In a historic first, His Excellency John Mahama, the President of Ghana, has concluded a state visit to Singapore, securing over US$1 billion in investment deals. This marks the first time a Ghanaian president has been invited on a state visit by a Singaporean president, signifying a significant strengthening of diplomatic and economic ties between the two nations.
The investments, central to President Mahama’s “Reset Agenda,” cover a wide range of sectors and are expected to create thousands of jobs. Key projects include a US200 million commitment from Olam to establish new ventures, such as a 43,000-metric-ton pasta processing plant and feed processing facilities for poultry and aquaculture, which are expected to create about 4,000 jobs. Additionally, Shangri-la has pledged US300 million to build a five-star hotel with a grand mall and a convention center aimed at making Ghana a premier conference destination in West Africa.
Other significant partnerships include the construction of a 10,000-capacity students’ hostel for the University of Ghana, enhanced security and scanner projects for the Kotoka International Airport, and cooperation to expand the Tema Port and revive its dry dock. There is also a plan to construct a new jetty for oil ships and a collaboration with Singapore’s Land Transport Authority to establish testing labs to ensure the quality of road construction materials.
Furthermore, the central banks of Ghana and Singapore will collaborate on a common payment platform to boost trade between Africa and Asia. The two nations have also signed a Technical and Vocational Education and Training (TVET) agreement to establish a model Accra Institute of Technology with the Singapore Institute of Technology (SIT), and will execute projects under a bilateral Carbon Credit Agreement.
In addition to these transformative projects, Ghana and Singapore signed a Memorandum of Understanding (MoU) for regular high-level political consultations and agreed to finalize negotiations on a Bilateral Investment Treaty (BIT). In a special public service initiative, 18 chief directors from Ghana’s ministries are scheduled to travel to Singapore next month for a leadership bootcamp to enhance their skills and knowledge.
The visit concluded with President Mahama’s announcement that Ghana plans to establish a Consulate in Singapore by 2026. Singapore has already opened Enterprise Singapore in Accra to oversee its investment portfolio in West Africa.
Singapore’s President, Tharman Shanmugaratnam, praised President Mahama, stating he is “a man on a mission” and is “determined to see his country and its young population succeed.”
Ruth Abla ADJORLOLO
