Wednesday, 09 July

Ghana secures $30million grant from China

Business
Chinese Ambassador and Foreignb Affairs Minister after siging the loan agreement
 

The Government of Ghana and the People’s Republic of China have signed a grant agreement for the construction of a modern market in Aflao, fulfilling a key campaign promise made by President John Mahama during the 2024 elections.

The signing ceremony took place on July 7, 2025, at the Ministry of Foreign Affairs in Accra.

The agreement was signed on behalf of Ghana by the Minister for Foreign Affairs and Regional Integration, Samuel Okudzeto-Ablakwa, while the Chinese Ambassador to Ghana, His Excellency Tong Defa, signed on behalf of the Chinese Government.

Acting on the express instructions of President Mahama, the funds will go toward building a state-of-the-art market complex in Aflao, aimed at transforming the local economy and reinforcing Aflao’s strategic position as a major West African trading hub.

The Aflao market project follows a precedent set during the Mills-Mahama administration, when a similar Chinese grant funded the construction of the iconic Kotokuraba Market in Cape Coast.

Once completed, the new market is expected to boost cross-border trade between Ghana and Togo, strengthen linkages with the Ho and Lomé markets, and improve livelihoods across the Volta Region.

The Minister say the project reflects Ghana’s commitment to deepening infrastructure development through strategic partnerships, while delivering on President Mahama’s vision of inclusive economic growth and regional integration.T

Source: Classfmonline.com/Cecil Mensah