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May 22, 2026
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‘Stability, credibility and predictability are Ghana’s competitive advantage’ – Ambassador Victor Smith
Money
Policy
Opportunity
Growth
Key Points
- Ghana's Ambassador to the US, Victor Emmanuel Smith, highlighted the country's stability, credibility, and predictability as key advantages for attracting global investment and deepening economic cooperation with the United States.
- Speaking at an Economic Dialogue in Atlanta, Ambassador Smith engaged business leaders on strengthening economic ties, emphasizing Ghana's commitment to sustainable partnerships for industrial transformation and inclusive economic growth.
- Ghana aims to become West Africa's preferred aviation and transportation hub, aligning with Atlanta's world-class aviation and logistics ecosystem.
- The role of the Ghanaian diaspora was underscored, with Ambassador Smith noting their unique ability to bridge investment, innovation, and cultural cooperation between Ghana and the US.
- A $40 million investment initiative was announced by the African Diaspora Venture Fund, targeting sectors like fintech, agriculture, and workforce development in Africa, starting with Ghana, while Cen Power Generation Company also outlined opportunities in Ghana's energy sector.
Why This Matters
This article highlights Ghana's proactive efforts to attract foreign direct investment and strengthen economic ties with the United States, a crucial partner. The announced $40 million investment, alongside strategic partnerships in key sectors like aviation, energy, and technology, signifies potential for job creation, industrial transformation, and overall economic growth for the nation. It also emphasizes the strategic importance of leveraging the Ghanaian diaspora for national development.
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- Dr. Boako, a Deputy Ranking Member on Parliament’s Finance Committee, questioned GoldBod's reported GH¢907 million profit, stating an outstanding overdraft would reflect a loss.
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- This dispute is set against a broader political and economic debate concerning GoldBod’s financial performance and the accounting treatment of GH¢22 billion losses from the Domestic Gold Purchase Programme (DGPP).
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GoldBod losses remain key on Minority agenda as Parliament reconvenes – Afenyo-Markin
- The NPP Minority Leader, Alexander Afenyo-Markin, reaffirmed the caucus's commitment to investigate a reported US$1.7 billion loss linked to the Bank of Ghana’s Domestic Gold Purchase Programme and the Ghana Gold Board (GoldBod).
- This commitment was reiterated after Afenyo-Markin met with NPP flagbearer Dr Mahamudu Bawumia in Accra.
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Why celebrate $2.62bn FDI while losing $1.7bn under the Domestic Gold Programme? IERPP asks
- The Institute of Economic Research and Public Policy (IERPP) welcomes Ghana's US$2.62 billion Foreign Direct Investment (FDI) as a sign of investor confidence.
- However, IERPP tempers this optimism with concern over an estimated GH¢22 billion (US$1.7 billion) loss from the Domestic Gold Purchase Program (DGPP).
- The DGPP loss is significant, equating to about 65 cents for every US$1 of FDI attracted, highlighting a major resource management issue.
- IERPP emphasizes that while FDI is crucial, it cannot substitute for prudent management and protection of existing public resources.
- The Institute calls for greater transparency, a clear breakdown of DGPP losses, and intense scrutiny from accountability institutions, Parliament, and civil society.