Business

Japan: Mahama secures investments, funding for cocoa processing, others

President John Dramani Mahama has secured major investments and funding commitments for Ghana during his state visit to Japan, with a focus on cocoa processing, infrastructure development, and youth empowerment.

Minister of Foreign Affairs, Samuel Okudzeto Ablakwa, described the visit as a proud moment for the nation, emphasizing the President’s efforts to reset and transform Ghana’s economy.

At the Presidential Investment Forum in Yokohama, the President reaffirmed that Ghana is “open for business” and highlighted the ongoing reforms aimed at making the country more investor-friendly.

He announced steps to review the Ghana Investment Promotion Centre (GIPC) Act to address challenges facing businesses and create a conducive environment for both local and international investors.

During bilateral discussions with Japanese Prime Minister Shigeru Ishiba, the two leaders explored strategic cooperation in cocoa value addition, infrastructure development, and people-to-people exchanges.

With Ghana supplying almost 70 percent of Japan’s cocoa imports, President Mahama invited Japanese investors to participate in a Public-Private Partnership with the Cocoa Processing Company to modernize operations and deepen cocoa processing in Ghana.

The President secured $100 million for new agricultural projects and emphasized special cooperation in scientific research to enhance rice production and ensure national food security.

He also reiterated Ghana’s request for additional funding, including grants, to complete the Volivo Bridge over the Volta River, a critical transport link for yams, maize, and other produce from northern to southern markets.

Reflecting on the visit, President Mahama noted the centenary of Dr. Hideyo Noguchi’s arrival in Ghana and the upcoming 50th anniversary of the Japan Overseas Cooperation Volunteers in 2027, marking significant milestones in the enduring partnership between the two countries.

He concluded by expressing gratitude for Japan’s continued friendship and reaffirmed the commitment to initiatives that create jobs, drive value addition, and improve connectivity for Ghanaians.