President Mahama pitches Ghana as gateway for Russian businesses to access African markets
President John Dramani Mahama has pitched Ghana as a strategic gateway for Russian businesses seeking to expand their operations across African markets, citing the country’s location on the Gulf of Guinea and its role as host of the Secretariat of the African Continental Free Trade Area (AfCFTA).
Addressing the 3rd Russia-Africa Summit in Moscow, President Mahama said Ghana offered significant opportunities for Russian investors to establish partnerships with local businesses and access markets across the continent.
“Our institutions and our strategic location on the Gulf of Guinea provides a foundation for investment, and as host of the Secretariat of the African Continental Free Trade Area, Ghana is also well placed to support businesses seeking opportunities across the continent,” he said.
President Mahama called for stronger trade relations between Africa and Russia, stressing that both sides needed to address the practical challenges limiting the growth of commercial partnerships.
“Your Excellencies, trade between Africa and Russia has considerable room to grow, both in volume and in the range of goods exchanged,” he said.
“Our task is to remove the practical barriers that prevent businesses from translating goodwill into lasting commercial relationships,” he added.
The President identified cocoa, cashew, horticulture, mineral processing and manufacturing as some of the sectors offering opportunities for expanded trade and investment in Ghana.
He invited Russian companies to collaborate with Ghanaian businesses in agro-processing, fertiliser production, agricultural machinery, pharmaceuticals, energy, transport infrastructure and the digital economy.
“In accordance with the agreements, rules, and implementation arrangements, we invite Russian businesses to work with Ghanaian counterparts in agro-processing, fertilizer production, agricultural machinery, pharmaceuticals, energy, transport infrastructure, and the digital economy,” President Mahama stated.
He emphasised that such partnerships should promote local expertise and create opportunities for small and medium-sized enterprises alongside major investors.
President Mahama also called for improved access for African products to Russian markets, arguing that stronger logistics, predictable standards and better market information would help make trade more balanced and beneficial to both sides.
He said closer cooperation between business communities was essential to translating the existing goodwill between Africa and Russia into meaningful economic gains.
The President further advocated mechanisms to facilitate legitimate trade settlements, including the use of local currencies and digital payment systems, to make transactions between businesses in both regions more efficient.
“Our central banks, commercial banks, and fintech companies have an important role to play in this regard,” he said.
President Mahama reaffirmed Ghana’s commitment to building international partnerships that advance its development priorities, calling for stronger economic cooperation that delivers tangible benefits to businesses and people in Ghana, Russia and across Africa.
