President John Mahama has issued a strong call for global financial reforms, urging the international community to treat Africa with fairness rather than benevolence. Speaking at the opening of the 8th Africa–Singapore Business Forum, he emphasized that closing Africa’s $1.3 trillion annual financing gap requires access to affordable capital—not handouts.
“As the African Union’s Champion on Financial Institutions, I must be frank: the current global financial system remains unfair to low- and middle-income countries,” Mahama stated.
He highlighted the continent’s vast funding needs—between $181 and $221 billion annually for infrastructure and over $213 billion for climate adaptation—arguing that only a restructured global finance model can support Africa’s transformation.
Building Africa’s Financial Architecture
Mahama outlined steps being taken to develop a financial system that serves Africa’s interests. These include:
- Accelerating the establishment of the African Monetary Institute, a precursor to a continental central bank
- Linking major stock exchanges through the African Exchanges Linkage Project
- Scaling the Pan-African Payment and Settlement System to facilitate trade in local currencies
“These are not theoretical ambitions. They are practical steps toward financial sovereignty and economic resilience,” he said.
The Investment Case for Africa
President Mahama underscored Africa’s readiness for investment, citing its vast renewable energy resources, fintech leadership, and growing consumer base. “This is a market ready for scaled solutions,” he said. “But to unlock that, we need capital—priced right and backed by innovative financial instruments.”
He stressed that Africa doesn’t need sympathy—it needs partners. “In a world facing tightened financial conditions and rising protectionism, South–South collaboration is no longer optional—it’s essential,” he added, calling for partnerships that deliver jobs, technology, and shared prosperity.
Ghana: Africa’s Reliable Gateway
Positioning Ghana as the continent’s most stable and investor-ready entry point, Mahama said Ghana–Singapore trade alone reached over US$215 million in 2024, contributing to a 50% growth in Africa–Singapore trade since 2020.
He also outlined Ghana’s recent economic reforms:
- Easing inflation and stabilizing the cedi
- Improved credit ratings and regulatory reforms
- Plans to revise the Investment Promotion Act, including eliminating minimum capital thresholds for foreign investors
“Our new model is built for productivity, exports, and jobs,” he said, describing the country’s “24-Hour Economy” strategy, which enables continuous operations in manufacturing, logistics, and services.
At the heart of this vision is the Volta Economic Corridor—Ghana’s most ambitious integrated development project to date.
A Call to Investors
Mahama concluded with a clear invitation to investors: “Ghana is open for business—24 hours a day. Join us at the Presidential Business Roundtable. Test our readiness. Meet our regulators. Explore a pipeline of investable projects.”
“Africa is investable. Ghana is your gateway,” he affirmed. “What we ask in return is fairness, practical collaboration, and long-term partnership.”
