The burgeoning economic partnership between Ghana and China took a significant step forward with a high-level business engagement held in Accra, co-hosted by the Chinese Embassy in Ghana and the 24-Hour Economy and Accelerated Export Development Secretariat. This strategic meeting served as a platform for key stakeholders from both nations, including senior Ghanaian officials and leading Chinese private sector players, to explore collaborative opportunities aligned with Ghana’s ambitious 24H+ Programme. This flagship initiative aims to propel industrialization, bolster exports, and generate substantial employment opportunities across the country. The engagement focused on the practical implementation of the 24H+ Programme and the crucial role of private sector investment, particularly from China, in achieving tangible results.
The 24-Hour Economy Secretariat showcased a diverse pipeline of projects encompassing key sectors such as agriculture, logistics, manufacturing, healthcare, and the creative economy. These projects, currently at various stages of feasibility studies and early development, presented a concrete roadmap for potential investors. The invitation extended to Chinese businesses emphasized the collaborative nature of the initiative, encouraging them to partner with Ghana in advancing these projects from concept to execution and ultimately delivering impactful outcomes on the ground. The emphasis was not merely on policy pronouncements but on demonstrable progress and tangible value creation for Ghana. This pragmatic approach, focusing on action and results, underscored Ghana’s commitment to attracting and facilitating impactful investments.
Mr. Goosie Tanoh, Presidential Adviser on the 24-Hour Economy and Accelerated Export Development, highlighted the importance of project delivery, emphasizing that the engagement was centered on tangible outcomes rather than abstract policy pronouncements. He reaffirmed the commitment to developing a portfolio of coordinated projects designed to breathe life into the 24H+ Programme and generate real value for Ghana. The development of concept notes for the initial 20 priority projects and the commencement of feasibility studies signaled a practical approach towards making each project bankable and investment-ready. This structured approach, combined with a commitment to transparency, aimed to create a conducive environment for investor participation.
Underscoring the historical depth of the Ghana-China relationship, Mr. Tanoh noted the long-standing and multifaceted ties between the two nations, tracing back to Ghana’s struggle for independence and the collaboration between Chairman Mao, Premier Zhou Enlai, and Ghana’s first President, Kwame Nkrumah. Recognizing the challenges faced by foreign investors navigating bureaucratic procedures, Mr. Tanoh confirmed the Secretariat’s commitment to streamlining the investment process. Working in collaboration with the Ministry of Finance and other relevant agencies, the Secretariat is finalizing a simplified and transparent incentive and exemption regime, to be integrated into a forthcoming consolidated incentives framework. This effort aimed to create a more predictable and investor-friendly environment.
Chinese Ambassador to Ghana, H.E. Tong Defa, echoed the significance of the partnership, highlighting the alignment between the 24H+ vision and China’s development cooperation strategy in Africa. He emphasized the robust trade relationship between the two nations, noting that China remains Ghana’s largest trading partner and a major source of foreign investment. Ambassador Tong Defa cited the impressive growth in bilateral trade, which reached an unprecedented $11.8 billion in 2024, marking a year-on-year growth of 7.1%. He further reinforced China’s commitment to supporting the various sub-programs within the 24H+ initiative, particularly in areas such as agriculture, logistics, energy, and agro-industrial infrastructure. The shared vision for development and mutual economic benefit underpinned the growing partnership.
The engagement also featured the active participation of key Ghanaian institutions vital to investment, finance, and infrastructure development, including the Ghana Investment Promotion Centre, the Ghana Infrastructure Investment Fund, the Ghana EXIM Bank, and the Development Bank Ghana. These institutions presented investment opportunities and provided assurances to Chinese investors regarding the transparency and efficiency of project execution. Mr. Alexander Kofi-Mensah Mould, CEO of the Millennium Development Authority (MiDA), assured investors of MiDA’s role in overseeing the transparent and efficient execution of government-led projects, from scoping and procurement to timely delivery within budget. Highlighting investment-ready opportunities in areas such as agro-ecological parks, feeder roads, and Volta Lake transport systems, Mr. Mould emphasized the government’s preparedness to bridge viability gaps to ensure project bankability. The presence of these institutions demonstrated Ghana’s commitment to providing a robust framework for facilitating investment and project implementation. The event also highlighted the strong representation from the Chinese private sector, with over 50 business leaders from major firms and industry associations operating across Ghana actively participating. The overall sentiment expressed by participants from both sides was positive, with particular appreciation for the structured, data-driven approach of the 24H+ Programme and the clarity of Ghana’s investment roadmap. The meeting underscored China’s role as a strategic partner in Ghana’s long-term economic transformation and confirmed the strong interest from Chinese investors in participating in the delivery of priority projects under the 24-Hour Economy initiative. This collaborative effort aimed to foster sustainable development and mutual economic benefit for both nations.
