- President Akufo-Addo calls on Chinese investors to seize opportunities in Ghana’s diverse sectors
- Ghana’s role as the host of the AfCFTA is a gateway for regional trade and investment in Africa
- Ghana’s strong trade ties with China, marked by $9.23 billion in bilateral trade in 2023
At the China-Ghana Business Forum held in Shenzhen on September 7, 2024, President Nana Addo Dankwa Akufo-Addo issued an enthusiastic invitation to Chinese investors, urging them to play a pivotal role in Ghana’s economic evolution.
In his address to influential Chinese business figures, President Akufo-Addo underscored the deep-rooted partnership between Ghana and China and highlighted the vast investment potential across various sectors, including manufacturing, agriculture, and green energy.
Opening his remarks with the Chinese proverb, “If you want to walk far, walk with someone,” President Akufo-Addo symbolically expressed Ghana’s commitment to advancing together with China towards enduring economic success.
He pointed out Ghana’s eagerness to draw lessons from China’s achievements and strengthen business connections for shared prosperity. He also noted the impressive trade relations, with China being Ghana’s largest trading partner since 2015, and bilateral trade reaching $9.23 billion in 2023.
Acknowledging the positive impact of Chinese investments in construction, energy, agriculture, and ICT, President Akufo-Addo attributed this growth to Ghana’s stable and secure investment climate.
Reflecting on global challenges like the COVID-19 pandemic and the Russia-Ukraine conflict, he stressed the importance of international collaboration in building resilient and climate-smart economies capable of withstanding future disruptions.
President Akufo-Addo also highlighted Ghana’s economic strides under his administration, including rapid GDP growth of 7% annually from 2017 to 2020. Despite recent challenges, he remains optimistic about Ghana’s economic recovery and growth.
He detailed the Ghana CARES ‘Obaatampa’ Programme, a strategic plan aimed at revitalizing the economy through significant private sector investment in agriculture, agro-processing, housing, and healthcare.
The President invited Chinese businesses to engage in this transformative effort, emphasizing the role of partnerships in economic reconstruction. He showcased government initiatives to enhance industrialization and economic development, such as the “Planting for Food and Jobs” initiative, automotive sector advancements, and the development of integrated bauxite and iron industries.
Ghana’s strategic position as the host of the African Continental Free Trade Area (AfCFTA) Secretariat in Accra presents unique opportunities for accessing African markets, positioning Ghana as a pivotal hub for regional trade and investment.
Concluding his speech, President Akufo-Addo reaffirmed that Ghana is an attractive destination for Chinese investment, offering a stable regulatory framework, favorable fiscal policies, and abundant resources. He urged Chinese investors to seize this opportunity, inviting them to forge strong, mutually beneficial partnerships.
“Let us seize this moment to forge stronger ties, build lasting partnerships, and create shared prosperity for the people of Ghana and China,” President Akufo-Addo concluded, expressing gratitude to the Chinese business community for their continued interest in Ghana.
