{"id":90479,"date":"2025-08-20T04:19:12","date_gmt":"2025-08-20T04:19:12","guid":{"rendered":"https:\/\/sotnews.agency\/?p=90479"},"modified":"2025-08-20T04:19:12","modified_gmt":"2025-08-20T04:19:12","slug":"ghana-cedi-is-worlds-best-performing-currency-mahama-tells-investors-in-japan","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=90479","title":{"rendered":"Ghana cedi is world\u2019s best-performing currency \u2013 Mahama tells investors in Japan"},"content":{"rendered":"
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President John Mahama has declared that the Ghanaian cedi is the best-performing currency in the world this year, as he urged Japanese businesses to seize new investment opportunities in Ghana.<\/p>\n

Speaking at the Ghana Presidential Investment Forum on the sidelines of the 9th Tokyo International Conference on African Development (TICAD IX) on Wednesday, he said Ghana has restored macroeconomic stability and improved investor confidence.<\/p>\n

\u201cFor those of you who know the history of the Ghanaian cedi, it\u2019s been one of the most volatile currencies in Africa, and a few years back, we were said to be the worst-performing currency. <\/p>\n

\u201cI\u2019m happy to announce that this year, the Ghana cedi has been the best-performing currency in the world,\u201d he stated.<\/p>\n

He pointed to falling inflation, recent sovereign credit upgrades, and wide-ranging reforms aimed at lowering the cost of doing business as clear signs of Ghana\u2019s turnaround. <\/p>\n

\u201cInflation rose to a high of almost 23% in 2024 and it\u2019s currently down to 13.7% and we expect that by the end of the year to hit single digit. <\/p>\n

\u201cAnd as Simon said, we\u2019ve been upgraded from junk status to B minus with a stable outlook, and I\u2019m certain that in the next review, we\u2019re going to be upgraded again,\u201d he said.<\/p>\n

Mahama positioned Ghana as a stable, democratic, and business-friendly hub in West Africa, stressing its role as host of the African Continental Free Trade Area (AfCFTA). <\/p>\n

\u201cSo far, almost 50 African countries have signed agreements that allow us to export duty-free, tariff-free into each other\u2019s markets. And once you register your product and it meets all the standards, you can export duty-free and tariff-free into each other\u2019s markets,\u201d he explained.<\/p>\n

He added that Japanese investors could access a potential continental market of 1.4 billion people.<\/p>\n

The former president highlighted recent reforms to attract more foreign investment, including changes to the Ghana Investment Promotion Centre Act. <\/p>\n

\u201cSome barriers were put to foreign investment. You had to prove that you had brought in a certain amount of money to be classified as a foreign investor. In the reviewed Ghana Investment Promotion Center Act, we are removing those minimal capital investments. <\/p>\n

\u201cThis will enable any investor, however little money you have, $100,000 or $50,000, to be able to come in and set up a business in Ghana,\u201d he announced.<\/p>\n

Mahama also underscored opportunities in priority sectors such as automobile assembly, agribusiness, energy, and manufacturing. <\/p>\n

\u201cJapan has a comparative advantage when it comes to automobile manufacturing. Using the opportunity to be able to export into not only our sub-region, but also into Africa, Ghana becomes a good place for the local assembly of automotive products. <\/p>\n

\u201cAlready, we have Japanese companies that are based in Ghana and assembling for the local market and also for exporting to the sub-region,\u201d he noted.<\/p>\n

On agriculture, he outlined plans for the Volta Economic Corridor, which would use the Volta Lake to irrigate vast lands and host industrial parks for agro-processing. <\/p>\n

\u201cWe have millions of hectares of land that border that huge lake, and the water can be used to bring about 2 million hectares of land under irrigation. <\/p>\n

\u201cBut also we intend to establish industrial parks, so that we can process agri products. We can invest in textile manufacture for export into the EU markets, into the American market and other places,\u201d he said.<\/p>\n

Mahama further pointed to Ghana\u2019s energy potential, port infrastructure, and growing digital economy as additional incentives for Japanese businesses. <\/p>\n

\u201cWe also have an important area, which is the digital economy and skills. Ghana has a very young population, English-speaking, and they\u2019re very smart, and quick to upskill in any areas, robotics, AI, fintechs. The FinTech sector is one of the fastest growing in Ghana than in any other African country,\u201d he told investors.<\/p>\n

He concluded with a direct call for stronger Ghana-Japan partnerships. <\/p>\n

\u201cAfrica is the next frontier for investment. Most parts of the world are saturated when it comes to investment. Africa is opening up, growing, and is a place that Japan should be looking at. <\/p>\n

\u201cAnd so let us marry Japanese position with Ghanaian potential and create a win-win situation for ourselves,\u201d Mahama said.<\/p>\n<\/div>\n

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