President John Mahama Secures US$1billion Investment Deals in Singapore
- President Mahama has made history as the first Ghanaian head of state to visit Singapore in a historic economic mission
- The visit secured US$1 billion investment deals, including a five-star hotel, processing plants and job creation opportunities
- Ghana and Singapore agreed on key collaborations in transport, education, security, and trade during the high-level trip
President John Dramani Mahama has made remarkable strides with his recent trip to Singapore.
According to the Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, President Mahama is the first Ghanaian head of state to visit the island country in Southeast Asia.
Source: Facebook
In a Facebook post, Mr Ablakwa also disclosed that President Mahama's trip to Singapore yielded US$1 billion worth of investment deals, marking a major milestone in Ghana's economic development.
Providing more details on the trip to Singapore, the Foreign Affairs Minister stated that OLAM has committed to spend US$200 million for establishing new projects in Ghana.
The projects, he added, include a new 43,000 metric ton pasta processing plant to be opened next year, and feed processing plants for poultry and aquaculture. Some 4,000 jobs are expected to be created.
Mr Ablakwa stated Shangri-La has pledged to construct a US$300 million green ultra-modern iconic five-star hotel with a grand mall for local and international brands, and a convention centre to make Ghana the West African conference destination.
Other deals secured by President Mahama
Additionally, he said a 10,000-capacity student hostel for the University of Ghana, and a new Kotoka International Airport enhanced security and scanners project, aligns with the latest global standards to check smuggling and other offences.
Furthermore, the minister said there will be cooperation to expand Ghana’s Tema Port and revive the Tema dry dock, as well as the construction of a new jetty for oil ships.
Mr Ablakwa also disclosed that President Mahama secured a cooperation agreement with Singapore’s Land Transport Authority to establish testing labs across Ghana to ensure only certified quality materials are used to construct durable roads.
Read the Facebook post below:
He further stated that collaboration has been secured between the central banks of Ghana and Singapore to launch a common payment platform to boost trade and international commerce between Africa and Asia.
In addition to the above, Mr Ablakwa mentioned a TVET arrangement with the Singapore Institute of Technology (SIT) to establish a model Accra Institute of Technology, and the execution of projects under Ghana’s bilateral Carbon Credit Agreement.
"In addition to these transformative projects, Ghana and Singapore signed an MoU for regular high-level political consultations, agreed to finalise negotiations on a Bilateral Investment Treaty (BIT), and secured support for ORAL through a capacity building cooperation for forensic investigators," he wrote.
"Also, under a special public service reset initiative, the first batch of 18 Chief Directors of Ghana’s Ministries will travel to Singapore next month (September 2025) for an intensive capacity building and knowledge-sharing leadership bootcamp," he added.
According to Mr Ablakwa, President Mahama announced that Ghana is set to establish a consulate in Singapore by 2026, following the opening of Enterprise Singapore in Accra to oversee Southeast Asia's West African investment portfolio.
Source: UGC
President Mahama takes 24-Hour Economy global
In a related development, YEN.com.gh reported that President John Mahama touted the 24-Hour Economy during his appearance at the Africa-Singapore Business Forum.
Mahama also said Ghana was the gateway for Africa and its emerging markets, which were ready to do business with the world.
The 24-Hour Economy and Accelerated Export Development Programme was meant to turn around Ghana's import-dependent economy.
Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.
Source: YEN.com.gh
