African business magnate Aliko Dangote has commended President John Dramani Mahama for what he described as a rapid turnaround of Ghana’s economy, attributing the improvement largely to the restoration of investor confidence.
According to Mr Dangote, recent economic developments in Ghana demonstrate the strong relationship between trust and investment, noting that investors are more willing to commit capital when confidence in an economy is restored.
“This has actually shown that money follows trust,” he said.
Mr Dangote made the remarks at the “Accra Reset: Full Circle – Making Global Development Work Again” event in New York, held on the sidelines of the 81st United Nations General Assembly.
He acknowledged that Ghana had previously faced significant economic challenges but credited President Mahama’s administration with taking what he described as the appropriate measures to address them.
“President Mahama turned around the economy of Ghana in a very short time. It wasn’t a very good case, but when he came in, he didn’t do any magic, but he did the right things,” Mr Dangote said.
His comments come as the Mahama administration continues to highlight economic stabilisation and renewed investor confidence as key outcomes of its Resetting Ghana Agenda.
President Mahama has also pointed to indicators including declining inflation, an appreciation of the cedi, improved fiscal performance and stronger foreign exchange reserves as signs of Ghana’s economic recovery.
Mr Dangote’s remarks underscore the importance of investor confidence in attracting capital and supporting economic growth, particularly as Ghana seeks to strengthen its position as an investment destination.
