African business magnate and Dangote Group President Aliko Dangote has praised President John Dramani Mahama for what he described as Ghana’s rapid economic turnaround, attributing the progress to restored investor confidence and sound decision-making rather than extraordinary measures.
Speaking at the “Accra Reset: Full Circle – Making Global Development Work Again” event in New York on Monday, September 21, on the sidelines of the 81st United Nations General Assembly, Dangote said Ghana’s recent economic performance demonstrated the strong link between trust and investment.
“President Mahama turned around the economy of Ghana in a very short time. It wasn’t a very good case, but when he came in, he didn’t do any magic, but he did the right things,” Dangote stated.
He added: “He didn’t do any magic. He’s not a magician, but he did the right things, and people really have a lot of trust in him. And that’s why Ghana’s economy turned around. This has actually shown that money follows trust.”
Dangote, widely regarded as Africa’s richest man, said investors are more likely to commit capital when they have confidence in a country’s leadership and economic direction. He cited Ghana’s experience as an example of how restoring trust can help reverse difficult economic conditions.
His comments come as the Mahama administration continues to highlight economic stabilisation under its Resetting Ghana Agenda. Key indicators cited by the government include a significant decline in inflation, an appreciation of the cedi, improved fiscal performance and stronger international reserves.
President Mahama assumed office in January 2025 amid significant economic challenges, including high inflation and weakened investor confidence following previous economic difficulties. Since then, official figures and independent assessments have pointed to improvements in macroeconomic stability, with growth, currency performance and fiscal indicators recording positive trends.
Dangote’s remarks highlight the international attention surrounding Ghana’s economic recovery and the importance of private-sector confidence in sustaining the momentum.
The Accra Reset event formed part of broader efforts by the Mahama administration to engage global partners and investors on Ghana’s development priorities.
While structural reforms and sustained policy discipline remain important for long-term gains, positive assessments from prominent African business leaders such as Dangote could contribute to investor sentiment and renewed interest in the Ghanaian economy.
