President Akufo-Addo urges stronger economic cooperation between Africa and China

President Nana Addo Dankwa Akufo-Addo has called for deeper economic collaboration between China and Africa for mutual development gains.

He said that economic cooperation between China and African countries had enormous potential for mutual prosperity, particularly in critical areas such as industrialization, agricultural modernization, and green development, which the continent required for progress and achievement of the Sustainable Development Goals (SDGs).

The President made the call at the Africa Private Sector Cooperation summit in Shenzhen, China, held on the sidelines of the Forum on China-Africa Cooperation (FOCAC), which aimed to promote economic cooperation between the two sides.

He stated that Africa was at a critical juncture, with rapid technological and economic transformations, as well as pressing environmental concerns, necessitating investments from Chinese investors to accelerate the continent’s development.

President Akufo-Addo emphasized that industrialization was a vital factor of economic growth, diversification, and job creation, citing Ghana’s “One-District-One-Factory” (1D1F) initiative as an example of how targeted industrial policies can change economies.

Ghana has constructed 321 factories under 1D1F, producing 170,000 jobs and attracting both domestic and foreign investors.

The President highlighted Ghana’s ambitious industrialization goal, which includes the development of a vehicle assembly industry, and urged Chinese investors to explore the enormous possibilities within that initiative.

He also emphasized the importance of agricultural modernization and acknowledged his administration’s “Planting for Food and Jobs” initiative, which has benefited over 1.9 million farmers and increased production of vital staples like maize and rice.

President Akufo-Addo emphasized the government’s commitment to green development, describing it as both a moral imperative and an economic opportunity.

He underlined Ghana’s ambitious goal of increasing renewable energy in its power mix to a ten percent by 2030 and invited investors to work with Ghanaian companies in agro-processing, storage, mechanization, and sustainable agricultural practices.

President Akufo-Addo urged both sides to strengthen economic cooperation through the Belt and Road Initiative, emphasizing the importance of mutual respect and long-term development.

“The time is ripe for investment in Ghana,” he suggested, adding that Chinese investment in the country would bolster the two countries’ strong ties.