Mahama announces talks with Rosatom to establish Ghana’s first nuclear power station

President John Dramani Mahama has disclosed that Ghana has begun discussions with Russia’s state-owned nuclear energy corporation, Rosatom, towards establishing the country’s first nuclear power station.

He made the announcement on Thursday, October 29, while addressing the Third Russia–Africa Summit in Moscow, where he also advocated the use of local currencies and digital payment platforms to facilitate trade settlements between African countries and Russia.

Speaking to African leaders and Russian officials at the summit, chaired by Russian President Vladimir Putin, Mr Mahama said Ghana was pursuing a diversified energy strategy that combines renewable energy with preparations for the peaceful use of nuclear power.

"We have initiated discussions with Rosatom on the establishment of Ghana's first nuclear power station," he said.

The President recalled the longstanding nuclear cooperation between the 2 countries, noting that the Soviet Union supplied Ghana with a two-megawatt nuclear reactor in 1964 for research purposes.

Beyond energy cooperation, Mr Mahama called on Russian businesses to partner Ghanaian companies in areas including agro-processing, fertiliser production, pharmaceuticals and transport infrastructure.

Mahama pushes local currency settlements

The President also urged African and Russian financial institutions to develop practical mechanisms that would allow legitimate trade transactions to be settled using local currencies and digital payment systems.

"To create a more seamless environment for trade and investment, we must find appropriate mechanisms for making legitimate trade settlements that include the use of our local currencies and other digital payment systems," he said.

He identified central banks, commercial banks and financial technology companies as key players in efforts to make cross-border transactions easier and strengthen commercial relations.

Mr Mahama acknowledged the potential for expanding trade between Africa and Russia but stressed the need to address practical obstacles preventing businesses from fully benefiting from the relationship.

He said Ghana offered investment opportunities in cocoa, cashew, horticulture and mineral processing, adding that the country’s role as host of the African Continental Free Trade Area Secretariat positioned it to support businesses seeking access to markets across the continent.

President recalls personal ties with Russia

Mr Mahama drew on his personal experience in Russia to highlight the longstanding relationship between the 2 countries. He studied in Moscow on a full scholarship from 1986 to 1988 and described himself as "a symbol of the friendship of the Russian people".

He expressed gratitude to President Putin and the Russian people for their historical support for Africa during the continent’s struggles against colonialism and apartheid.

Ghana will mark 70 years of independence next year, having become the first sub-Saharan African country to gain independence from colonial rule. Mr Mahama used the occasion to acknowledge Russia’s contribution to Africa’s decolonisation efforts.

Mahama calls for peaceful resolution of conflicts

On international security, the President advocated peaceful settlements to conflicts around the world and welcomed Russia’s willingness to resume trilateral talks concerning the war in Ukraine.

He also called for stronger international cooperation to combat terrorism, particularly in territories occupied by the Alliance of Sahelian States.

As the summit entered its second day, Mr Mahama urged participants to translate the discussions into concrete outcomes that would improve the lives of ordinary people.

"The most lasting expression of our friendship will be the progress our people can see in their communities and their lives," he said.