On the second day of his state visit to Singapore, President John Dramani Mahama underscored the need for stronger financial and technological partnerships, positioning Ghana as a continental gateway under the African Continental Free Trade Area (AfCFTA) while consolidating economic stability at home.
“Ghana provides a good gateway and push for Africa into the world,” Mahama told Singaporean President Tharman Shanmugaratnam, citing AfCFTA, a youthful population, and an untapped West African market.
Mahama pointed to signs of recovery, noting that inflation “is down to about 13%” with a target of single digits by year-end, alongside tighter fiscal discipline and prioritised expenditure.
A key theme of the talks was payment system interoperability to unlock Africa’s trade potential.
“It is not enough to sign protocols on free movement of people and goods, we must be able to pay for the goods across borders,” Mahama stressed, highlighting Ghana’s support for the Pan-African Payment and Settlement System (PAPSS) and its interest in drawing from Singapore’s expertise.
President Tharman commended Ghana’s reform drive, describing Mahama’s reforms as “admirable” and essential for West Africa’s wider progress. He also welcomed Ghana’s push to expand fintech and SME cooperation, saying: “We are ready and glad to pursue them together.”
Both leaders flagged fintech, cross-border payments, and SME development as near-term priorities, while also framing the partnership in a broader Africa–Asia context.
Mahama congratulated Singapore on its 60th anniversary of independence and noted Ghana’s upcoming 70th in 2027, calling the milestones “an opportunity to accelerate Africa–Asia commerce through practical financial connectivity as well as trade protocols.”
Source: Myxyzonline.com
