Ghana has many opportunities for Korean businesses to invest in various sectors, according to former President John Dramani Mahama. He was speaking at the Korean-Africa Business Summit as the keynote speaker.
He highlighted the potential for collaboration in providing digital solutions for agriculture and agri-business, which are areas where Africa has a comparative advantage. He said that technology can help improve the production of crops and animals.
He also mentioned that Ghana is rich in natural resources, such as gold, bauxite, manganese, oil, and lithium. He suggested that Ghana and Korea can work together to use Ghanaian lithium to produce batteries for electric vehicles, which is a global trend. He said that Korea is a leader in shipbuilding and Ghana has a shipyard that can be upgraded and managed efficiently.
He proposed a partnership between the Korean shipbuilding industry and the Ghana Ports and Habours Authority (GPHA) to make the shipyard the sole provider of services to merchant vessels and oil vessels from Mauritania to Namibia.
He further said that there is a huge demand for energy in Africa to drive its economic growth, and Korea has the technology and expertise in both traditional and renewable energy sources. He said that this is an ideal case for cooperation between the two countries.