Singapore visit yields US$1bn investment package for Ghana

Ghana is set to benefit from US$1 billion worth of new investment deals following President John Dramani Mahama’s State visit to Singapore, Foreign Affairs Minister Samuel Okudzeto Ablakwa has announced.

In a Facebook post on Friday, August 29, Mr. Ablakwa described the visit as “historic,” noting that Mahama is the first Ghanaian President in history to be invited by a President of Singapore on a State Visit.

“But his visit was not just for the history books; he made a profound impact by securing US$1 billion worth of investment deals,” Ablakwa revealed.

Major Investment Partnerships

Among the agreements sealed under Mahama’s Reset Ghana Agenda are:

OLAM International: US$200 million investment in a 43,000-metric-ton pasta processing plant (opening next year) and feed processing facilities for poultry and aquaculture — expected to create 4,000 jobs.
Shangri-La Group: US$300 million for a green, ultra-modern 5-star hotel, a grand shopping mall, and a convention centre to position Ghana as West Africa’s premier conference hub.
University of Ghana: Construction of a 10,000-capacity student hostel.
Kotoka International Airport: Enhanced aviation security project with modern scanners to combat smuggling and drug trafficking.
Tema Port & Dry Dock: Strategic cooperation to expand maritime trade and ship maintenance facilities.
Oil Logistics: A new jetty for oil vessels.
Transport Infrastructure: Collaboration with Singapore’s Land Transport Authority to establish testing laboratories for road construction materials.
Financial Systems: A joint Ghana–Singapore payment platform to boost Afro-Asian trade.
TVET Development: Partnership with Singapore Institute of Technology (SIT) to establish a model Accra Institute of Technology.
Climate Action: Execution of projects under the Ghana–Singapore Carbon Credit Agreement.

Diplomatic and Institutional Gains

The two countries also signed an MoU for regular high-level political consultations, agreed to finalize a Bilateral Investment Treaty (BIT), and secured capacity-building support for Ghana’s forensic investigators under the Office of the Registrar of Allied Health Professionals (ORAL).

As part of a public service reset initiative, the first cohort of 18 Chief Directors from Ghana’s Ministries will travel to Singapore in September 2025 for a leadership and capacity-building bootcamp.

President Mahama further announced plans to open a Ghana Consulate in Singapore by 2026, while Singapore has already established Enterprise Singapore in Accra to oversee its West African investment portfolio.

Quoting Singapore’s President Tharman Shanmugaratnam, Ablakwa shared: “President Mahama is a man on a mission. He is determined to see his country and its young population succeed.”

Reflecting on the symbolism of the renewed partnership, Ablakwa stated

“Our two modern founding fathers, Kwame Nkrumah and Lee Kuan Yew, will be exceedingly ecstatic with the rekindling of high-level, impactful Ghana-Singapore relations.”

He concluded with a reaffirmation of Ghana’s diplomatic vision: “We shall continue to make sure our approach to diplomacy delivers the transformation and reset Ghanaians voted for, overwhelmingly. For God and Country.”

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