President John Dramani Mahama has told investors in Singapore that Africa is open for business, emphasizing the continent’s vast opportunities for trade and investment.
Addressing the opening of the 8th Africa–Singapore Business Forum on Tuesday, August 26, 2025, he stressed that Africa is poised for growth, positioning Ghana as the continent’s most dependable gateway.
“I speak today as an African leader and as President of Ghana. Our message is simple: Africa is investable, and Ghana is your reliable gateway to the continent. The continent is the world’s most dynamic emerging market,” he said.
Mahama said Africa’s population and market size offer unique opportunities.
“We are 1.4 billion people today—young, fast-urbanising, digitally connected—and by 2030, Africa’s cities will host more than 700 million consumers.
Mahama explained that Africa’s integration under the African Continental Free Trade Area (AfCFTA) has opened new frontiers for investment and regional cooperation, offering businesses greater access to markets and reducing trade hurdles.
He added that Africa is rich in resources and innovation.
“The African Continental Free Trade Area is the largest new free trade area in the world by number of countries, and this has created a $3.4 trillion market and lowered barriers across supply chains.”
“Africa holds vast renewable energy potential and is already a global leader in mobile money and fintech adoption. This is a market ready for scaled solutions. Yet this opportunity must be matched with capital at the right price and with the right instruments.”
As the African Union’s Champion on Financial Institutions, President Mahama admitted that the continent faces major financing gaps.
He urged Singaporean businesses to partner with Africa.
“Africa faces an annual financing gap estimated at $1.3 trillion. Infrastructure needs alone run between $181 and $221 billion per year through 2030, and the climate finance gap is about $213 billion annually.
“We are taking steps to build an African financial system that works for Africa; accelerate the African Monetary Institute as a precursor to the African Central Bank, and link ten major stock exchanges through the African Exchanges Linkage Project to enhance liquidity.”
“Singapore stands at the nexus of global finance, fintech, logistics and green innovation. Your excellence in project preparation, blended finance, risk management, standards and dispute resolution is precisely what African projects need to move from pipeline to bankable to build.”
President Mahama highlighted Ghana’s advantages as an investment destination.
“As host of the African Continental Free Trade Area Secretariat, Ghana sits at the heart of the US$3.4 trillion single market. Through ECOWAS, we connect you to more than 400 million consumers in West Africa.
“We offer political stability, a rules-based environment, a double taxation agreement with Singapore in force since 2019, and a growing base of Singaporean investors—69 companies registered with cumulative investments exceeding US$2 billion. Ghana is, therefore, a trusted entry point to scale across the continent.”
He noted Ghana’s reform drive. “We are pursuing a deliberate national reset: stabilising the macroeconomy, restoring confidence and reforming how we do business. Inflation is easing, the cedi has stabilised, and ratings outlooks are improving.
“We are simplifying regulations through our Business Regulatory Reforms, and we are reviewing our Investment Promotion Act—including the removal of minimum capital thresholds for foreign investors—to make it easier and faster to partner, whether through joint ventures or wholly-owned investments.”
President Mahama presented Ghana’s 24-Hour Economy as a bold model for growth.
He explained that infrastructure and incentives are being aligned to sustain this shift.
“Our economic strategy is anchored in productivity, exports and jobs. We call it the 24-Hour Economy—for a reason. Ghana is OPEN FOR BUSINESS 24 hours a day.”
“We are aligning infrastructure, incentives, and skills so factories, farms, ports, and service centres can operate round-the-clock shifts safely and competitively. At the core of this is the Volta Economic Corridor—our most ambitious integrated development to date.”
Mahama detailed the four pillars of the corridor: “Grow24: irrigating more than two million hectares for year-round farming.
“Make24: agro-industrial parks for textiles, pharmaceuticals and food processing. Show24: tourism and hospitality along one of the world’s great inland lakes. Connect24: transforming Lake Volta into a cost-efficient inland transport spine, reducing logistics costs and linking farms, factories and markets.”
He also highlighted other catalytic projects, including the Legon Pharmaceutical Innovation Park, the Kumasi Machinery and Technology Park, the Akosombo-Juapong Garments and Textiles Park, Digital TVET Centres of Excellence, and renewable energy corridors.
President Mahama invited Singaporean investors to test Ghana’s readiness.
“On day three of this State Visit, as part of the Africa Forum, we will host a Presidential Business Roundtable. Join us. Bring your teams. Put Ghana’s readiness to the test.
“We will showcase bankable projects, provide direct access to our regulators, outline incentives for strategic investors and offer a one-stop investor concierge so decisions can be made quickly and confidently.”
