President John Dramani Mahama spoke at the 8th Africa–Singapore Business Forum in Singapore
President John Dramani Mahama has disclosed that Ghana–Singapore trade reached over $215 million in 2024.
According to him, this reflects a growing trend of elevated trade levels between the two countries and Africa more broadly. He noted that the next milestone is to push this figure into the billion-dollar range.
Speaking at the opening of the 8th Africa–Singapore Business Forum in Singapore on August 26, 2025, President Mahama emphasised the need to deepen existing trade relations.
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“Ghana–Singapore trade has also grown, reaching over US$215 million in 2024. Africa–Singapore trade rose by about 50 per cent between 2020 and 2024 to nearly US$14 billion, with West Africa accounting for more than half of that,” he said.
The president also touted Africa as a continent ripe for investment, positioning Ghana as the gateway to Africa’s opportunities.
“I speak today as an African leader and as President of Ghana. Our message is simple; Africa is investable, and Ghana is your reliable gateway to the continent. The continent is the world’s most dynamic emerging market.
“We are 1.4 billion people today, young, fast-urbanising, digitally connected—and by 2030, Africa’s cities will host more than 700 million consumers,” he added.
Touching on free trade President, Mahama highlighted the promise of the African Continental Free Trade Area (AfCFTA), describing it as the largest new free trade area in the world by number of participating countries.
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“This has created a $3.4 trillion market and lowered barriers across supply chains,” he noted.
The former president further stressed Africa’s untapped potential, particularly in renewable energy, mobile money, and fintech adoption.
“Africa holds vast renewable energy potential and is already a global leader in mobile money and fintech adoption. This is a market ready for scaled solutions. Yet this opportunity must be matched with capital at the right price and with the right instruments,” he concluded.
SSD/MA
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