Ghana, Czech Take Leap Forward – Pledge Stronger Ties

President John Mahama has called for deeper collaboration between Ghana and the Czech Republic to spur economic growth and improve the lives of the people. 

He mentioned machinery, assembling of automotive components, advanced agro-processing technologies and the establishment of integrated supply chains as some of the sectors the two countries could partner to enhance value addition to benefit both economies.

The President said this when the Czech Republic, with its remarkable industrial heritage, technological expertise and spirit of innovation, joined hands with Ghana, which abounds in natural resources, coupled with its strategic location and dynamic young population, the two countries would benefit significantly.

Citing figures from the UN Country Database on international trade, President Mahama said that exports from the Czech Republic to Ghana reached $20.82 million in 2023, while Ghana’s exports to the Czech Republic stood at approximately $1.12 billion.

“This trade imbalance, rather than being a cause for concern, should represent a compelling opportunity for growth, diversification and mutual advancement,” he said.

President Mahama was speaking at a Ghana-Czech Business Cooperation Seminar in Accra yesterday.

Present at the event was the President of the Czech Republic, Petr Pavel, who is on a three-day state visit to the country.

Also in attendance were some private sector players, government officials, and development partners from both countries who are exploring ways to strengthen bilateral trade and investment.

Economy

President Mahama said Ghana’s GDP growth rate was projected at 4.2 per cent for 2025, adding that it was evidence of the country’s economic resilience and the sound policy direction of the government.

He said this, coupled with the country’s strategic position as a gateway to West Africa and host of the African Continental Free Trade Area (AfCFTA) Secretariat, further made Ghana an ideal partner for Czech businesses seeking access to the vast and growing African market of 1.3 billion consumers.

The President also said that Ghana was positioning itself as a manufacturing hub of West Africa, particularly in automobile assembling and agro-processing.

And with the country undergoing rapid digital transformation, including the recent repeal of the e-levy on electronic transactions, he said there was a role for Czech FinTech companies, cybersecurity experts and digital infrastructure developers in bridging Ghana’s digital divide and promoting financial inclusion.  

President Mahama further welcomed strategic partnerships with Czech companies to expand Ghana’s healthcare infrastructure, enhance medical training programmes and develop the country’s pharmaceutical manufacturing capacity.

Additionally, he said sectors such as hospitality, sanitation and Ghana’s burgeoning real estate market also presented immediate opportunities for Czech businesses to invest in. 

Commitment

President Petr Pavel emphasised his commitment to partner President Mahama to facilitate efforts at investing in sectors ranging from food processing to satellite technology.

He said Ghana’s exemplary democratic standards, vibrant civil society, robust economy, abundant natural resources and favourable agricultural conditions made the country a natural partner to the Czech Republic.

President Pavel further said that Ghana’s consistent internal stability and its role in fostering regional peace and contribution to global stability in an increasingly unpredictable world made the country conducive for investment.

“In these turbulent times, our shared values of partnership and friendship are more crucial than ever.

“I encourage you all to transform goodwill into tangible results, and be rest assured, we stand ready to support you in achieving these outcomes,” he added.

Source: graphic.com.gh