Ghana, Singapore Forge Sustainable Development and Carbon Market Partnership
- Ghana and Singapore expand ties with a pioneering carbon credit implementation deal, the first between Africa and Asia.
- Partnership extends into value-added agriculture, including coconut and cashew processing, alongside modern agribusiness.
- Ghana positions itself to leverage green finance, agro-processing corridors, and digital services for job creation and sustainable growth.
Ghana and Singapore are strengthening their cooperation on sustainable development and agribusiness following bilateral talks in Singapore. The two countries confirmed they will deepen collaboration across carbon markets, modern agriculture, and downstream processing of key commodities such as cocoa and cashew.
Singapore has become the first Asian country to sign a carbon credit implementation agreement with Ghana, which is the first African nation to enter such a deal. The agreement is designed to channel investment into low-carbon infrastructure while supporting Ghana's broader development goals.
Singapore's president Tharman Shanmugaratnam emphasized the opportunities in food processing and agribusiness, stating, “Other areas of interest include agribusiness, and the downstream processing of products like cashew and coconut, and we are ready and glad to pursue them together.”
Ghana's president John Mahama noted that agriculture remains central to his country's job creation strategy. “On tackling the challenge with jobs, agribusiness has space for work and lots of employment, and we have, as part of our Reset Agenda, put a lot of focus on it ,” he said.
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Mahama pointed to the Volta Economic Corridor, a government-led industrial plan, which encompasses two million hectares of riverside land for agro-processing parks and irrigated farming. He described it as “ another game changer under our Resetting Ghana and the 24-hour economy program .”
Beyond agriculture, Mahama highlighted growth in Ghana's creative and digital services sectors, particularly as a source of employment for young people. He framed the bilateral partnership as aligned with Ghana's push for regional integration under the African Continental Free Trade Area (AfCFTA).
“ We are stabilizing the economy, ” Mahama added. “ The next phase is to convert stability into sustainable, job-rich growth through green finance, downstream processing and digital opportunity.”
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