Singaporean President Tharman Shanmugaratnam has praised Ghana’s President John Dramani Mahama as a leader on a mission to transform his nation’s fortunes and secure a brighter future for its youthful population.
In a reflection following President Mahama’s State Visit to Singapore, President Shanmugaratnam described the Ghanaian leader as determined and forward-looking, noting his drive to implement reforms and attract the right investments to unlock Ghana’s potential.
“I was very pleased to meet him today on his State Visit to Singapore,” the Singaporean President remarked, underscoring the mutual respect and opportunities for partnership between the two nations.
Shanmugaratnam, who himself leads a country often cited as a model for economic transformation, pointed to Ghana’s abundant natural wealth as a strong foundation for prosperity.
“Ghana is blessed in many ways. It used to be called the Gold Coast, because gold is not far below the surface in most parts of the country. It is a leading producer of the world’s cocoa and cashews. And it is both richly forested, and has much scope to develop solar, wind and hydroelectric energy to contribute to action on climate change”.
Singaporean President Tharman Shanmugaratnam
However, he stressed that the path to progress required addressing long-standing structural challenges. According to him, while Ghana has been independent for more than 60 years, the country continues to grapple with economic legacies inherited from the colonial era. “Too much of Ghana’s resources are still exported raw – so the jobs and profits that come from processing them are gained elsewhere,” he noted.
Ghana’s Recent Debt Crisis
Beyond structural economic issues, Shanmugaratnam also acknowledged Ghana’s recent debt crisis, which he attributed to years of unsustainable borrowing.
“Ghana also took on too much debt over the last decade, leading to a crisis,” he pointed out, adding that the current administration’s reforms would be crucial in restoring stability and creating new opportunities for growth.
According to him, President Mahama, who secured a decisive victory in Ghana’s December 2024 elections, has since set out an ambitious domestic agenda.
President Mahama’s government, he noted, is focusing on fiscal discipline, industrialisation, and an aggressive investment drive aimed at creating jobs for Ghanaians.
Shanmugaratnam expressed optimism that these policies, if sustained, could reposition the country as a more competitive economy within Africa and globally.
A Reliable Partner
The Singaporean leader emphasised that his country is ready to be a reliable partner in Ghana’s journey of transformation. He revealed that both nations had already identified areas of collaboration, particularly in sustainability and technology.
“Singapore is a natural partner to his nation. We are set for the exchange of carbon credits. And our businesses are looking forward to deeper engagement in agri-industry, the digital economy and fintech, and port modernisation and cold chains, among other area”.
Singaporean President Tharman Shanmugaratnam
The pledge of cooperation signals an opportunity for Ghana to leverage Singapore’s expertise in technology, trade logistics, and green development to complement its reform efforts.
The meeting between the two leaders also reflects Ghana’s broader strategy of strengthening international partnerships to support its domestic agenda.
President Mahama has repeatedly stressed that the country cannot afford to rely solely on traditional aid or unsustainable debt but must instead pursue mutually beneficial investments and partnerships.
For Shanmugaratnam, Ghana’s story remains one of untapped potential, but with a leadership determined to reverse old trends.
His endorsement of President Mahama’s mission signals international confidence in the reforms being rolled out in Accra and highlights the importance of global partnerships in supporting Africa’s economic rise.
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