President of the Republic of Ghana, His Excellency John Dramani Mahama, has called on Japanese businesses to seize the growing opportunities in Ghana’s expanding economy, describing the country as a stable, democratic, and business-friendly gateway to West Africa and the African continent.
Speaking at the Ghana-Japan Presidential Investment Forum on the sidelines of the 9th Tokyo International Conference on African Development (TICAD-9) in Yokohama, President Mahama underscored Ghana’s readiness to partner with Japanese firms across sectors such as automotive assembly, agribusiness, digital economy, and infrastructure.
The President began by commending Mr. Simon Madjie, Chief Executive of the Ghana Investment Promotion Centre (GIPC), for his comprehensive presentation of Ghana’s investment potential. He noted that while Madjie had effectively marketed the country, it was still important for him to emphasize why Ghana remains one of Africa’s most attractive destinations for Japanese investors.
According to President Mahama, Ghana offers far more than economic prospects—it provides a politically stable environment, transparent democratic governance, and a conducive regulatory space for business.
He highlighted Ghana’s geographical advantage, noting that the country sits at the intersection of the Meridian and the Equator and also hosts the Secretariat of the African Continental Free Trade Area (AfCFTA).
This positioning, he explained, gives investors access not only to Ghana’s 33 million people but also to the wider West African sub-region of 400 million people and a continental market of 1.4 billion people under AfCFTA protocols.
“Once you register your product and it meets the required standards, you can export duty free and tariff free into African markets. With the vehicle of AfCFTA, you potentially can reach a market of 1.4 billion people”.
HE, John Dramani Mahama, President of Ghana
Stable Economy
He gave assurance that Ghana’s economy is regaining stability after a turbulent period. Inflation, which had risen to nearly 23 percent in 2024, has now dropped to 12.1 percent and is expected to reach single digits by the end of the year.
The cedi, once among Africa’s most volatile currencies, has become the best-performing currency in the world this year. President Mahama further announced that Ghana’s credit rating, which was previously downgraded to junk status, has now been improved to “B- with a stable outlook,” with prospects of a further upgrade in the next review.
As part of reforms to ease foreign participation, the President revealed that Ghana is reviewing the Ghana Investment Promotion Centre Act to remove minimum capital requirements previously imposed on foreign investors. This, he said, will allow investors of varying financial capacities—even with as little as $50,000—to establish businesses in Ghana.
“We are open for business. However little you have to invest, Ghana is ready to welcome you. We already have a track record of hosting Japanese companies, and we believe that there is more room for growth”.
HE John Dramani Mahama, President of Ghana
He noted that Japanese investments in Ghana currently stand at $152 million over the past few decades, a figure he believes can be significantly expanded. Trade between Ghana and Japan grew by more than 24 percent between 2020 and 2024, demonstrating the potential for deepened economic ties.
Priority Sectors for Investment
President Mahama outlined priority sectors for investment, including the automobile industry, where Japanese companies such as Toyota and Honda are already assembling vehicles in Ghana for both local consumption and regional export.
He also emphasized agribusiness and agro-processing, pointing to Ghana’s comparative advantages of fertile land, sunshine, abundant water resources, and the vast Volta Lake.
The President disclosed plans to harness the Volta Economic Corridor, which spans millions of hectares of arable land around Lake Volta, to drive large-scale irrigation, agro-processing, and industrial activity.
The corridor, he explained, will feature industrial parks for textile production, manufacturing, and agricultural processing aimed at both African and international markets.
Highlighting Ghana’s modern infrastructure, President Mahama pointed to the strategic role of the country’s ports, particularly the new MPS Port at Tema, which is capable of handling some of the world’s largest cargo vessels. This, he argued, positions Ghana as a regional logistics hub.
“Currently, the ports in Tema, the MPS port, is one of the best performing ports in Africa. And it is able to accommodate the largest cargo ships that exist in this world.
“This year, about three of those cargo ships, the largest in the world, have berthed in Tema to lighten up because we have a deep draft. And so they’re able to come into Tema and lighten the cargo before they move to our sister ports in Nigeria, Lome, and Cote d’Ivoire.”
HE John Dramani Mahama, President of Ghana
The President also made a strong case for investment in Ghana’s digital economy. With a young, English-speaking, and technology-savvy population, he said, Ghana is emerging as one of Africa’s fastest-growing fintech hubs.
Robotics, artificial intelligence, and digital skills training present avenues for fruitful partnerships between Japanese firms and Ghanaian institutions.
Exploring Public-Private Partnerships
In addition to traditional investment arrangements, President Mahama encouraged Japanese businesses to explore public-private partnerships (PPPs), blended financing models, and joint ventures with Ghanaian partners.
He assured investors of legal protections, emphasizing that Ghana does not expropriate businesses and is committed to maintaining a fair playing field.
“As I said, we wish to, because of the discipline, quality standards, and industrial wisdom that Japanese businessmen have, we wish to encourage Japanese businessmen to look towards Ghana.
“Africa is the next frontier for investment. Most parts of the world are saturated when it comes to investment. Africa is opening up, growing, and is a place that Japan should be looking at. And so let us marry the Japanese position with Ghanaian potential and create a win-win situation for ourselves.”
HE John Dramani Mahama, President of Ghana
President Mahama also tied his message to Ghana’s broader development vision, anchored on his government’s “$10 billion Big Push” program. This initiative, he explained, will channel $2 billion annually into roads, industrial infrastructure, agro-processing, and other critical sectors.
Complementing this, the government’s “24-hour economy” policy will incentivize businesses to run extended operations, thereby boosting productivity, creating jobs, and strengthening supply chains.
“My copyright, Ghana is open for business, is here, and I don’t charge for it anyway. So we’re open for business 24 hours a day, and at this decisive moment in our history, we’re working towards the economic transformation of Ghana.
“Our nation is embracing a bold vision, one that harnesses innovation, industrialization, and regional integration to unlock the full potential of our people and our resources.”
HE John Dramani Mahama, President of Ghana
He closed his address by assuring Japanese businesses of the Ghanaian government’s readiness to provide support through agencies such as GIPC, the Ghana Export Promotion Authority, and the Ministry of Trade and Industry. These agencies, together with Ghana’s ambassadors and advisors, were present at the forum to engage Japanese investors in detail.
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