His reactions come following the $3 billion support received from the International Monetary Fund (IMF) which he believes will contribute to the stabilization of the Ghanaian economy.
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Ghana is the best destination for investment and number one for business — Bawumia
Despite the economic challenges, Vice President Dr. Mahamudu Bawumia has emphasised that Ghana remains the most favourable investment destination in the West African Sub-region.
Vice President Mahamudu Bawumia
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Dr. Bawumia expressed confidence that investors who choose to invest in Ghana will not regret their decision.
Addressing participants at the Ghana Investment Summit in the UK, he outlined the strengths of Ghana as an investment hub.
He cited the country's stable political environment, adherence to the rule of law, educated and literate population, and a dynamic youthful demographic as key factors that make Ghana an attractive destination for investment.
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He said "We have a stable political environment, rule of law, an educated population, and a dynamic youthful population which is very literate. In the area of investments, it is one of West Africa's investments bright spots and the number one destination for doing business over the last decade."
Meanwhile, the flagbearer of the National Democratic Congress (NDC) for the 2024 general elections, John Mahama has said Ghana is not only one of the best places for doing business in West Africa.
He believes foreign investors in West Africa do not prefer Ghana as a regional base due to the economic instability witnessed under the current government.
According to him, the New Patriotic Party (NPP) government led by President Nana Addo Dankwa Akufo-Addo collapsed banks due to personal vendetta.
He mentioned the increment in electricity and water tariffs, high inflation, and depreciation of the local currency as some factors that were hindering the growth of businesses adding that multinational companies were leaving the country, and others who have stayed have moved their headquarters to neighbouring countries.
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Speaking at the Special Guest of Honour at the 7th Ghana CEOs summit, Mahama said the government's agreement with the Fund to increase electricity and water tariff quarterly brings an additional burden adding that Ghana has lost pride as the best place to do business in West Africa.
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