Ghana Scales Economic Ambitions with $40m Diaspora Fund, Dubai Trade Surge, and Outsourcing Drive

Ghana is making significant strides in its economic transformation agenda through a series of strategic international partnerships and domestic policy pushes aimed at industrial growth, job creation, and foreign investment. Key highlights include a $40 million commitment from the African Diaspora Venture Fund, a surge in non-oil trade with Dubai reaching $10.7 billion, and a national drive to secure 100,000 jobs in the global outsourcing market. These initiatives, spanning from fintech and agriculture to manufacturing and digital services, underscore the country's efforts to leverage its political stability as a primary gateway for investment in West Africa.\n\nThe relationship between Ghana and the United Arab Emirates (UAE) is particularly robust, with non-oil trade growing 60.1% year-on-year to reach approximately $10.78 billion (AED 39.6 billion) in 2025. This growth is being cemented through a 19-company trade mission led by the Dubai Chamber of Commerce and the initiation of Comprehensive Economic Partnership Agreement (CEPA) negotiations. Simultaneously, Member of Parliament for Gomoa Central, Kwame Asare Obeng (A Plus), is courting Chinese investors for the Gomoa Special Economic Zone, focusing on infrastructure, automotive markets, and training centers to bolster local industrial capacity.\n\nOn the investment front, the African Diaspora Venture Fund has pledged $40 million to transform traditional remittances into structured equity for businesses in fintech, agriculture, and workforce development. This move aligns with the government's focus on the digital economy, specifically the Business Process Outsourcing (BPO) and Global Business Services (GBS) sectors. Industry leaders, supported by the Tony Blair Institute and the Business Outsourcing Services Association Ghana (BOSAG), are targeting the creation of 100,000 jobs to capture a larger share of the $1.5 trillion global outsourcing market, aided by the government’s One Million Coders Programme.\n\nTo sustain this growth and manage public debt, economic experts are calling for structural reforms. Banking consultant Dr. Richmond Atuahene has advocated for the privatization or private-sector management of non-strategic state-owned enterprises (SOEs) like GIHOC Distilleries and State Transport. As Ghana transitions to the IMF’s Policy Coordination Instrument (PCI) framework, such reforms are seen as essential for achieving investment-grade credit ratings and lowering borrowing costs. These collective efforts—from diaspora funding to trade pacts and fiscal discipline—position Ghana to solidify its status as a competitive industrial and service hub on the continent.