- Africa Must Attract Long-Term Industrial Investment to Drive Transformation — Deputy Finance Minister
Africa must reposition itself as a globally competitive investment destination capable of attracting the private capital, industrial financing and long-term partnerships needed to transform its economies, Deputy Finance Minister Thomas Nyarko Ampem has said.
Speaking at an investment engagement focused on Africa’s economic prospects, Mr Ampem said the continent could no longer rely heavily on aid and concessional financing if it intends to accelerate growth, industrialisation and job creation.
Instead, he argued, African economies must strengthen their investment ecosystems, improve policy predictability, deepen regional integration and build the institutional credibility required to attract sustained investor confidence.
“Africa must be viewed not as a destination for aid, but as a destination for investment,” the Deputy Finance Minister stated.
His remarks come at a time when African governments are increasingly seeking to reset the continent’s development narrative from aid dependence to private-sector-led growth, amid rising global interest in critical minerals, renewable energy, manufacturing, digital infrastructure, financial technology and transport corridors.
Despite Africa’s abundant natural resources, youthful population and expanding consumer market, the continent continues to attract a disproportionately small share of global foreign direct investment flows compared with other emerging regions.
Mr Ampem said reversing that trend would require stronger institutions, regulatory consistency, enhanced infrastructure and policies that support private-sector expansion.
The Deputy Finance Minister also highlighted the African Continental Free Trade Area as a major opportunity to reshape Africa’s investment story. He said regional market integration could significantly improve the continent’s competitiveness by offering investors scale, market depth and cross-border opportunities beyond individual national economies.
For investors, Africa’s appeal lies not only in its natural resource base, but also in its demographic and industrial potential. With a young and fast-growing population, rising urbanisation and increasing demand for energy, housing, transport, food systems and digital services, the continent presents long-term opportunities across multiple sectors.
Economists say the most attractive areas for investment include renewable energy, agribusiness, logistics, digital infrastructure, manufacturing, critical minerals processing and financial technology.
But Africa’s investment proposition remains constrained by familiar risks. Debt vulnerabilities, exchange-rate instability, high borrowing costs, infrastructure gaps, governance concerns and policy uncertainty continue to affect investor sentiment in several markets.
Mr Ampem’s comments therefore reflect a growing recognition among policymakers that Africa must compete for capital on the strength of credibility, stability and execution — not only on the promise of potential.
The shift is also being driven by tighter global financial conditions and reduced access to affordable external borrowing. Many African countries are facing higher debt-service costs, limited fiscal space and weaker access to international capital markets, making private investment increasingly important to development financing.
For Ghana and other African economies, the challenge is to convert investor interest into bankable projects, predictable returns and sustainable development outcomes.
That will require not only investment promotion, but also reforms in energy reliability, transport infrastructure, land administration, tax policy, contract enforcement, local content frameworks and regional trade facilitation.
Mr Ampem’s message is therefore clear: Africa’s future growth cannot be built on aid dependency alone.
The continent must become a preferred destination for capital not because it needs sympathy, but because it offers credible opportunities for investment, production, trade and long-term value creation.
