President John Mahama has urged Japanese businesses to seize the unique opportunities presented by Ghana’s strategic position as the gateway to Africa, encouraging them to tap into the continent’s vast market of over 1.4 billion people.
Addressing the Ghana Presidential Investment Forum on the sidelines of the 9th Tokyo International Conference on African Development (TICAD IX) in Japan, President Mahama described Ghana as a stable, democratic, and business-friendly hub. He highlighted the country’s growing consumer base, improving macroeconomic indicators, and ongoing reforms aimed at lowering the cost of doing business.
He emphasised Ghana’s advantageous location and its role as host of the African Continental Free Trade Area (AfCFTA) Secretariat, which enables duty-free and tariff-free trade across nearly 50 African countries. “With the African Continental Free Trade Area, you potentially can export into a 1.4 billion market,” he told participants, noting that Ghana itself has a population of 33 million, West Africa 400 million, and the entire continent 1.4 billion.
President Mahama discussed Ghana’s recent economic progress, citing a sharp drop in inflation from nearly 23% in 2024 to 13.7%, with projections for single digits by year-end. He hailed the cedi as the world’s best-performing currency this year and announced Ghana’s credit rating had been upgraded from junk status to B-minus, with a stable outlook.
On investment reforms, the President revealed plans to revise the Ghana Investment Promotion Centre Act, removing minimum capital requirements for foreign investors. This move, he said, would allow both large and small businesses to set up in Ghana, regardless of their capital size.
He spotlighted priority sectors for investment, including automobile assembly, agribusiness, agro-processing, energy, manufacturing, and digital innovation. President Mahama cited Toyota and Honda as global brands already assembling cars in Ghana, with significant potential to expand across Africa. He also unveiled the Volta Economic Corridor project, which aims to leverage Ghana’s arable land and Volta Lake for large-scale irrigation, agro-processing, and textile production.
In the energy sector, Mahama pointed to Ghana’s diversified investments in hydro, thermal, and gas-to-power projects, as well as its integration into the West African Power Pool, which allows the export of surplus energy to neighbouring states. He also touted the country’s modern infrastructure, particularly the Tema and Takoradi ports and the highly rated MPS Port in Tema, which can accommodate the world’s largest cargo ships.
Ghana’s rapidly expanding digital economy, powered by a young, English-speaking workforce and a vibrant fintech ecosystem, was another key highlight. To further ease the business environment, the President promised expedited approvals and registrations at the Ghana Investment Promotion Centre, with transactions completed within 24 hours.
President Mahama reassured Japanese investors of a secure and predictable business climate, with ample opportunities for public-private partnerships, blended finance, and joint ventures with local firms. “Your business will be protected and will not be expropriated,” he assured them.
Concluding his remarks, Mahama invited Japanese companies to make Ghana their base for African operations, calling Africa “the next frontier for global investment.” He proposed a partnership that would combine Japanese precision with Ghanaian potential for mutual benefit.
He also highlighted his government’s ambitious $10 billion “Big Push” programme, which will focus on infrastructure, agro-processing, industrialisation, and the rollout of Ghana’s new 24-hour economy policy to boost productivity and exports. “Ghana,” he declared, “is open for business 24 hours a day.”
Source: Apexnewsgh.com
