At the 9th Tokyo International Conference on African Development (TICAD 9), President John Dramani Mahama made a compelling case for Ghana as the premier entry point for Japanese businesses seeking to tap into Africa’s booming markets.
Speaking at the Presidential Investment Forum on the sidelines of the conference, Mahama spotlighted Ghana’s political stability, strategic location, and reform-driven economy as key advantages for investors targeting the continent’s 1.4 billion consumers under the African Continental Free Trade Area (AfCFTA).
“Ghana is stable, democratic, business-friendly, and a natural gateway to West Africa and the continent,” Mahama declared. “We are open for business—24 hours a day.”
Economic Recovery & Currency Confidence
President Mahama reassured investors of Ghana’s economic rebound, citing a sharp drop in inflation from nearly 23% in 2024 to 13.7% with projections of single-digit inflation by year-end.
He also celebrated the Ghanaian cedi’s performance, calling it “the best performing currency in the world” this year after a long period of volatility.
Reforms to Unlock Investment
To further attract foreign capital, Mahama announced sweeping reforms to the Ghana Investment Promotion Center (GIPC) Act. The government will eliminate minimum capital requirements for foreign investors, opening the door to small and medium-sized enterprises.
“Whether you have $100,000 or $50,000, you can now set up a business in Ghana,” he said. “We’re lowering the barriers to entry.” he said.
With AfCFTA’s secretariat headquartered in Accra, Mahama positioned Ghana as a springboard into Africa’s vast consumer base.
“Ghana’s 33 million people sit within a sub-regional market of 400 million and a continental market of 1.4 billion. Through AfCFTA, you can export duty-free and tariff-free across Africa.”
Strategic Sectors for Collaboration
Mahama invited Japanese firms to scale up investment in key sectors where Ghana’s potential meets Japan’s precision:
– Automobile Assembly: Toyota and Honda already operate in Ghana; he encouraged others to follow.
– Agribusiness: Ghana’s fertile land and water resources offer opportunities in agro-processing and textiles.
– Energy: With hydro, gas, and thermal capacity, Ghana produces competitively priced power and can export surplus to neighboring countries.
– Fintech & Digital Innovation: A youthful, English-speaking population is driving one of Africa’s fastest-growing tech ecosystems.
“Africa is the next frontier for investment,” Mahama said. “Let’s marry Japanese precision with Ghanaian potential.”
Big Push Agenda & 24-Hour Economy and A Call to Partnership.
Looking ahead, Mahama unveiled two transformative policies: The $10 Billion Big Push Agenda: A $2 billion annual investment in roads, industrial parks, and agro-processing zones.
– 24-Hour Economy Policy: Incentives for businesses that operate beyond traditional hours, boosting productivity and job creation.
“We are embracing a bold vision,” he said. “Ghana is positioning itself as Africa’s manufacturing and export hub.”
President Mahama closed with an invitation to Japanese investors. “Pilot with us. Whether in automotive, agro-processing, green transition, or digital technology, use Ghana as your hub, and together we can build prosperity.”
