President John Dramani Mahama has called for stronger trade and investment ties between Ghana and Russia, identifying opportunities in agriculture, agro-processing, healthcare, energy, transport infrastructure and digital services at the Russia-Africa Summit in Moscow on October 29, 2026.
Addressing the summit, President Mahama urged both countries to remove barriers to trade, improve market access for African products and explore local-currency and digital payment systems to facilitate commercial transactions.
“Our interactions and discussions since yesterday reveal many opportunities for expanding the relations between Russia and Africa in the areas of trade and investment”.
HE John Dramani Mahama, President of Ghana
The President highlighted opportunities in cocoa, cashew, shea nut, horticulture, mineral processing and manufacturing, citing Ghana’s resources and strategic location on the Gulf of Guinea as advantages for investors.
He also pointed to Ghana’s role as host of the Secretariat of the African Continental Free Trade Area (AfCFTA), which positions the country as a potential base for businesses seeking opportunities across the continent.
President Mahama invited Russian companies to partner with Ghanaian businesses in agro-processing, fertiliser production, agricultural machinery, pharmaceuticals, energy, transport infrastructure and the digital economy.
He said partnerships should build local expertise and extend opportunities to small and medium-sized enterprises. “Joint ventures should build local expertise and create opportunities for small and medium-sized businesses alongside large investors,” he said.
President Calls for Improved Market Access
President Mahama said Africa-Russia trade had significant room to grow in both volume and the range of goods exchanged, but practical barriers continued to constrain commercial relationships.
He called for better market information, predictable standards, stronger logistics and closer cooperation between business communities to improve access for African products in Russian markets.
The measures, he said, could help make trade more balanced and beneficial to both sides. The President also called for mechanisms to facilitate legitimate trade settlements, including the use of local currencies and digital payment systems.
“Our central banks, commercial banks and fintech companies have an important role to play in this regard,” he said. He urged stakeholders to consider available alternatives to make cross-border trade and investment transactions more seamless. However, he did not announce a specific payment agreement or identify a preferred settlement mechanism.
Agriculture and Food Security in Focus
Agriculture and food security featured prominently in President Mahama’s proposed areas of cooperation, particularly fertiliser supply, agricultural machinery and scientific research.
He said Russia’s experience in these fields offered scope for collaboration, adding that reliable fertiliser supplies at competitive prices would help Ghanaian farmers plan with greater confidence.
President Mahama also identified investment in local fertiliser production and blending as an opportunity to strengthen resilience. Other areas included soil mapping, precision agriculture and the use of satellite information to guide planting and the application of farm inputs.
“Technology becomes valuable when it helps a farmer make better decisions, lowers his costs and protects his harvest,” he said. The President did not outline specific funding commitments or timelines for the proposed agricultural initiatives.
Ghana Reaffirms Non-Alignment
President Mahama assured that Ghana’s engagement with Russia remained guided by its foreign policy principles of non-alignment, respect for sovereignty, equality and peaceful international cooperation.
He reiterated that Ghana sought friendship with all countries and partnerships that advance its development priorities. The proposals outlined in Moscow focus on expanding export opportunities, attracting investment into productive sectors, improving payment arrangements and strengthening agricultural capacity.
President Mahama’s push for investment builds on nearly seven decades of diplomatic relations between Ghana and Russia, formally established on January 14, 1958.
The two countries will mark the 70th anniversary of those ties in 2028, providing an opportunity to translate their longstanding diplomatic friendship into stronger economic cooperation.
Bilateral engagement has historically covered education, healthcare, energy, science and technology, with both countries now seeking to expand cooperation in trade, industrial development and private-sector investment.
Bilateral trade rose from US$247 million in 2022 to more than US$800 million in 2024, according to the Russian ambassador to Ghana. Against this background, President Mahama’s address at the Russia-Africa Summit signals an effort to give the longstanding relationship a stronger commercial focus.
His proposals on agricultural technology, fertiliser production, agro-processing, infrastructure and digital payments identify practical areas where cooperation could support Ghana’s industrialisation, create business opportunities and strengthen food security.
Ghana’s position as host of the AfCFTA Secretariat also offers a potential gateway for Russian businesses seeking access to wider African markets. However, the significance of the renewed push will ultimately depend on whether the two countries convert diplomatic commitments into concrete investment agreements, technology transfer, local capacity-building and sustainable commercial partnerships.
With the 70th anniversary approaching in 2028, the challenge for both governments is to ensure that the next chapter of Ghana-Russia relations delivers measurable economic benefits for businesses, farmers and workers in both countries.
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