At the China-Ghana Business Forum in Shenzhen on September 7, 2024, President Nana Addo Dankwa Akufo-Addo urged Chinese investors to seize the significant opportunities available in Ghana as the country undergoes economic transformation.
Addressing Chinese business leaders, President Akufo-Addo highlighted the deep-rooted relationship between Ghana and China and emphasized the vast investment potential across various sectors, including manufacturing, agriculture, and green energy.
Opening his speech with the Chinese proverb, “If you want to walk far, walk with someone,” he illustrated Ghana’s intent to collaborate closely with China for sustained economic progress.
He underscored the longstanding trade partnership, noting that China has been Ghana’s largest trading partner since 2015, with bilateral trade reaching $9.23 billion in 2023.
The President praised Chinese investments in key areas like construction, energy, agriculture, and ICT, attributing this growth to Ghana’s stability, security, and favorable investment climate.
Acknowledging global challenges such as the COVID-19 pandemic and the Russia-Ukraine war, President Akufo-Addo called for international cooperation to build resilient, climate-conscious economies that can endure future global disruptions.
He emphasized the importance of partnerships in addressing Africa’s structural weaknesses and fostering robust, diversified economies.
President Akufo-Addo highlighted the progress Ghana has made under his administration, including the rapid economic growth between 2017 and 2020 and the government’s efforts to create a business-friendly environment.
Despite recent setbacks, he expressed optimism about Ghana’s recovery and growth prospects.
He detailed the Ghana CARES ‘Obaatampa’ Programme, an economic revitalization plan seeking significant private sector investment in agriculture, agro-processing, housing, and healthcare.
The President invited Chinese businesses to participate in this program, emphasizing the role of partnerships in economic recovery.
Additionally, President Akufo-Addo showcased various government initiatives aimed at boosting industrialization, such as the “Planting for Food and Jobs” initiative, the development of the automotive sector, and efforts to build integrated bauxite and iron industries.
These initiatives are part of Ghana’s strategy to shift from raw material exports to a value-added, industrialized economy.
He also highlighted Ghana’s role as the host of the African Continental Free Trade Area (AfCFTA) Secretariat in Accra, positioning the country as a strategic hub for regional trade and investment.
The President urged Chinese investors to view Ghana as a gateway to the continent, offering a stable regulatory environment, favorable fiscal policies, and abundant natural resources.
In closing, President Akufo-Addo reiterated Ghana’s openness to Chinese investment, inviting investors to forge strong partnerships and contribute to shared prosperity.
He thanked the Chinese business community for their continued interest and expressed hope for a deepened collaboration between Ghana and China.
