Ghana Secures £215 Million in Private Investment Deals During UK Visit
Ghana's President John Dramani Mahama secured private sector investment deals worth up to £215 million during a London visit aimed at attracting foreign capital. The country recently exited a $3 billion IMF bailout program after emerging from its worst economic crisis in decades, with inflation declining for 15 consecutive months before a recent uptick. The investment push signals Ghana's effort to rebuild investor confidence and achieve an investment-grade credit rating within three years.
During a UK investment event, Ghana agreed to private sector deals valued at up to £215 million as President Mahama sought to position the West African nation as an attractive investment destination following its severe economic downturn. Ghana exited its $3 billion IMF bailout program last month, which it had entered in 2022 after debt-servicing costs surged due to years of overspending and supply chain disruptions that drove inflation higher and weakened the cedi currency. Mahama used the occasion to advocate for faster debt restructuring tools, arguing that African debt is "mispriced" by global markets. The country's finance minister stated that Ghana is targeting an investment-grade credit rating within three years. While inflation has declined for 15 consecutive months, an uptick occurred in April, and despite a recent Fitch rating upgrade, Ghana's sovereign rating remains at junk status with major global agencies.
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- SemaforCenter
Ghanaian president woos investors during UK visit
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