Ghana targets £1.5 billion UK trade growth

President John Dramani Mahama urged British and international investors to utilize Ghana's economic improvements, political stability, and expanding opportunities. He made this appeal at the Ghana-UK Investment Summit in London, presenting Ghana as a leading African investment destination.

The summit occurred at a crucial time for both Ghana and Africa as businesses are reassessing supply chains. Companies are diversifying investment destinations and seeking resilient growth markets amidst changing global economic conditions. Ghana's longstanding relationship with the United Kingdom is evolving beyond historical ties into stronger partnerships.

These partnerships aim to increase trade, innovation, investment, education, and democratic governance. The Ghanaian government inherited significant economic challenges, including high inflation and weak investor confidence. It responded with fiscal consolidation and institutional reforms.

President Mahama noted that annual bilateral trade between Ghana and the UK currently exceeds £1.5 billion. He stated this relationship has significant growth potential. Increased cooperation in manufacturing, technology infrastructure, agribusiness, renewable energy, and financial services can drive this growth.

Inflation has dropped sharply from 23.8 per cent in December 2024 to 3.4 per cent in April 2026. International reserves increased from approximately $8.9 billion to nearly $13.9 billion. Interest rates are easing, and the Ghana cedi has strengthened against major international currencies.

These developments create a more predictable operating environment for businesses, reducing uncertainty. The improved currency stability supports long-term business planning. Ghana's economy expanded by about 6 per cent in 2025, with its Gross Domestic Product (GDP) surpassing $114 billion.

This growth positioned Ghana as the eighth-largest economy in Africa. President Mahama said Ghana's transformation agenda focuses on building a productive, export-oriented, industrialized, and technology-driven economy. This aims to create jobs and deliver competitive returns for investors.

Central to this vision are initiatives like the 24-Hour Economy and the Accelerated Export Development Programme. The 24-Hour Economy is a national productivity strategy, aiming to maximize the use of infrastructure and labor. It seeks to increase productivity, stimulate manufacturing, and boost exports.

The government aligns infrastructure, financing, and transportation to support businesses operating beyond traditional hours. This creates investment opportunities in logistics, industrial parks, and transport. Agro-processing, manufacturing, and information technology also present investment prospects.

Agriculture is identified as one of Ghana's most promising investment sectors. The Feed Ghana Programme is a major initiative to modernize agriculture. Efforts are underway to establish agro-industrial enclaves and improve irrigation systems. Investment opportunities exist in cocoa processing, oil palm, and cashew.

In industry, Ghana aims to move higher up the global value chain by expanding value addition across strategic sectors. This strategy covers cocoa, gold, and bauxite. President Mahama stated that Ghana must become a production hub, not merely a source of raw commodities.