Singapore is urging Ghanaian businesses to tap into new opportunities for investment, trade, and technology partnerships, as it looks to strengthen economic ties with Africa. The call came during a press briefing in Accra ahead of the Singapore-Africa Business Forum, scheduled for August 26–28, 2025.
Speaking at the event, Jean NG, Regional Director for West, Central, and Southern Africa at Enterprise Singapore, said Ghana remains a top choice for Singaporean investors due to its political stability, strong consumer base, and strategic position within the African Continental Free Trade Area (AfCFTA).
“Ghana offers a favourable business environment and is becoming an entry point into West Africa’s fast-evolving economy,” Jean NG noted. She added that Singapore’s approach is no longer limited to trading physical goods but includes digital services, innovation, and co-creation of global solutions.
Rahul Ghosh, Director for the Middle East and Africa at Enterprise Singapore, said via Zoom that Singaporean companies are actively seeking diversification in the face of global economic uncertainties like geopolitical tensions, supply chain disruptions, and changing tariff regimes. “Singapore’s businesses are looking for reliable partners, and Ghana ticks the right boxes,” he said.
Singapore, a small island nation of just over six million people, has built its economy on trade facilitation, digital transformation, and innovation. It now sees Africa as a frontier that mirrors its own early growth experience—rich in human capital, natural resources, and developmental potential.
Already, Ghana and Singapore enjoy growing trade relations. Brands like Frytol, produced by Singapore-based Wilmar, and Tasty Tom by Olam are examples of this cooperation. Ghanaian exports such as shea butter, black soap, cocoa-based products, and cashew are also gaining traction in Asian markets.
Jean NG said with the right quality standards, Ghana can increase exports to Singapore and beyond. “We want to help Ghanaian businesses access the entire Asia-Pacific region through Singapore’s global trade platforms,” she said.
Singapore’s ambition goes beyond trade. The country wants to co-create scalable solutions with African partners in sectors such as agritech, fintech, and digital education. Singapore is home to over 4,500 tech start-ups across 30 sectors, and is inviting Ghanaian entrepreneurs to collaborate within its world-class innovation ecosystem.
“We are not just looking for trade partners. We’re seeking co-creators. The future of trade is collaborative, and Singapore is ready to grow with Africa,” said Jean NG.
Ghosh echoed this by saying that Ghanaian entrepreneurs stand to benefit from Singapore’s advanced infrastructure, startup incubators, and global scaling expertise. “This is about building resilient, global-ready businesses,” he said.
Singapore has also expressed interest in promoting urban innovation and smart city solutions in Ghana, aligning with the government’s push for digital transformation and sustainable urban development.
However, Singaporean investors raised concerns about the ease of doing business in Ghana. Key challenges include complex regulatory frameworks, delays in obtaining permits, unclear long-term policies, and difficulty in identifying trustworthy local partners. The lack of access to reliable market data was also cited as a major obstacle to investment decisions.
Despite these challenges, Singapore remains committed to fostering stronger bilateral trade and investment links. The upcoming Singapore-Africa Business Forum will bring together officials, entrepreneurs, and stakeholders from over 50 countries to discuss how Africa and Asia can co-create innovative and sustainable development pathways.
As the world becomes more interconnected, Singapore sees in Ghana a promising partner for shared prosperity. Both countries are aligning their strengths to explore innovative solutions that can address local challenges while also contributing to global economic growth.
