Foreign Affairs Minister Samuel Okudzeto Ablakwa has disclosed that President John Mahama’s recent state visit to Singapore has unlocked over US$1 billion in fresh investments for Ghana, cementing the trip as one of the most consequential in the country’s diplomatic history.
In a statement, Mr. Ablakwa highlighted that Mahama is the first Ghanaian leader to be officially invited on a state visit by Singapore, underscoring the growing strategic ties between the two nations.
He stressed that the deals secured directly support Mahama’s Reset Agenda, aimed at revitalizing Ghana’s economy through industrialization, trade, and human capital development.
Among the flagship agreements is a US$200 million investment from OLAM, which will fund a 43,000-metric-ton pasta processing plant and feed mills for poultry and aquaculture—expected to create about 4,000 jobs.
Global hospitality giant Shangri-La also pledged US$300 million for a green five-star hotel, a grand mall, and a convention center, designed to position Ghana as West Africa’s top conference and tourism hub.
Other commitments include:
- Expanded security upgrades at Kotoka International Airport
- Port expansion and dry dock revival at Tema
- Construction of a new oil jetty
- Establishment of road testing labs in partnership with Singapore’s Land Transport Authority
- Collaboration between the central banks of Ghana and Singapore to create a cross-border payment platform
- A 10,000-bed student hostel at the University of Ghana
- A model Accra Institute of Technology, in partnership with the Singapore Institute of Technology
- Joint projects under a bilateral carbon credit agreement
The two countries also signed an MoU for regular political consultations, agreed to conclude a Bilateral Investment Treaty, and secured Singapore’s backing for Ghana’s forensic training initiative, ORAL.
As part of the public sector reforms, the first batch of 18 Ghanaian chief directors will participate in a leadership bootcamp in Singapore next month.
President Mahama further revealed plans to open a Ghanaian consulate in Singapore by 2026, while Singapore has already launched its Enterprise Singapore office in Accra to supervise West African operations.
Singapore’s President, Tharman Shanmugaratnam, hailed Mahama as “a man on a mission,” praising his determination to secure opportunities for Ghana’s youthful population.
Ablakwa framed the visit as not only historic but transformative, noting that the rekindled partnership between Ghana and Singapore mirrors the vision once shared by Kwame Nkrumah and Lee Kuan Yew—founding leaders who forged a friendship based on mutual respect and shared development ideals.
