Ghana has assured Japanese businesses of a strengthened and secure investment environment under the leadership of President John Mahama, as the country pivots its foreign policy to prioritise economic diplomacy.
Ghana’s Minister for Foreign Affairs, Mr Samuel Okudzeto Ablakwa, reaffirmed government’s commitment to creating the right conditions for international investors to thrive.
Speaking at the Presidential Investment Forum held on the sidelines of the Ninth Tokyo International Conference on African Development (TICAD) in Yokohama, Mr Ablakwa highlighted the progress achieved since President Mahama assumed office in January this year.
The three-day TICAD conference, which brought together African leaders, development partners, and investors, focused on strengthening partnerships to accelerate Africa’s economic transformation, with Ghana positioning itself as a prime destination for Japanese investment in West Africa.
He recalled that during his inauguration on January 7, 2025, President Mahama declared that Ghana was “open for business once again,” a statement which, he said, had since been backed by deliberate reforms aimed at restoring macroeconomic stability, rebuilding investor confidence, and strengthening diplomatic ties with strategic partners such as Japan.
He emphasised that Ghana’s economy, once under severe strain, had witnessed a remarkable turnaround under the new administration.
“Our currency is now regarded as one of the best-performing in the world. Macroeconomic stability has been restored, and the sovereign rating agencies have all begun to upgrade Ghana,” the Minister said.
“We are no longer in junk status, and we are no longer a bankrupt country, thanks to the visionary leadership of His Excellency John Dramani Mahama,” Mr Ablakwa told delegates comprising ministers of state, ambassadors, senior government officials, business leaders, and development partners.
Underscoring the centrality of investment diplomacy in Ghana’s foreign policy direction, the Foreign Affairs Minister disclosed that President Mahama had directed his ministry to prioritise economic fortunes in its dealings abroad.
As part of this vision, the government is set to introduce an unprecedented performance-based framework for Ghana’s diplomatic corps.
“On the 1st of September, the President will be launching a novel KPI, key performance indicators, for all ambassadors and diplomats from the Republic of Ghana. This has never happened in our history. And when you peruse that document, you will see that economic diplomacy is at the heart of it,” Mr Ablakwa revealed.
He explained that the new system would ensure that Ghana’s diplomacy made tangible contributions to job creation, investment promotion, and the improvement of livelihoods at home.
“Our diplomacy must lead to the improvement in the lives of the people. Diplomacy must promote investment and create a safe haven for all those who invest in our country,” he said.
Mr Ablakwa commended Japanese businesses operating in Ghana, noting that their contracts and investments had been fully respected since the new administration took office.
He mentioned Toyota Chusho, Honda, and Suzuki as examples of Japanese companies that had expanded operations in Ghana, creating jobs and boosting industrial activity.
“No Japanese business, no contractual arrangement that was inherited has been adversely affected. We are delighted to see the progress of Japanese car manufacturers and other companies thriving under this positive business climate,” he said.
He further pointed to engagements with the Japan External Trade Organisation (JETRO), which confirmed that Japanese investors were experiencing Ghana’s renewed commitment to business-friendly policies.
The Minister assured prospective Japanese investors of comprehensive government support, from Ghana’s diplomatic mission in Tokyo through to key institutions such as the Ghana Investment Promotion Centre (GIPC) and the Ministry of Trade, Industry and Agribusiness.
“We are determined to ensure that your investment is not only protected, but that you also have good returns. Under President Mahama, you can be assured that your choice in Ghana will be the best decision you ever made,” he pledged.
Acknowledging the longstanding bilateral relations between Ghana and Japan, Mr Ablakwa paid tribute to the historical contributions of figures such as Dr Hideyo Noguchi, who left a lasting legacy in Ghana.
He also applauded Japan’s continuous support for Ghana’s socio-economic transformation, citing the construction of the Volvo Bridge Project, the Tamale Electricity Expansion Project, and the Kumasi Ring Road Project as visible examples of Japan’s contributions.
Japanese volunteer programmes, he noted, also remained instrumental in advancing education, healthcare, and community development across Ghana.
The Minister expressed optimism that the investment forum would further deepen Ghana-Japan cooperation.
“We have no doubt that we are going to double our trade and investment portfolios. We are going to have more businesses from Japan investing in Ghana, and also Ghanaian companies exploring opportunities in Japan,” he said.
He thanked the Japanese government for maintaining a fair and open trading relationship with Ghana, noting that Japan had refrained from imposing tariffs and had kept its market accessible to Ghanaian businesses.
He reiterated that the forum marked the beginning of a new era of economic partnership between Ghana and Japan.
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