President of the Republic of Ghana, John Dramani Mahama, has announced the outcomes of productive bilateral talks with the President of Singapore, Tharman Shanmugaratnam, aimed at strengthening cooperation in technology, finance, agribusiness, and green growth.
Mahama congratulated Singapore on its 60th anniversary of independence while noting that Ghana is preparing to mark its 70th in 2027.
The two leaders committed to working closely on interoperable payment systems to facilitate trade under the African Continental Free Trade Area (AfCFTA).
“It is not enough to allow free movement of people and goods. Cross-border payments must also be seamless, and Ghana will support continent-wide solutions like PAPSS to expand payment systems,” Mahama stressed.
Green growth and carbon markets
The discussions also highlighted Ghana’s pioneering collaboration with Singapore on carbon markets. Singapore is the first Asian country to sign an implementation agreement with Ghana, creating a pathway for investment in low-carbon growth and climate-friendly initiatives.
Agro-industrial transformation
Mahama further outlined Ghana’s ambitious plans to develop over 2 million hectares along the Volta Economic Corridor into agro-processing parks and irrigated lands.
He described the initiative as a “game-changer” under his Resetting Ghana Agenda and 24-Hour economy programme, designed to boost agro-industrialisation and create jobs.
Economic stability and growth outlook
Commenting on the domestic economy, Mahama said Ghana is showing signs of recovery, with inflation easing to about 13 per cent and single-digit inflation targeted by year-end. He emphasised that the government is prioritising expenditure and ensuring fiscal discipline.
“The next phase is to translate stability into sustainable, job-rich growth through green finance, agro-industrialisation and the creative and digital economy, sectors that are already creating opportunities for our youth,” he said.
Strengthened bilateral confidence
President Tharman expressed strong confidence in Ghana’s reforms and its role as a strategic gateway under AfCFTA. Both leaders agreed to accelerate financial connectivity and drive real-sector investments to benefit citizens of both countries.
“Ghana must succeed for West Africa and Africa to succeed, and I see that you are dealing with the country’s issues, including the debt challenge, admiringly,” he said, calling Mahama’s address at the Africa Singapore Business Forum “a strong reflection of the bilateral relations between our two countries.”
He stated that “I know you inherited very difficult challenges, but you are off to a very strong start. I have confidence in your government.”
Mahama concluded by thanking the Government and people of Singapore for the warm reception, adding: “We look forward to turning these commitments into concrete projects, jobs and shared prosperity.”
