President John Mahama has secured the construction of a 10,000-capacity students hostel for the University of Ghana as part of $1 billion worth of investment deals reached during his state visit to Singapore.
Minister of Foreign Affairs and Regional Integration Samuel Okudzeto Ablakwa, who broke the news in a post on X, described the trip as historic, noting it was the first time a Ghanaian president had been invited on a state visit to Singapore.
The University of Ghana hostel project is one of several agreements under Mahama’s Reset Agenda. Other commitments include:
- OLAM pledging $200 million for new projects, including a 43,000-metric ton pasta processing plant and feed mills for poultry and aquaculture, expected to create 4,000 jobs.
- Shangri-La committing $300 million to build a green ultra-modern five-star hotel, a shopping mall and a convention center to position Ghana as a West African conference destination.
- Enhanced security and scanners at Kotoka International Airport in line with global standards to check smuggling and drug trafficking.
- Expansion of Tema Port and revival of the Tema dry dock.
- Construction of a new jetty for oil ships.
- Partnership with Singapore’s Land Transport Authority to establish testing laboratories across Ghana for road construction materials.
- Collaboration between the central banks of Ghana and Singapore to launch a common payment platform to boost trade between Africa and Asia.
- A TVET arrangement with the Singapore Institute of Technology to establish a model Accra Institute of Technology.
- Execution of projects under a bilateral carbon credit agreement.
Beyond the investments, Ghana and Singapore signed an MoU for regular high-level political consultations, agreed to finalize negotiations on a Bilateral Investment Treaty, and secured support for ORAL through capacity-building cooperation for forensic investigators.
As part of the public service reset initiative, 18 chief directors of Ghana’s ministries will travel to Singapore in September for leadership training and knowledge-sharing. Ghana has also announced plans to establish a consulate in Singapore by 2026, while Singapore has already opened Enterprise Singapore in Accra to oversee its West African portfolio.
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Story by Michelle Lartey|univers.ug.edu.gh
