Mahama touts 24-hour economy as gateway to $3.4 trillion AfCFTA market

President John Dramani Mahama has announced that Ghana will abolish the minimum capital requirement for foreign investors as part of sweeping reforms to attract more international businesses.

The President made the disclosure on Tuesday when he addressed the opening of the 8th Africa–Singapore Business Forum in Singapore. He positioned Ghana as Africa’s most reliable entry point for investment, assuring the global business community that the country is open for business “24 hours a day.”

“Africa is investable, and Ghana is your reliable gateway to the continent,” he told participants. “The continent is the world’s most dynamic emerging market. We are 1.4 billion people today—young, fast-urbanising, digitally connected—and by 2030, Africa’s cities will host more than 700 million consumers.”

Mr. Mahama highlighted the opportunities created by the African Continental Free Trade Area (AfCFTA), which he said has lowered trade barriers and unlocked a $3.4 trillion market across the continent.

He also pointed to improvements in Ghana’s economy, citing easing inflation, a more stable cedi, and better ratings outlooks. “We are simplifying regulations through our Business Regulatory Reforms, and we are reviewing our Investment Promotion Act—including the removal of minimum capital thresholds for foreign investors—to make it easier and faster to partner, whether through joint ventures or wholly-owned investments,” he said.

The President outlined Ghana’s vision for industrial competitiveness through the Volta Economic Corridor, which he described as the country’s most ambitious integrated development project, designed to keep farms, factories, ports, and service centres operating safely around the clock.

On Africa’s financing challenges, the President, who also serves as the African Union’s Champion on Financial Institutions, criticised the current global financial architecture as inequitable. He said the continent faces an annual financing gap of $1.3 trillion, with infrastructure and climate finance accounting for the bulk of the shortfall.

To address this, he noted that African leaders are pushing to strengthen the continent’s financial systems. Key initiatives include the African Monetary Institute, the African Exchanges Linkage Project to boost liquidity across ten stock markets, and the Pan-African Payment and Settlement System to ease cross-border trade using local currencies.

“Africa holds vast renewable energy potential and is already a leader in mobile money and fintech adoption. This is a market ready for scaled solutions. Yet this opportunity must be matched with capital at the right price and with the right instruments,” Mr. Mahama said.

The President’s call was both an invitation to investors and an appeal for fairer access to global financing, underscoring Ghana’s ambition to serve as a hub for Africa’s economic transformation.