Germany has pledged to provide Ghana with over €65 million in development cooperation this year, subject to the approval of the German Bundestag. This amount is equivalent to approximately GH¢823 million. The announcement was made by German President Frank-Walter Steinmeier during a joint press conference with Ghanaian President John Dramani Mahama in Accra.
The details of the facility will be negotiated and finalized later this month. President Steinmeier, who is on a three-day state visit to Ghana, emphasized that his country views Ghana as a crucial trading partner in Sub-Saharan Africa, one of the world’s fastest-growing regions. To strengthen economic ties, he invited representatives of major German companies to accompany him on the trip, including specialists in infrastructure development, construction, and high technology.
Ghana’s attractive business environment, with its well-educated population, English as the working language, and minimal time difference with Europe, makes it an ideal location for investment. President Steinmeier expressed his enthusiasm for meeting with startup founders to explore potential collaborations with German companies. Germany is also committed to training Ghana’s young population, particularly in the health sector, pharmaceutical industry, and digital economy.
The Ghana-Germany partnership extends beyond economics to science and research, which are central elements of their bilateral relations. President Mahama noted that discussions touched on sustainability, decent employment, gender equality, climate resilience, and peace and security. The two countries have identified opportunities for collaboration in renewable energy, green industrialization, digital transformation, and skills development, which align with global sustainability objectives.
President Mahama reaffirmed Ghana’s commitment to creating an enabling environment for German private sector investments, particularly within the framework of the African Continental Free Trade Area. He emphasized the need for multilateralism and international cooperation, urging nations to resist economic nationalism and work together to reform global institutions. The partnership between Ghana and Germany is built on mutual respect, equality, and shared benefits, with a focus on promoting peace, prosperity, and development in the region.