President John Dramani Mahama has announced a partnership between Ghana and Singapore to develop interoperable cross-border payment systems, aimed at facilitating trade and investment under the African Continental Free Trade Area (AfCFTA).
The agreement followed bilateral talks with Singapore’s President Tharman Shanmugaratnam on Thursday, August 2, 2025, during Ghana’s state visit to the Asian nation.
President Mahama stressed that seamless financial transactions are crucial for AfCFTA’s success, pledging Ghana’s support for continent-wide solutions such as the Pan-African Payment and Settlement System (PAPSS).
The two countries also reaffirmed cooperation in technology, finance, agribusiness, and green growth. Ghana plans to develop over two million hectares along the Volta Economic Corridor into agro-processing parks and irrigated lands under its Resetting Ghana Agenda and 24-Hour Economy programme.
Highlighting economic recovery, President Mahama noted inflation has dropped to 13%, with a single-digit target by year-end, emphasizing that the government aims to turn stability into sustainable, job-rich growth through green finance, agro-industrialisation, and the creative and digital economy.
Singapore also became the first Asian nation to sign an implementation agreement with Ghana on carbon markets, opening avenues for low-carbon investments.
President Mahama thanked the Government and people of Singapore for their warm reception, expressing confidence that the agreements will translate into concrete projects, jobs, and shared prosperity.
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