President Mahama Pitches Ghana as Investment Hub to Japanese Business Leaders

President John Dramani Mahama has called on Japanese businesses to combine their industrial expertise with Ghana’s economic opportunities, describing Africa as the next investment frontier during his address at the Ghana Presidential Investment Forum in Tokyo on the sidelines of TICAD IX.

Sharing remarkable news about Ghana, the President announced that the Ghanaian Cedi, once one of Africa’s most troubled currencies, has become the world’s best-performing currency this year. He said this represents a dramatic turnaround for a currency that was previously considered among the worst-performing globally.

According to President Mahama, Ghana’s inflation has also improved significantly, dropping from nearly 23% in 2024 to 13.7% currently. He stated that he expects it to reach single digits by the end of the year. 

He noted that the country’s credit rating has been upgraded from junk status to B-minus with a stable outlook, and he’s confident of another upgrade in the next review.

Ghana offers Japanese investors a strategic gateway to West Africa’s 400 million people and Africa’s broader market of 1.4 billion through the African Continental Free Trade Area. 

The country sits at a unique geographic position where major lines intersect, just kilometres off Ghana’s shore.

He said trade between the two countries has already grown by 24% from 2020 to 2024, with Japanese investments totalling $152 million over recent decades. 

However, President Mahama stated that he believes there’s much room for growth.

He noted that Japanese automotive companies like Toyota and Honda already operate in Ghana, and according to the President, Ghana has the potential to become a major assembly hub for the African market. 

He said Ghana’s comparative advantage in automobile assembly could help Japanese manufacturers export throughout the continent.

He mentioned that the country’s agricultural potential is equally promising. Ghana has abundant arable land, consistent sunshine, and impressive water resources, including the world’s largest man-made lake, Lake Volta. 

President Mahama envisions a “water economic corridor” that would bring 2 million hectares under irrigation while establishing industrial parks for processing agricultural products and manufacturing textiles for European and American markets.

Ghana’s energy sector offers another opportunity. The Akosombo Hydroelectric Dam generates 1,020 megawatts of power, with excess electricity available for export to neighboring countries through the West African Power Pool.

The country’s infrastructure continues to improve, with the MPS port in Tema ranking among Africa’s best-performing ports. It can accommodate the world’s largest cargo ships, with three of the biggest vessels docking there this year alone.

For technology investments, Ghana boasts a young, English-speaking population that quickly adapts to new fields like robotics, artificial intelligence, and financial technology. The fintech sector is growing faster in Ghana than in any other African country.

To make investment easier, President Mahama announced plans to revise the Ghana Investment Promotion Center Act, lowering minimum capital requirements so investors with as little as $50,000 to $100,000 can establish businesses. 

The government is also launching a $10 billion infrastructure program, investing $2 billion annually in roads, industrial development, and agro-processing facilities.

President Mahama positioned Africa as the next investment frontier, noting that most other regions are saturated with investment opportunities. 

He urged Japanese companies to “marry Japanese precision with Ghanaian potential” and declared Ghana “open for business 24 hours a day,” inviting Japanese firms to use Ghana as their West African hub.

Richard Aniagyei, ISD