President John Mahama has highlighted the need for enhanced financial and technological collaboration, stating that Ghana is actively positioning itself as a key entry point to the continent under the African Continental Free Trade Area (AfCFTA).
He added that these efforts align with the country’s broader goal of restoring macroeconomic stability. In bilateral talks with Singaporean President Tharman Shanmugaratnam, President Mahama said Ghana provides the gateway and push for Africa into the world.
He noted that inflation is down to about 13 percent, and the government is targeting a single digit by the end of the year alongside prioritizing expenditure and ensuring fiscal discipline.
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The bilateral talks hinged on interoperability of payments to unlock trade across African borders. President Mahama pointed to the need to back signed protocols with action. He noted that Ghana is backing continent-wide solutions with PAPSS, the Pan-African Payment and Settlement System, and would draw on Singapore’s expertise, because Singapore has a comparative advantage in Africa when it comes to payment systems. President Mahama congratulated Singapore on the city-state’s 60th anniversary of independence and noted that Ghana will mark its 70th anniversary in 2027, framing the partnership as one that can accelerate Africa–Asia commerce through practical financial connectivity as well as trade protocols.
President Tharman praised Ghana’s reform efforts saying Ghana must succeed for West Africa and Africa to succeed, acknowledging President Mahama’s efforts at dealing with the country’s issues, including the debt challenge. He described President Mahama’s address at the Africa Singapore Business Forum as a strong reflection of the bilateral relations between the two countries.
President Mahama and his Singaporean Counterpart, Mr. Tharman, both flagged fintech, cross-border payments and SME development as near-term priorities.
