President Mahama Calls Africa “World’s Most Dynamic Emerging Market” at Singapore Business Forum

Ghana’s President John Dramani Mahama delivered a compelling pitch to Singaporean business leaders at the Singapore-Africa Business Forum, declaring that “Africa is investable, and Ghana is your reliable gateway to that continent.”
Speaking at his first engagement during a three-day state visit to Singapore, President Mahama emphasized the urgency of South-South collaboration in today’s challenging global environment.
“In a world of tightened financial conditions, fragile supply chains and rising protectionism, South-South collaboration is not optional. It is essential,” Mahama told the forum attendees, which included entrepreneurs, investors, and policy makers.
Africa’s Growing Economic Power:
The President painted a picture of Africa as an economic powerhouse in the making, describing the continent as “the world’s most dynamic emerging market today.” He highlighted impressive statistics: “We are 1.4 billion people, young, fast urbanizing, digitally connected, rapidly growing middle class and Africa’s cities will host more than 700 million consumers by 2030.”
Mahama noted the significant growth in Africa-Singapore trade relations, stating that “Africa’s Singapore trade rose by 50% between 2020 and 2024, to nearly $14 billion with West Africa accounting for more than half of that.”
Ghana’s Strategic Position:
Positioning Ghana as the ideal entry point to African markets, President Mahama explained: “When I say gateway, it really is, you know, if you look at the map of Africa, Ghana is like a little door on that map. And aside from that, Ghana is the center of the world because it’s a country where the meridian and the equator intersect.”
The President outlined Ghana’s ambitious “24 hour economy” strategy, explaining: “Ghana is open for business 24 hours a day. We’re aligning infrastructure incentives and skills so factories, farms, ports and Service Centers can operate round the clock, shift safely and competitively.”
Addressing Financial Challenges:
Acknowledging Africa’s financing challenges, Mahama was candid about the continent’s needs: “Africa faces an annual financing gap estimated at $1.3 trillion. Infrastructure needs alone run between $181 and $221 billion per year, and the climate finance gap is about $213 billion annually.”
He emphasized Singapore’s potential role in bridging this gap: “Singapore’s excellence in project preparation, blended finance, risk management standards and dispute resolution is precisely what African projects need to move from pipeline to bankable bills.”
Five-Pillar Partnership Framework:
President Mahama proposed five areas for collaboration: efficient green supply chains, agribusiness and food systems, clean energy and carbon markets, digital economy and services, and advanced manufacturing and critical minerals.
“Singapore’s strength aligns perfectly with Africa’s and Ghana’s priorities,” he stated, outlining how “Singaporean technology and African scale can turn our farms into reliable suppliers for Asia, the Middle East and Europe.”
Investment Invitation:
The President extended a direct invitation to Singaporean businesses: “Join us, bring your teams, put Ghana’s readiness to the test. We’ll showcase bankable projects, provide direct access to our regulators, outline incentives for strategic investors and offer a one stop investor concierge so decisions can be made quickly and confidently.”
He concluded with an optimistic vision: “When Singaporean and African firms collaborate, we will create jobs for youth, will diversify global supply chains and drive growth in sustainability and prosperity.”
The forum continues over the next three days, with President Mahama scheduled to meet Prime Minister Lawrence Wong and participate in industry roundtables and site visits.