President John Mahama has admonished the global community to treat Africa fairly in the fight against huge financial gaps in their respective economies.

While acknowledging the impact of financial support and aid provided to African countries over the years, he made a direct yet diplomatic appeal to stakeholders to invest in the continent’s economies and provide access to capital at fair rates, rather than relying solely on charity.

He made these remarks during the opening of the 8th Africa–Singapore Business Forum in Singapore on Tuesday, August 26, citing the need for justice instead of the old and conventional system where Africa is always considered for charity.

President Mahama added that Africa is working to fill the financial gaps in its system, including the climate change finance gap.

“As the African Union Champion on Financial Institutions, I must be candid: the current global financial architecture remains inequitable for low- and middle-income countries. Africa faces an annual financing gap estimated at $1.3 trillion. Infrastructure needs alone run between $181 and $221 billion per year through 2030, and the climate finance gap is about $213 billion annually. We are taking steps to build an African financial system that works for Africa… Yet this opportunity must be matched with capital at the right price and with the right instruments,” he mentioned.

President Mahama also revealed that while Africa is currently working around the existing financial gaps, work is underway to “build an African financial system that works for Africa; accelerate the African Monetary Institute as a precursor to the African Central Bank, and link ten major stock exchanges through the African Exchanges Linkage Project to enhance liquidity.”

"We are also scaling the Pan-African Payment and Settlement System to enable businesses to settle cross-border trade in local currencies,” he further remarked.

He added that Africa holds vast renewable energy potential and is already a global 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.”

With the current constraints on financial access, weak supply chains, and countries becoming more protective of their own economies, President Mahama insisted that cooperation among developing countries, particularly South-South cooperation with nations such as Singapore, is non-negotiable.

“In a world of tightened financial conditions, fragile supply chains, and rising protectionism, South–South collaboration is not optional; it is essential. Africa and Singapore must be champions of open markets, trusted rules, and practical partnerships that deliver jobs, technology transfer, and shared prosperity,” he said.

He pointed to trade growth as evidence of stronger ties. “Africa–Singapore trade rose by about 50 per cent between 2020 and 2024 to nearly US$14 billion, with West Africa accounting for more than half of that. Ghana–Singapore trade has also grown, reaching over US$215 million in 2024.”

In a recommendatory remark, President Mahama presented Ghana as the "most stable and reliable gateway" to Africa, describing it as investable, bolstered by its vibrant youth population.

“Our message is simple: Africa is investable, and Ghana is your reliable gateway to the continent. 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. The African Continental Free Trade Area is the largest new free trade area in the world by number of countries, creating a $3.4 trillion market and lowering barriers across supply chains,” he recommended.

As proof of Ghana being a stable and attractive choice for investors, he highlighted the country’s current macroeconomic indicators, such as reduced inflation, a stabilising cedi, and the removal of minimum capital thresholds for foreign investors. He stressed that Ghana’s economy is open for business, citing the effectiveness of the 24-Hour Economy.

“Our economic strategy is anchored in productivity, exports, and jobs. We call it the 24-Hour Economy—for a reason. Ghana is OPEN FOR BUSINESS 24 hours a day. We are aligning infrastructure, incentives, and skills so factories, farms, ports, and service centres can operate round-the-clock shifts safely and competitively. At the core of this is the Volta Economic Corridor—our most ambitious integrated development to date.”

He continued by stating that Ghana is offering a stable and profitable environment for investment, while requesting collaboration, technology, and expertise from Singapore to help both sides grow.

“Our proposition is straightforward: a stable, reform-minded country, connected to the AfCFTA, designed for scale. A 24-Hour Economy that matches your need for speed, reliability, and standards. A pipeline of investable projects in agribusiness, logistics, manufacturing, energy, digital, and tourism. A partner that values integrity, predictability, and long-term relationships. In return, Ghana and Africa ask for what Singapore does best: practical collaboration, technology transfer, disciplined project execution, blended finance, and a shared commitment to skills development.”

President Mahama closed with an invitation to investors: “On day three of this State Visit, as part of the Africa Forum, we will host a Presidential Business Roundtable. Join us. Bring your teams. Put Ghana’s readiness to the test. We will showcase bankable projects, provide direct access to our regulators, outline incentives for strategic investors, and offer a one-stop investor concierge so decisions can be made quickly and confidently.”

Meanwhile, the President is currently on a working visit to Asia. His first stop was in Japan, where he attended the three-day 9th Tokyo International Conference on African Development (TICAD), held from August 20–22, 2025, in Yokohama. The conference was co-hosted by the Government of Japan, the United Nations, UNDP, the World Bank, and the African Union Commission.

During this visit, the Ghanaian and Japanese governments signed a groundbreaking space agreement to leverage space science for Ghana’s development.

Following Ghana's recent engagement with Japan, the Volivo to Dorfor Adidome Bridge across the Volta River has been revived, the Kumasi inner-city ring road project is set to commence, and a new agreement with Toyota has been reached to expand its operations in Ghana and make the country its West African hub.

Additionally, Ghana and Japan have entered into a strategic industrialization partnership, with Japan considering a dedicated investment of US$1.5 billion in Africa in the short term.