UK and Ghana Launch GHS 3.2 Billion Growth Pact

Ghana and the United Kingdom have launched a new three-year Growth Partnership. This initiative aims to mobilize up to GHS 3.2 billion (£215 million) in investments, creating jobs and supporting infrastructure development.

The agreement was signed during President John Dramani Mahama’s visit to London. It outlines a cooperation framework from 2026 to 2028. The partnership focuses on private-sector growth, trade expansion, industrial development, and skills training.

Ghana is actively working to speed up its economic recovery and attract foreign investment. The nation wants to become a regional hub for manufacturing, logistics, and green growth. This follows years of financial difficulty and debt restructuring efforts. This partnership boosts Ghana's push for economic stability and growth.

British High Commissioner to Ghana, Christian Rogg, stated the partnership aims for practical economic benefits. "This Growth Partnership is about real change people can see and feel," Rogg said. He added it means more skilled jobs, stronger transport links, better access to finance, and new opportunities for Ghanaians.

A major project under this plan is a GHS 1.5 billion (£101 million) maritime infrastructure investment. This will develop the first commercial ship repair facility in the Gulf of Guinea. This project, named ShipRite, is expected to create 430 direct jobs. It strengthens Ghana's goal to become a regional maritime services hub. The project involves the Ghana Ports and Harbours Authority (GPHA) and investors, including the UK-supported Private Infrastructure Development Group (PIDG).

The agreement also includes a GHS 75 million (£5 million) Green Project Preparation Facility. This facility helps public and private developers turn climate-focused infrastructure ideas into viable projects. Hosted by Financial Sector Deepening Africa (FSD Africa) and the Ghana Infrastructure Investment Fund (GIIF), it could unlock GHS 2.7 billion (£180 million) in infrastructure investments. In the green economy sector, UK-based Mere Plantations announced plans for a GHS 1.3 billion (£85 million) reforestation investment fund. This fund will support reforestation and carbon-credit projects, restoring degraded land and creating jobs.

The partnership highlights technology and innovation. The UK committed GHS 90 million (£6 million) for science and technology collaboration. This includes supporting Ghana’s Artificial Intelligence Strategy. These funds will foster cooperation between universities, research institutions, and technology stakeholders. They also support skills development in new digital sectors. Additional agreements include a GHS 135 million (£9 million) forest restoration program in the Oti Region. A GHS 60 million (£4 million) healthcare skills partnership will provide specialist clinical engineering training. This strengthens technical capacity in Ghana’s health sector. The partnership builds on commitments made during the Ghana Investment Summit in London. It also coincides with the fifth anniversary of the UK-Ghana Trade Partnership Agreement. Bilateral trade between the two countries reached GHS 24 billion (£1.6 billion), a 12.5% growth since 2024. The UK, through British International Investment (BII), maintains an investment portfolio of about GHS 2.1 billion (£140 million) in Ghana.