Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has called on the United Kingdom’s private sector to lead the next wave of investment in Ghana, touting a dramatic macroeconomic turnaround and a business-friendly “reset” that has made the Cedi Africa’s top-performing currency.
Speaking at a high-profile reception on Thursday, January 29, 2026, in honor of the British International Investment (BII) Board of Directors, the Minister presented a resurgent Ghana as the undisputed gateway to the $3.4 trillion African Continental Free Trade Area (AfCFTA) market.
Ms Ofosu-Adjare highlighted that the economic “reset” agenda under President John Dramani Mahama has moved from theory to measurable impact.
The Minister cited a 5.5% GDP growth in the third quarter of 2025—the nation’s strongest showing in five years—as evidence that structural reforms are taking root.
The most striking highlight of her briefing was the drastic fall in inflation, which plummeted from a staggering 54% in December 2022 to just 5.4% by December 2025. This stabilization, she noted, was paired with the Ghana Cedi’s emergence as the best-performing currency on the continent last year, according to IMF data.
“Ghana offers what UK investors value most — stability, transparency and partnership,” Elizabeth Ofosu-Adjare said, describing the country as one of Africa’s most stable democracies with a proven record of peaceful transitions.
The trade relationship between Accra and London is currently at a high-water mark. Under the Ghana–UK Trade Partnership Agreement, total bilateral trade surged to £1.5 billion by mid-2025, a 5.7% increase year-on-year.
While UK exports to Ghana rose by over 22%, Ghana’s exports to the UK remained robust at £640 million, dominated by high-value processed goods such as cocoa paste and processed fish.
Key Bilateral Trade Figures (as of June 2025):
- Total Bilateral Trade: £1.5 Billion
- UK Exports to Ghana: £888 Million (up 22.1%)
- Ghana Exports to UK: £640 Million (Cocoa, Fruits, Fish)
- UK Market Share in Ghana: 3.9% (up 0.5 percentage points)
To further sweeten the pot for foreign capital, the Minister outlined significant fiscal reforms introduced in the 2026 National Budget. These measures are designed to lower the cost of entry and operation for industrial and extractive players:
- Mining Incentive: Complete abolition of VAT on mineral reconnaissance and prospecting to boost exploration.
- Textile Support: Extension of zero-rated VAT for locally manufactured textiles until 2028.
- Bureaucracy Busting: Introduction of digital VAT monitoring and the “Fiscal Electronic Devices” system to ensure transparency.
- Regulatory Reset: Ongoing reforms to customs administration and business licensing to slash “red tape.”
The Minister urged British International Investment (BII)—which currently supports SMEs through its Ghana Investment Support Program—to expand its footprint into high-growth sectors like pharmaceuticals, renewable energy, and automotive manufacturing.
“Ghana is open for business,” Ms. Ofosu-Adjare concluded. “Let us turn today’s conversations into joint ventures and build supply chains that reflect both Ghanaian resilience and UK innovation.”
The Minister also revealed that a major Ghana Investment Forum will be held in London later this year to consolidate these gains.
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Source: www.myjoyonline.com
