President John Dramani Mahama has reaffirmed his government’s commitment to economic recovery, constitutional reforms, diaspora engagement, and African unity, describing Ghanaians abroad as the country’s “17th region” during a Town Hall Meeting with members of the Ghanaian community in London.
Addressing the gathering ahead of the UK-Ghana Investment Summit, President Mahama emphasized that Ghana’s recent achievements were the result of teamwork across government.
“When you go to a restaurant and the waiter serves you food, you compliment the waiter for the delicious meal. But it is not the waiter who cooked it; those in the kitchen deserve the credit. My ministers and senior government officials are the people helping to achieve what we are achieving in Ghana,” he said.
The President praised the collective efforts of his economic management team, including Finance Minister Dr. Cassiel Ato Forson and Bank of Ghana Governor Dr. Johnson Asiama, for steering the country through difficult economic circumstances.
Diaspora Recognized as Ghana’s 17th Region
President Mahama described the Ghanaian diaspora as a critical pillar of national development, citing record remittance inflows of more than $7.8 billion last year.
“Our diaspora is the 17th region of Ghana. We have 16 physical regions and one virtual region made up of Ghanaians abroad. Your contribution to our economy is immense and deserves recognition,” he stated.
To deepen diaspora participation in national affairs, he revealed that constitutional review proposals currently before Parliament seek to allow Ghanaians with dual citizenship to serve at parliamentary and ministerial levels.
Ghana’s Economic Recovery Gains Global Recognition
Touching on the economy, President Mahama said Ghana had successfully completed its IMF Extended Credit Facility programme after inheriting a significantly derailed arrangement.
“When we took office, every performance criterion under the programme had gone off track. We had to make difficult and sometimes painful decisions, but the sacrifices made by Ghanaians have paid off,” he said.
According to the President, Ghana’s turnaround has attracted international attention. “Ghana has become the poster boy for economic recovery. At meetings of the World Bank and IMF, other countries are being encouraged to learn from Ghana’s experience,” he noted.
He highlighted strong non-oil economic growth exceeding seven percent, describing it as evidence that agriculture, manufacturing, digital services and other productive sectors were expanding.
Championing Reparations and African Unity
President Mahama also underscored Ghana’s leadership role in Pan-African affairs and reparatory justice.
He recalled Ghana’s successful campaign at the United Nations to recognize the transatlantic slave trade as a grievous crime against humanity. “We became the champion of reparations and restorative justice. Despite skepticism, we secured the support of 123 countries for the resolution,” he said.
The President announced that Ghana would host an international conference on reparations later this month to discuss the next steps following the landmark UN resolution.
Energy Sector Stabilization and New Investments
On energy, President Mahama reported significant progress in stabilizing the sector through debt reduction and infrastructure upgrades.
He revealed that government had restored a $500 million World Bank guarantee for gas supplies from ENI’s Offshore Cape Three Points (OCTP) project after it had been depleted.
He further disclosed that agreements had been reached for more than $3.5 billion in new investments from ENI and partners in the Jubilee oil fields to increase Ghana’s oil and gas production.
The President also announced plans to replace ageing electricity transformers nationwide to improve power reliability and address growing demand.
Ghana to Refine Its Own Crude Oil
President Mahama described the forthcoming refining of Ghanaian crude at the Tema Oil Refinery as a major milestone in the country’s industrialisation drive.
“We are about to make history again. In June, we will deliver Ghanaian crude from our own oil fields to Tema Oil Refinery for processing. That is what value addition is about,” he said.
He stressed the need for Ghana to process more of its natural resources locally to create jobs and retain greater economic value.
Cocoa Processing and Industrialization
The President announced plans to increase local cocoa processing, stating that at least 50 percent of Ghana’s cocoa beans should be processed domestically once COCOBOD begins purchasing cocoa with locally-raised financing.
“We are going to use our own money to buy our cocoa, and if we do that, at least half of the beans must be processed locally before export,” he said.
He noted that cocoa products would enjoy significant market opportunities under the African Continental Free Trade Area (AfCFTA).
Governance, Accountability and Digital Reforms
President Mahama reaffirmed his administration’s commitment to accountability, revealing that approximately 36 investigations into alleged corruption and abuse of office are currently ongoing.
“If you serve in government and abuse the trust of the people, you must be held accountable. The same standards we apply to previous administrations will apply to officials serving under this government,” he stressed.
The President also highlighted the use of artificial intelligence at Ghana’s ports to improve customs valuation and reduce revenue leakages, as well as plans to upgrade the government’s financial management systems using blockchain technology.
Additionally, he announced the establishment of specialized audit courts to prosecute cases arising from Auditor-General reports.
Renewed Fight Against Illegal Mining
Concluding his remarks, President Mahama reiterated his government’s determination to tackle illegal mining through formalization, regulation and improved geological exploration.
“We will not give up the fight against illegal mining. The objective is to create a sustainable mining sector while protecting our forests and water bodies,” he said.
The President’s London visit includes participation in the UK-Ghana Investment Summit, a meeting with British Prime Minister Sir Keir Starmer, an audience with King Charles III, a lecture at Chatham House, and a keynote address at the Africa Debate forum.
Story: Patrick Asford Boadu
