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Dr Zakari Mumuni – First Deputy Governor of the Bank of Ghana.
The Bank of Ghana (BoG) has urged Asian investors to take advantage of Ghana’s easing inflation, improved debt sustainability and upgraded sovereign credit rating to explore investment opportunities in the country.
Dr Zakari Mumuni, First Deputy Governor of the BoG, made the call on Thursday on the sidelines of the IMF-World Bank Annual Meetings at the InterContinental Hotel in Bangkok, Thailand.
Ghana’s inflation rate stood at 5.2 per cent in September 2026, within the Bank’s medium-term target band of 8 ± 2 per cent, signalling sustained price stability.
Moody’s Ratings has also upgraded Ghana’s sovereign credit rating to B3 from Caa1, indicating an improved assessment of the country’s capacity to meet its financial obligations.
Dr Mumuni said the developments reflected improvements in Ghana’s macroeconomic environment and strengthened its appeal as an investment destination for Asian businesses.
“Inflation has eased considerably, debt sustainability has improved, and Ghana’s sovereign credit ratings have been upgraded,” he said.
He urged Asian investors to take advantage of the favourable economic conditions.
Dr Mumuni identified agro-processing, manufacturing, energy, transport and logistics, digital services, and financial technology as sectors offering investment opportunities.
He said investments in those sectors would support Ghana’s economic transformation and create jobs.
Delivering the keynote address at a High-Level West Africa–Asia Capital Dialogue, Dr Mumuni said Ghana could also serve as a gateway for Asian investors seeking access to other African markets under the African Continental Free Trade Area (AfCFTA).
“The opportunity is larger than financing individual projects. It is about helping build productive capacity, regional value chains, and sustainable commercial partnerships,” he said.
Dr Mumuni identified exchange-rate and financing risks, regulatory and policy uncertainty, contract enforcement challenges, infrastructure constraints, and difficulties in project exit and risk management as factors limiting Asian investment in Africa.
He said Ghana’s recent economic stabilisation had resulted from decisive and credible policy actions.
Those measures, he said, would be sustained to strengthen investor confidence.
He assured investors of the country’s commitment to policy predictability, credible institutions, well-prepared projects, and practical financing and partnership arrangements to facilitate investment.
Dr Mumuni urged African countries to improve trade facilitation, logistics, payment systems and dispute resolution mechanisms.
He also encouraged Asian investors to assess investment opportunities on their individual merits.
He proposed four priorities for attracting more investment into Ghana and other African countries, including improved risk-sharing arrangements between development finance institutions and private investors.
The other priorities included appropriate long-term financing structures, such as local-currency financing, and stronger institutional partnerships that combined Asian capital with African market knowledge.
He also advocated identifying priority sectors with genuine commercial interest to Asian investors and establishing structured engagement channels between African project sponsors and Asian investors.
Dr Mumuni urged government representatives and investors to move beyond discussions and secure investment deals.
He described this as essential to business expansion and the development of sustainable partnerships for future generations.
On the role of central banks, he said their responsibility was not to determine the commercial success of individual investment projects but to provide a stable and credible monetary and financial environment.
He, therefore, encouraged central bank governors to focus on maintaining price stability, safeguarding financial stability, supporting efficient payment systems and ensuring transparent foreign-exchange arrangements.
Source: GNA