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Ghana Is Back On Track With Investment Opportunities – Bawumia Woos Foreign Investors
Vice President Dr. Mahamudu Bawumia says Ghana’s economic opportunities for private sector investors are back on track as the country is navigating its way out of the global economic meltdown.
Dr Bawumia noted that the government is relentlessly re-focusing on economic growth and working hard to regain the trajectory Ghana was on and get back to pre-Covid growth numbers.
Speaking at the 3rd Ghana Investments and Opportunities Summit in London on Tuesday, June 6, 2023, he said, “we are living in extraordinary times. Over the past two years, inflation has surged. Its rise has been large, sudden, and global. In many parts of the world, it is now at levels unseen for generations. Meanwhile, financial systems have come under strain. For the first time in recent decades, we have seen high inflation and financial stress emerging in tandem. The world as we are all aware continues to face difficult moments caused by several factors, including climate change, disruptions in the supply chain of manufacturing goods as a result of the pandemic, among others.”
He further elaborated that “these issues as projected by the World Bank are sinking some developed and developing countries into recession. Just when the world was recovering from the ravages of Covid-19 pandemic, which came to shake the foundation of the world’s economy, causing it to a standstill through its devastating effects, resulting in the fall of Global Gross Doestic Product by over 78%, war also broke out between Russia and Ukraine. Its consequence has not only affected the two countries but also extended to other parts of the world, including Ghana.
We have been hit by mainly three major external forces. The Covid-19 pandemic hit our capacity to access fundamental goods, and the response put a burden on public finances. The war between Russia and Ukraine hit fertilizer and grain prices, among others, and increased the prices of commodities back home. And the US Federal Reserve’s move to hike interest rate severely hit our capacity to borrow and repay debt in the international market.”
The investment summit seeks to woo foreign investors to take advantage of opportunities created in the various sectors of the Ghanaian economy in a road up to a total economic recovery.
According to Dr. Bawumia, the government is balancing sound fiscal management with strategic public investments that unlock growth.
“The private sector is the engine of growth, and we are only here to support you. Our government is acting as your facilitator. We will unlock bottlenecks and prioritize limited resources to strategic sectors and projects. We think this is an exciting time to be part of Ghana’s economic growth,” he said in his keynote address.
“We are organizing this Investment and Opportunities Summit exactly in that context. First, we want to show that Ghana is back on track and that strong opportunities exist for profitable private investments in key sectors. “
“Ghana is home to one of West Africa’s most prominent and efficient ports, Tema, on the eastern serves as a feedstock to the landlocked ECOWAS countries. There is also the Takoradi port on the western coast, which serves the logistics, oil and gas, and allied industries. Takoradi is undergoing a significant transformation and requires significant investment to help decongest Tema and establish a commercial case for more vessels berthing there,” he added.
Dr Bawumia cited the Brownfield, Greenfield, and Public Private Partnerships as tangible and bankable projects championed by the private sector in Ghana and abroad.
Credit: Presidency.gov.gh
The spokesperson for Dr. Bawumia, Dennis Miracles Aboagye, has criticised the implementation of the NDC government’s No Fee Stress policy, arguing that the programme has failed to deliver on its core promise.
According to him on Starr fm, the policy, which was introduced to ensure stress free payment of fees for level 100 tertiary students, has rather turned into what he described as post stress support.
He explained that students are required to pay their fees first before applying for reimbursement, a situation he believes defeats the purpose of the policy.
He questioned claims by government officials that the policy has been successful and that citizens are happy.
In his view, such claims do not reflect the lived realities of many Ghanaians. He stressed that while some people may appear satisfied, many others continue to struggle.
Dennis Miracles Aboagye pointed to the situation of trained teachers and nurses who have been picketing for nearly six months, demanding employment.
He noted that government responses suggesting it cannot accommodate all of them contradict claims of economic stability.
He further argued that economic indicators such as a stable currency mean little to people who are unable to secure jobs or access promised support.
He observed that telling an unemployed teacher or a struggling student that the cedi has strengthened does not address their immediate challenges.
On the issue of tertiary education, he maintained that no level 100 student benefited from stress free fees in 2025, despite the policy being announced.
He added that in 2026, students have already reported to school without receiving the promised support.
He insisted that asking students to pay fees first and seek reimbursement later amounts to support after hardship, not stress free education.
According to him, this approach goes against what was promised during the policy announcement.
Dennis Miracles Aboagye questioned why a government that presents the economy as strong is unable to fulfil what he described as simple and clear promises.
He added that there is a fundamental problem with the way the economy is being managed and indicated that he is prepared to explain his position further.
By: Jacob Aggrey
Dancehall musician Shatta Wale has issued a strong public statement calling for an end to what he describes as continuous attacks on his brand, following an apology from media commentator Awal Mohammed.
In the statement, Shatta Wale acknowledged the apology but stressed that persistent criticism and what he sees as deliberate attempts to damage his image must stop.
He noted that for many years, he has spoken for the streets, the youth, and people who feel ignored by society, while also promoting Ghana on the global stage and creating jobs through his work.
He expressed concern that some media personalities, commentators, and influential figures continue to target his name unfairly.
According to him, the issue goes beyond music and touches on respect, fairness, and national maturity.
The musician warned that continued disrespect toward voices that represent ordinary people could have wider consequences.
He emphasised that the Shatta Movement remains strong and organized, and that the patience of the masses should not be taken for granted.
He added that if systems continue to fail the people, they have the ability to organize politically through numbers and truth, not violence or hate.
Shatta Wale clarified that his message was not a threat but a reminder of reality, stressing that attacking a symbol that represents millions of people can have social, cultural, and democratic effects.
He called for respect, fairness, and unity, saying the voice of the people will always rise.
The statement comes after Awal Mohammed recently described Shatta Wale fans during a public discussion as junkies.
The comments triggered backlash from fans of the musician, prompting Awal to later issue an apology.
By: Jacob Aggrey
