Ghana’s Finance Minister, Dr. Muhammad Amin Adam, has urged Saudi investors to contribute to a $12 billion fundraising effort over the next three years.
This investment is crucial for Ghana’s post-COVID recovery and growth. Dr. Adam made this appeal during a high-level meeting with the Arab Bank for Economic Development in Africa (BADEA) themed “Ghana: Unleashing Opportunities through Strategic Investments.”
The minister emphasized the vital role of foreign investment in Ghana’s recovery efforts, stating, “If you help us raise $12 billion over the next three years, your names will be written in golden ink as sustainable partners of Ghana.” He highlighted the government’s commitment to social programs, citing significant spending increases across various sectors.
Dr. Adam also stressed the need for increased support for Small and Medium Enterprises (SMEs), acknowledging BADEA’s previous financial support of $600 million but emphasizing the requirement for more funding to drive economic growth.
Dr. Diad Karrar, Public Sector Operations Director at BADEA, expressed pride in the organization’s longstanding relationship with Ghana, revealing that BADEA has approved 42 operations totaling $511 million.
He emphasized the importance of aligning with Ghana’s national development program and acknowledged regional challenges, including COVID-19 and the Ukraine-Russia conflict.
Both parties expressed optimism about future collaboration, with Dr. Adam calling for “a new chapter of lasting partnership and cooperation” and Dr. Karrar affirming BADEA’s commitment to continue their strong partnership.
