President Mahama Pitches Ghana as West Africa’s Investment Hub, Touts Country’s Economic Recovery to Investors at TICAD-9
President John Mahama has touted Ghana’s economic rebound and renewed appeal to foreign investors, citing macroeconomic stability, cedi appreciation, a sovereign ratings upgrade, and new reforms to ease investment entry.
Speaking at the Ghana Presidential Investment Forum on the sidelines of the 9th Tokyo International Conference on African Development (TICAD IX) in Japan on Wednesday, President Mahama said Ghana had emerged as one of Africa’s most attractive destinations for investors.
“Inflation rose to a high of almost 23% in 2024, and it’s currently down to 13.7%. And we expect that by the end of the year, it will hit single digits. And it’s also our cedi has stabilised. For those of you who know the history of the Ghanaian cedi, it’s been one of the most volatile currencies in Africa, and a few years back, we were said to be the worst-performing currency. I’m happy to announce that this year, the Ghana cedi has been the best-performing currency in the world,” he declared.
The President also pointed to renewed international confidence, noting Ghana’s sovereign credit rating had been upgraded from junk status to B- with a stable outlook. “I’m certain that in the next review, we’re going to be upgraded again,” he said.
Investment reforms
President Mahama announced revisions to the Ghana Investment Promotion Centre (GIPC) Act aimed at widening opportunities for foreign investors. “In the reviewed GIPC Act, we are removing those minimal capital investments. This will enable any investor, however little money you have — $100,000, $50,000 — to be able to come in and set up a business in Ghana,” he explained.
He positioned Ghana as a strategic hub for West Africa and the African market, underpinned by strong democratic governance and investor-friendly policies.
“Ghana is a stable, democratic, business-friendly gateway to West Africa and the continent. We have a growing consumer market with improving macroeconomic fundamentals, clear reforms to lower the cost of doing business, and abundant opportunities for technology transfer,” he stressed.
Highlighting the African Continental Free Trade Area (AfCFTA), headquartered in Accra, he urged investors to leverage Ghana’s location to access the wider African market. “With the vehicle of the African Continental Free Trade Area, you potentially can export into 1.4 billion markets,” he said.
Priority sectors
President Mahama cited agribusiness, automotive assembly, energy, and industrialisation as sectors with strong growth prospects. He referenced the “Volta Economic Corridor” initiative, designed to transform irrigation-fed farmlands into agro-industrial hubs with textile manufacturing and industrial parks for exports.
“Ghana is a land of opportunity, and many nationals from all over the world are investing in Ghana. Africa is the next frontier for investment. Most parts of the world are saturated when it comes to investment. Africa is opening up, is growing, and is a place that Japan should be looking at,” he stated.
The President called on Japanese investors to expand their footprint in Ghana, stressing the complementarities between the two nations. “Let us marry Japanese position with Ghanaian potential and create a win-win situation for ourselves,” he urged.
President Mahama concluded by declaring Ghana “open for business 24 hours a day,” adding that the country’s transformation agenda is anchored in innovation, industrialisation, regional integration, and infrastructure development.
