On the second day of his three-day state visit to Singapore, President John Dramani Mahama highlighted the importance of closer financial and technological cooperation, stressing that Ghana is positioning itself as a continental gateway under the African Continental Free Trade Area (AfCFTA) while restoring macroeconomic stability.
“Ghana provides a good gateway and push for Africa into the world,” Mahama said during bilateral talks with Singaporean President Tharman Shanmugaratnam, citing AfCFTA, Africa’s youthful population, and untapped West African markets.
He noted that inflation “is down to about 13%” with the government “targeting a single digit by the end of the year,” while prioritising expenditure and ensuring fiscal discipline.
A central theme of the bilateral talks was the interoperability of payments to unlock trade across African borders.
“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 said.
He added that Ghana is backing continent-wide solutions such as the Pan-African Payment and Settlement System (PAPSS) and is eager to draw on Singapore’s expertise.
“Singapore has a comparative advantage over Africa when it comes to payment systems, and we are looking to learn from you,” he said.
President Tharman praised Ghana’s reform efforts:
“Ghana must succeed for West Africa and Africa to succeed, and I see that you are dealing with the country’s issues, including the debt challenge, admiringly,” he said, describing Mahama’s address at the Africa–Singapore Business Forum as “a strong reflection of the bilateral relations between our two countries.”
Both leaders identified fintech, cross-border payments, and SME development as near-term priorities.
“Other areas of interest are fintech and payment systems, cross-border payments, and development of SMEs… and we are ready and glad to pursue them together,” Tharman said.
Mahama also congratulated Singapore on its 60th anniversary of independence and noted that Ghana will mark its 70th anniversary in 2027. He framed the partnership as one that can accelerate Africa–Asia commerce through practical financial connectivity alongside trade protocols.
