor community would inject some $2 billion investment annually, to drive targeted roads, bridges, health facilities, schools and security infrastructure.
He also mentioned the government’s 24-hour Economy flagship policy, designed to make Ghana a competitive investment hub by ensuring a reliable power supply, offering tax incentives, and facilitating round-the-clock business operations to boost job creation.
Other initiatives include the “Million Coders Programme,” which President Mahama said would equip the youth with digital skills, along with support for startups and small businesses.
“We are preparing our young people for the future of work while fostering entrepreneurship,” he said.
The President added that with vast arable land and a favourable climate, Ghana was positioning itself as an agribusiness powerhouse, capable of feeding its 33 million population and exporting to the 400 million-strong West African market under the African Continental Free Trade Area (AfCFTA).
Oil sector
In the oil and gas sector, President Mahama announced renewed engagement with investors to ramp up production and explore new blocks.
Infrastructure projects, including port expansions, railway development and airport upgrades, were also mentioned to demonstrate Ghana’s determination to become West Africa’s premier trade and logistics hub.
President Mahama likened Ghana’s economic recovery to a flight and assured the investor community that the economy’s worst moments were over.
“As your pilot, I assure you the turbulence is over. It will be a smooth flight to 2028 and beyond,” he said.
Source: graphic.com.gh
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