President Mahama Discusses Strengthening Cooperation with Singapore

President John Dramani Mahama recently met with Singapore’s President Tharman Shanmugaratnam to discuss ways to enhance collaboration in technology, finance, agribusiness, and green growth.

Celebrating Milestones

During the meeting, President Mahama congratulated Singapore on its 60th anniversary of independence, while highlighting Ghana’s upcoming 70th anniversary in 2027. Both leaders emphasized the importance of financial connectivity, especially interoperable payment systems, to facilitate trade within the African Continental Free Trade Area (AfCFTA).

Seamless Cross-Border Payments

“Simply allowing free movement of people and goods is not enough. Cross-border payments must also be seamless, and Ghana is committed to supporting continent-wide solutions like PAPSS to enhance payment systems,” President Mahama emphasized.

Pioneering Initiatives

President Mahama and President Tharman discussed Singapore’s groundbreaking role as the first Asian country to sign an implementation agreement with Ghana on carbon markets. This move is expected to attract significant investment in low-carbon growth.

Agro-Processing Parks and Economic Development

President Mahama outlined Ghana’s plans to develop over two million hectares along the Volta Economic Corridor into agro-processing parks and irrigated farmlands. This initiative is a key component of Ghana’s Resetting Ghana Agenda and the 24-Hour Economy program, aimed at boosting industrialization, job creation, and enhancing food security.

Economic Progress and Future Plans

President Mahama highlighted Ghana’s improving economic stability, with inflation expected to decrease from 13% to single digits by the year-end. He emphasized the need to transition from stability to sustainable, job-focused growth through green finance, agro-industrialization, and expansion of the digital and creative economy.

Continued Partnership

President Tharman praised Ghana’s reforms and reiterated Singapore’s commitment to collaborating with Ghana as a gateway within AfCFTA. Both leaders expressed their dedication to accelerating practical financial connectivity and investments that benefit their respective populations.

Conclusion

President Mahama concluded the meeting with optimism, stating, “Together, we will drive forward practical financial connectivity and real sector investments to uplift our people.”