President Mahama, IFC boss explore strategic investments to accelerate Ghana’s economic transformation
President John Dramani Mahama has met the Managing Director of the International Finance Corporation (IFC), Makhtar Diop, to explore strategic investment partnerships aimed at accelerating Ghana’s economic transformation.
The meeting, held at the Presidency on Wednesday, September 16, focused on ways to mobilise financing and private-sector investment into key areas of the economy, including agriculture, infrastructure, energy and education.
A key issue discussed was the expansion of commercial agriculture, particularly in cocoa, oil palm and poultry.
President Mahama also outlined the government’s plan to process at least 50 per cent of Ghana’s cocoa, agricultural produce and minerals locally as part of efforts to create more value, expand industries and generate jobs.
The discussions also covered the government’s Big Push Infrastructure Development Programme, with attention on the expansion of railways, roads, aviation infrastructure and digital connectivity.
According to the President, continued investment in these areas will be critical to creating the infrastructure needed to support businesses, attract investors and sustain economic growth.
Education also featured prominently in the engagement, with President Mahama announcing that Ghana has secured a $300 million World Bank financing package to support efforts to permanently end the double-track system in Senior High Schools (SHSs).
The financing is expected to help the government achieve its target of phasing out the double-track system by the end of 2027.
President Mahama, who was accompanied by the Chief of Staff and the Ministers for Finance, Energy and Trade, also briefed the IFC chief on developments in Ghana’s economy.
He attributed improvements in the economic outlook to measures focused on fiscal discipline and economic management, saying these had contributed to declining inflation, reduced national indebtedness and improved investor confidence.
Mr Makhtar Diop commended President Mahama’s commitment to economic reforms and expressed the IFC’s readiness to support Ghana’s commercial agriculture sector and broader efforts to build a resilient and sustainable economy.
