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Ghana Reinforces Ties With Japan…Sign More Cooperation Agreements 

The President of the Republic, Nana Addo Dankwa Akufo-Addo, says the visit of the Japanese Prime Minister, Fumio Kishida to Ghana has taken the already robust bilateral, political and economic relations as well as the people-to-people exchanges between the two countries a notch further.
This visit, which is the first of a Japanese Prime Minister since Junichiro Koizumi visited Ghana some Seventeen (17) years ago in 2006, when President Akufo-Addo was Foreign Minister, saw Ghana and Japan exchange notes for the Enhancement of Rice Seeds Production Capacity in Ghana and on the Human Resource Development Scholarship to support the training of young administrative officials in Japan.
Additionally, the sturdy development of Phase II of the project for the improvement of the Tema Motorway Roundabout, that serves as the junction of major Highways including the Abidjan-Lagos corridor which is critical for the development of the West African sub-region has also been re-affirmed.
Japan will also offer USD 500 million of support over the next three years to augment Ghana’s efforts through the Accra Initiative and other endeavours to secure peace and stability, of the Sahel region and the coastal states of the Gulf of Guinea.
Speaking after a very productive bilateral session, President Akufo-Addo, said, birthed as far back as 1927 when Dr. Hideyo Noguchi arrived on the shores of the then Gold Coast to conduct research on Yellow Fever, relations between the two countires have witnessed countless successful strategic partnerships and co-operation with the street in front of the Japan Embassy in Accra, “named the Dr. Hideyo Noguchi Street, upon my instructions, in addition to the Noguchi Memorial Institute for Medical Research located at the University of Ghana, Legon, Accra, in memory of that illustrious son of Japan and in appreciation of the continued generosity of the good people of Japan to Ghana.”
Throughout this period, he continued, Ghana has been a “great admirer of the Japanese model of Development and of Japan’s technological advancement and I informed the Prime Minister, we were benefitting from his country’s wealth of knowledge and experience to boost our own development.”
Thus, this evening, he added, “we have discussed at length how to boost further our political and economic relations, cultural and people to people exchanges as well as our cooperation at the multi-lateral level.”
Prime Minister Fumio Kishida arrived in Ghana on Monday, 1St May, 2023 on the second leg of an African tour which begun in Egypt and will see him visit Kenya and Mozambique.
The two leaders, whose countries occupy non-permanent member positions at the United Nation’s Security Council agreed to pursue key reforms to “reflect the changing circumstances of the world from 1945, when the composition and structure of the Security Council was established by the victorious powers of the second world war.”
Consistent with Ghana’s position on Russia’s war, President Akufo-Addo maintained that, “as the first country in sub-Saharan Africa to gain our independence from the shackles of colonialism and imperialism, Ghana became one of the five initiators of the historic non-aligned movement. Historically, we have always been against great power domination of the affairs of the world. It is a position we will continue to hold and that is why during the voting in the United Nation’s General Assembly, Ghana voted in favour of the motion condemning the Russian invasion of Ukraine. Great powers, trampling on new and small nations and violating international law, are not things we welcome within our modest means, we will register our disapproval of them.”
Describing Ghana as a Ghana is a major economic hub of West Africa and an important partner with whom Japan shares fundamental values and principles such as democracy and rule of law, Premier Fumio Kushida, explained that, “the purpose of this visit to Ghana is to directly listen to the voices of Africa and to reflect such feedback in the discussions to take place at the G7 Hiroshima Summit.”
He said, Japan “has confirmed the importance of business and investment promotion between Ghana, the lynchpin of the West African economy, and Japan. Toyota, Nissan and Suzuki are operating assembly plants producing vehicles and these are great examples of our time. I also understand that Honda plans to set up an assembly plant by the end of this year. Another move which I hope will accelerate the business relationship between our two countries.”      

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 GEXIM deepens relations with US EXIM Bank

A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.   

The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.

The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.

Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).  

Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.

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The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.

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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama

President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.

Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.

He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.

“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.

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President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.

He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.

He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.

“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.

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Source: Myjoyonline.com

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