Ghanaian President John Mahama opened his state visit to Singapore on Monday with a keynote address at the 8th Africa-Singapore Business Forum (ASBF), urging stronger South–South collaboration between Africa and Asia to drive sustainable growth, innovation, and shared prosperity.

Addressing government officials, industry leaders, and entrepreneurs, the President praised Enterprise Singapore and Singapore’s Minister Grace for their leadership in convening the forum, describing it as a vital platform for charting a future of practical partnerships.

“This is my first engagement in Singapore, and there could be no better place to start than in the company of the builders of prosperity—our entrepreneurs, investors, innovators, and policymakers who turn ideas into jobs and growth,” he said.

Over the next three days, the President is scheduled to hold meetings with Prime Minister Lawrence Wong and President Tharman Shanmugaratnam, join industry roundtables, and visit innovation hubs.

He noted Singapore’s “remarkable journey” in logistics, public administration, sustainability, and skills development as areas where Africa seeks to learn and partner.

Underscoring the forum’s theme, “Bridging Capabilities, Charting Sustainable Growth”, the President highlighted the growth in bilateral trade, noting that Africa-Singapore trade rose by nearly 50% between 2020 and 2024 to reach US$14 billion. West Africa accounted for more than half of that trade, while Ghana-Singapore bilateral trade hit US$215 million in 2024.

“Africa is investable, and Ghana is your reliable gateway to the continent,” he said, citing the African Continental Free Trade Area (AfCFTA), which has created a US$3.4 trillion single market.

With Africa’s population projected to surpass 1.4 billion people and its cities home to over 700 million consumers by 2030, the President stressed the urgency of mobilising capital for infrastructure, climate action, and financial reform.

Positioning Ghana as a stable, reform-minded entry point into Africa, the President outlined his government’s efforts to stabilise the economy, ease inflation, and simplify regulations.

He announced ongoing reforms to the Investment Promotion Act, including removing minimum capital thresholds for foreign investors.

Central to his vision is Ghana’s 24-Hour Economy strategy, aimed at ensuring round-the-clock productivity across factories, farms, ports, and services.

He spotlighted the Volta Economic Corridor, a multi-pillar development initiative that integrates year-round farming, agro-industrial parks, tourism, and a major inland waterway system on Lake Volta to cut logistics costs and boost competitiveness.

The President proposed five practical areas for deepened cooperation:

Efficient, green supply chains – modernising ports, waterways, and logistics.

Agribusiness and food systems – combining African scale with Singaporean technology.

Clean energy and carbon markets – leveraging Ghana’s carbon registry and climate agreements.

Digital economy and services – expanding e-payments, cybersecurity, and BPO hubs.

Advanced manufacturing and critical minerals – focusing on value addition in lithium, manganese, and other resources.

He invited Singaporean investors to test Ghana’s readiness during a Presidential Business Roundtable scheduled later this week, promising “direct access to regulators, a showcase of bankable projects, and a one-stop investor concierge.”

“Our proposition is straightforward: a stable, reform-minded country, connected to the AfCFTA, designed for scale… Ghana is open for business 24 hours a day,” he declared.

The President concluded by urging Africa and Singapore to serve as champions of open markets, trusted rules, and pragmatic collaboration.

“When Singaporean and African firms collaborate, we will create jobs for our youth, diversify global supply chains, and drive growth in sustainability,” he said.