African business magnate Aliko Dangote has commended President John Dramani Mahama for what he described as the swift recovery of Ghana’s economy, attributing the improvement largely to renewed confidence in the country. Speaking 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, Mr Dangote said Ghana’s recent economic developments illustrate the strong link between investor confidence and the flow of capital.
According to him, investors are more inclined to commit resources when they have confidence in an economy. “This has actually shown that money follows trust,” he said. Mr Dangote acknowledged that Ghana’s economic situation had previously been challenging but said President Mahama had responded by implementing what he described as the appropriate measures rather than relying on extraordinary interventions.
“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,” he said. His remarks come as the Mahama administration continues to highlight economic stabilisation and renewed investor confidence as central pillars of its Resetting Ghana Agenda.
President Mahama has also cited declining inflation, a stronger cedi, improved fiscal performance and increased foreign-exchange reserves as signs of Ghana’s economic recovery.
