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President John Dramani Mahama has highlighted Ghana’s growing role as a strategic hub for trade and investment, particularly in its relations with China. Speaking in an interview with YouTuber Wode Maya, the president recounted his recent interactions with Chinese leadership, praising the swift progress of Ghana’s debt negotiations under the Group of 20 (G20) bilateral creditor framework.

China serves as co chairman of Ghana’s bilateral creditor committee, President Mahama explained. It gave us an opportunity to express our appreciation to President Xi and discuss key issues, including trade policies and investment opportunities. The president’s visit to China in October 2025 yielded substantial benefits for Ghana, including progress on debt restructuring and major trade agreements.

The Official Creditor Committee (OCC), established on May 12, 2023, was co chaired by China and France and composed of representatives of countries with eligible claims on Ghana. China is Ghana’s largest bilateral creditor, with approximately $1.9 billion in loans, constituting about 30 percent of the country’s official bilateral debt. Its cooperation has proven pivotal to the successful execution of Ghana’s debt restructuring under the G20 Common Framework for Debt Treatment.

President Mahama met with President Xi Jinping at the Great Hall of the People in Beijing on October 14, 2025. The meeting occurred on the sidelines of the Global Leaders’ Meeting on Women. President Xi noted that 2025 marks the 65th anniversary of the establishment of diplomatic ties between China and Ghana, emphasizing that the bilateral friendship has grown from strength to strength.

The Ministry of Finance announced on January 29, 2025, that the Memorandum of Understanding (MOU) reached with the OCC had been signed by all participating creditor countries. Ghana extended its gratitude to all members of the OCC, particularly the committee’s co chairs, China and France, for their unwavering commitment to assisting Ghana in resolving its debt issues. The signing formalized the debt treatment agreed with official creditors and marked a crucial step towards Ghana restoring long term debt sustainability.

Under the terms of the agreement, Ghana will receive debt service relief of $2.8 billion during the International Monetary Fund (IMF) supported programme period. This allows financial resources to be directed towards supporting and strengthening economic recovery. The agreement provides significant relief during the Fund supported programme period, enabling the government to redirect resources towards critical development projects.

The president disclosed that Ghana has reached consensus in principle on early harvest arrangements under an agreement on economic partnership for shared development. China expressed hope that Ghana can benefit from the zero tariff treatment for 100 percent tariff lines China gave to African countries that have diplomatic relations as early as possible. President Mahama announced at the Presidential Investment Forum in Beijing that both countries targeted the end of October 2025 to sign off on the zero tariff principle.

President Xi Jinping first announced the zero tariff policy in June 2025, describing it as a renewed commitment to shared development under the Forum on China Africa Cooperation (FOCAC) framework. The policy aims to expand trade in a manner that supports industrialization and inclusive growth across the continent. China’s decision to grant zero tariff access to Ghanaian and African products signals confidence in the partnership and opens vast new markets for Ghanaian exporters, agro processors and manufacturers.

President Mahama emphasized the importance of harmonizing Ghanaian and Chinese product standards to ensure smooth trade and access to Chinese markets. Between 2020 and 2024, China’s exports to Ghana rose by nearly 46 percent while Ghana’s exports to China increased by over 11 percent. China is Ghana’s largest bilateral trading partner, with trade volumes exceeding $11.8 billion in 2024.

The president also outlined Ghana’s plans to position itself as a gateway to Africa. With expanded and efficient ports, the country aims to attract not only Chinese but also global investors to establish manufacturing and export hubs for distribution across the continent. Our economy is stable, interest rates have come down, inflation has eased, and the currency has stabilized, President Mahama stated. This is the time to attract investors to create Ghana as a hub for trade across Africa and beyond.

Foreign Affairs Minister Samuel Okudzeto Ablakwa disclosed that President Mahama secured a 200 million RMB grant from President Xi to be used for a developmental project in Ghana, as may be determined by the Mahama Administration. President Xi’s latest grant is in addition to an earlier gift of 200 million RMB, which has been committed to the construction of a new modern market in Aflao. A total grant of 400 million RMB has been received from China in 2025.

The minister also revealed that a $150 million glass float factory will be constructed in the Western Region, marking a significant investment in Ghana’s industrial sector. China has committed to supporting President Mahama’s Big Push and 24 hour economy programmes by developing Ghana’s railway systems and constructing a second gas processing plant.

As African Union (AU) Champion for both Gender and African Financial Institutions, President Mahama successfully advocated for African women entrepreneurs to receive special consideration under President Xi’s $100 million package and capacity building drive for 50,000 women. During the Global Leaders’ Meeting on Women, President Mahama highlighted the need for greater gender equity in global governance.

President Xi stressed that China and Ghana should jointly implement the outcomes of the FOCAC Beijing Summit, explore diversified cooperation models and enhance cooperation in fields including mining, energy, infrastructure, agriculture and fishing. Such efforts will help Ghana turn its strengths in resources into growth momentum, balance resource development and environmental protection, and drive high quality development of cooperation between the two countries.

President Mahama affirmed that Ghana firmly adheres to the one China principle and looks forward to strengthening cooperation with China in trade, digital economy, infrastructure, energy, mining and people to people exchanges. Ghana firmly supports multilateralism and will work closer with China and other like minded countries to enhance coordination on multilateral platforms, act on the Global Governance Initiative, and uphold international fairness and justice.