Mahama Makes Case for Stronger Africa-Asia Partnerships in Face of Fragmented World
Delivering his address at the opening session of the Africa-Singapore Business Forum 2025 (#ASBF2025) on 26 August 2025, Ghanaian President John Mahama urged for deeper South-South Cooperation in the face of a fragmented world. President Mahama also positioned Ghana as the reliable gateway to the USD 3.4 trillion #GDP single market enabled by the #AfCFTA.
As tariffs proliferate and global supply chains (#GSC) rupture — sounding the ‘death knell of multilateralism’ — Africa and Asia must come together as the pair are complementary in resources, markets and know-how. The #GlobalSouth has an opportunity to show an alternative way by being ‘champions of open markets, trusted rules and practical partnerships that deliver jobs, technology transfer and shared prosperity.’
Africa is home to several of the world’s fastest-growing economies and its sizeable youth is digitally connected with high adoption of #FinTech and deep penetration of Mobile Money.
Currently, the trade volume between Africa and Singapore stands at USD 14 billion, with West Africa accounting for more than half of the total. The Ghana-Singapore bilateral trade reached USD 215 million in 2024. Currently, 69 Singaporean companies are present in the Ghanaian market and have cumulatively invested more than USD 2 billion in Ghana to date.
Mahama drove the message home that ‘Ghana is open for business 24 hours a day.’ He underscored that his Government is implementing business-friendly reforms and adopting good governance to enhance the Ease of Doing Business (#EDB) and to attract more #FDI. Factories, ports, and certain other businesses are running round-the-clock in shifts to keep the economy buzzing.
In particular, he presented the four integrated pillars of the National Development Plan (#NDP): Grow24, Make24, Show24, and Connect24. Grow24 developing more than 2 million hectares to foster agricultural production. Make24 allows industrial parks to operate 24/7 to boost manufacturing output. Show24 is showcasing the tourist attractions, especially around Lake Volta. Finally, Connect24 is focusing on building supporting infrastructure to cut down logistics cost.
“We are here to learn, to partner, and to deliver. Africa is investable, and Ghana is your reliable gateway to the continent … Ghana is open for business 24 hours a day.”
Ghana President John Mahama
Finally, Africa is the land of opportunities as the shortfall in funding gap is estimated at USD 1.3 trillion annually. However, access to capital remains prohibitive and Mahama called for a reform of the Global Financial Architecture.
Ghana is well-positioned to act as a gateway to Africa. Firstly, Ghana won the bid to hoss the AfCFTA Secretariat in Accra. Secondly, it provides direct access to the #ECOWAS bloc which is a regional single market of more than 400 million consumers.