President John Mahama has reiterated the importance of building closer financial and technological cooperation between Ghana and Singapore.

He noted that Ghana was positioning itself as a continental gateway under the African Continental Free Trade Area (AfCFTA) while working to restore macroeconomic stability.

A statement issued by Ghana’s Presidency said President Mahama made the call during bilateral talks with his Singaporean counterpart, President Tharman Shanmugaratnam in Singapore City, as part of his three-day state visit.

“Ghana provides a good gateway and push for Africa into the world,” President Mahama said, pointing to AfCFTA, a youthful population and an untapped market in West Africa and Africa.

He noted that inflation “is down to about 13%” and the government is “targeting a single digit by the end of the year,” alongside prioritising expenditure and ensuring fiscal discipline.

A central theme of the bilateral talks was the interoperability of payments to unlock trade across African borders.

“It is not enough to sign protocols on free movement of people and goods… we must be able to pay for the goods across borders,” Mahama said.

He added that Ghana was backing continent-wide solutions, “including the start of the PAPSS,” the Pan-African Payment and Settlement System, and wanted to draw on Singapore’s expertise.

“Singapore has a comparative advantage over Africa when it comes to payment systems, and we are looking to learn from you,” he said.

President Mahama congratulated Singapore on the city-state’s 60th anniversary of independence and noted that Ghana would mark its 70th anniversary in 2027, framing the partnership as one that could accelerate Africa–Asia commerce through practical financial connectivity as well as trade protocols.

On his part, President Tharman praised Ghana’s reform efforts; saying “Ghana must succeed for West Africa and Africa to succeed, and I see that you… are dealing with the country’s issues, including the debt challenge, admiringly”.

President Tharman referred to President Mahama’s address at the Africa Singapore Business Forum as “a strong reflection of the bilateral relations between our two countries.”

Both leaders also flagged fintech, cross-border payments and SME development as near-term priorities.

“Other areas of interest are Fintech and payment systems, cross-border payments, development of SMEs… and we are ready and glad to pursue them together,” President Tharman said.