PRESIDENT John Dramani Mahama has stated that Ghana is witnessing renewed growth and improved investor confidence after several years of declined confidence in the economy.

Addressing investors at the 12th Africa Debate in London yesterday, President Mahama said when he  assumed office in January 2025, Ghana was confronted with one of its most difficult economic periods in recent history with high inflation, weakened investor confidence, a depreciating currency, high public debt and a painful debt restructuring programme amongst others.

A year and half on, he said inflation has fallen dramatically, currently at 3.7 per cent from 23.8 per cent, the cedi stabilised, fiscal position improved, international reserves hitting almost US$14 billion from US$8 billion, and improved credit rating to positive outlook from a junk status.

“And let me emphasize that this recovery is not nearly statistical, it is structural. We are repositioning Ghana as a productive economy built on industrialisation, agro-processing, exports, logistics, digital transformation and value addition,” he told the investors.

Mr Mahama said that through the much publicised 24-hour economy initiative and accelerated export development programme, Ghana is creating a new growth model designed to expand production, increase exports, create jobs and improve competitiveness.

“This initiative is not just about extending working hours, it is about reorganising the Ghanaian economy to maximise productivity across manufacturing, logistics, transportation, agriculture, pharmaceuticals, digital services, tourism and the creative economy.

“Ladies and gentlemen, the message I bring to investors today is simple. Ghana is open for business. Ghana is ready for strategic partnerships that are uncovered in long-term value creation,” he emphasized.

In view of that, he said government is undertaking major reforms to improve the ease of doing business including strengthening transparency, modernising infrastructure to create a more predictable investment environment.

Speaking on the theme “Redefining partnerships, navigating a world in transition”, President Mahama said the current world order demands a new framework for engagement between Africa and the world.

He noted that for too long, Africa has been viewed primarily through the lenses of aid, crisis and dependency but that narrative is collapsing under the weight of current reality.

“The Africa of today is youthful, it is dynamic, it is entrepreneurial, it is digitally connected, it is resource rich and increasingly reform-oriented. Africa is home to the world’s youngest population and by 2051 in every four people on earth will be an African.

“Our continent possesses vast reserves of critical minerals required for the global energy transition, including cobalt, lithium, manganese, copper, bauxite and rare earth elements,” he preached.

According to President Mahama, the African Continental Free Trade Area, the world’s largest free trade area by a number of participating countries, further positions the continent as the preferred destination for investments.

He pointed out that even amid global uncertainty, Africa continues to demonstrate resilience and growth. “This is Africa’s present reality”.

The continent, however, President Mahama indicated, does not seek sympathy but fair, strategic and mutually beneficial partnerships.

“The era in which Africa served merely as a source of raw material for other nations’ industrialisation must end. The future relationship between Africa and the world must be built on value addition, on industrialisation, technology transfer, infrastructure investment, skills development and a shared prosperity,” he stated.

To this end, he said the United Kingdom has a unique opportunity to redefine its relationship with Africa for the 25th century beyond the historical ties and capitalise on the strategic economic imperative for deeper UK-Africa engagement.