Accra, Ghana — President John Dramani Mahama recently inaugurated the 3rd Ghana-EU Business Forum, casting a spotlight on the urgent need to channel investment into the nation’s burgeoning value chains. With the overarching theme of “Fostering Investment in Ghana Value Chains in high growth potential Value Chains under the EU Global Gateway Strategy,” the forum served as a pivotal platform for discussing the diversification of trade and investment beyond traditional sectors. The forum aligns seamlessly with the EU’s ambitious Global Gateway Strategy, a sweeping initiative designed to prioritize green, digital, and inclusive development partnerships on a global scale. The discussions centered on how strategic investment in Ghana value chains could unlock unprecedented opportunities.

The EU’s commitment is more than just rhetoric; it’s backed by tangible initiatives aimed at providing significant boosts to Ghana’s economic landscape. From agribusiness to pharmaceuticals and renewable energy, the forum identified critical areas ripe for development and collaboration.

Ghana stands at the cusp of an innovation revolution, as President Mahama emphasized. “Ghana is ripe for innovation. When we prioritize investments in non-traditional sectors, we harness the talent of our youth, create jobs, and build resilience against global economic shocks,” he stated, painting a picture of a nation ready to embrace new opportunities and partnerships.

The alignment between the EU’s Global Gateway Strategy and Ghana’s national vision, particularly under the ‘BIG PUSH’ initiative, promises a growth trajectory that includes and benefits all Ghanaians. This convergence aims to ensure that economic advancements translate into improved living standards and broader societal well-being.

Ms. Myriam Ferran, EU Deputy Director-General for International Partnerships, underscored the importance of focusing on specific sectors crucial for societal well-being and strategic autonomy. “We will focus on agribusiness, pharmaceutical/health, and energy—three sectors central to societal well-being. By strengthening these value chains, we enhance strategic autonomy while fostering connections between Ghana and Europe,” she noted, highlighting the mutual benefits of such collaborations.

The EU is backing its commitment with concrete actions, launching several initiatives designed to catalyze growth and development across various sectors in Ghana. These include:

• BETTER FARMING in Northern Ghana: A €19.5 million initiative co-funded by France and implemented by AFD, focusing on shea, soya, vegetables, and beekeeping value chains in Northern Ghana.
• Green, Digital, and Inclusive Private Sector Development: A €17.3M project co-funded by the Netherlands and France, fostering a greener, digitalized, and inclusive private sector, including creative industries, healthcare, and pharmaceuticals, with a focus on Northern Ghana (Tamale).
• Team Europe Initiative – Investing in Young Businesses in Africa (IYBA): Supporting early-stage businesses and young entrepreneurs, particularly women, with financial and technical resources across 9 African countries, including Ghana (€4 billion for Sub-Saharan Africa).
• AgriFI – Ghana Country Window: €2.23 million loan via EU and EDFI Management Company for Complete Farmer (agritech firm) to strengthen agribusiness value chains, establish six fulfilment centres, and expand digital platforms.

In conclusion, the Ghana-EU Business Forum has not only highlighted the critical need for strategic investment in Ghana value chains but has also paved the way for concrete actions and collaborations that promise to drive sustainable and inclusive economic growth. With initiatives like BETTER FARMING and AgriFI, the EU and Ghana are setting a precedent for international partnerships that prioritize mutual benefit and long-term prosperity. By focusing on key sectors like agribusiness, pharmaceuticals, and energy, both entities are poised to strengthen their strategic autonomy and forge lasting connections that will shape the future of Ghana’s economy.