President Mahama woos British investors, urges global debt reforms

President John Dramani Mahama has encouraged British businesses to expand investments in Ghana while calling for reforms to the international financial system to ease debt pressures on developing economies.

Speaking at a Presidential Cross-Party Parliamentary Meeting in London on Thursday, the President said Ghana remains strategically positioned to serve as a gateway to Africa because it hosts the Secretariat of the African Continental Free Trade Area (AfCFTA).

He urged British investors to take advantage of opportunities in agriculture, manufacturing, infrastructure, renewable energy, digital technology, education and healthcare.

President Mahama said Ghana was seeking partnerships that would create jobs, support technology transfer, strengthen local industries and equip young people with skills needed for a competitive global economy.

The President also used the platform to outline the growing debt challenges confronting many African countries.

He observed that high debt-servicing costs continue to constrain investments in critical sectors such as education, healthcare, infrastructure and job creation.

With the United Kingdom preparing to assume the G20 Presidency, President Mahama called for renewed international discussions on debt sustainability, affordable development financing and reforms to the global financial architecture.

He argued that developing countries should be able to honour their financial obligations without sacrificing investments needed for economic growth and development.

According to him, the UK's leadership of the G20 presents an opportunity to promote more equitable access to financing and advance solutions that support long-term economic transformation in developing countries.