Foreign Affairs Minister Samuel Okudzeto Ablakwa has announced that President John Dramani Mahama successfully secured US$1 billion in investment agreements during his historic state visit to Singapore.
In a post shared on social media, the minister disclosed that several prominent Singaporean companies and institutions have committed to major development initiatives in Ghana.
OLAM International is investing US$200 million, while the Shangri-La Group has committed US$300 million to build an eco-friendly, modern five-star hotel, a large shopping complex, and a cutting-edge convention centre.
Additional projects include the construction of a 10,000-bed student hostel for the University of Ghana, the expansion of Tema Port, and the revitalisation of the Tema dry dock. Plans are also underway for a new jetty dedicated to oil vessels, aimed at strengthening Ghana’s petroleum transport systems.
As part of the ongoing Ghana-Singapore Carbon Credit Agreement, both nations will advance collaborative environmental programmes. The Singapore Institute of Technology (SIT) will partner with Ghana to establish a model Accra Institute of Technology through a new Technical and Vocational Education and Training (TVET) agreement.
Moreover, the central banks of both countries will team up to develop a joint digital payment platform to facilitate increased trade between Africa and Asia. Singapore’s Land Transport Authority will also assist Ghana in setting up testing labs for road construction materials across the country.
Reports highlight that President Mahama is the first Ghanaian leader to receive an official state visit invitation from a Singaporean president—an important step forward in strengthening ties between the two nations.
