Finance Minister Dr. Muhammad Amin Adam has called on Saudi investors to contribute to raising $12 billion over the next three years to aid Ghana’s recovery to pre-COVID-19 levels.
Speaking at a high-profile meeting with the Arab Bank for Economic Development in Africa (BADEA), themed ‘Ghana: Unleashing Opportunities Through Strategic Investments’, Dr. Adam emphasized the critical role of foreign investment in the country’s post-pandemic recovery efforts.
He stated, “If you can help us raise $12 billion over the next three years to finance our recovery and finance our growth to the pre-COVID era, you will have your names written in golden ink as sustainable partners of Ghana.”
Dr. Adam highlighted the government’s commitment to social programs, noting significant increases in spending across various sectors.
Funding for the Livelihood Empowerment Against Poverty (LEAP) program has grown from GH₵49 million in 2016 to nearly GH₵500 million today, while the school feeding program now reaches 4 million children, up from 1.6 million in 2016.
Healthcare investment has also surged, with the National Health Insurance Scheme’s budget rising from GH₵1.1 billion in 2016 to a projected GH₵6.5 billion this year.
Dr. Adam stressed, “We are not just growing the economy but also increasing spending in social programs in order to bring up the vulnerable and poor sectors of our society so that nobody is left behind.”
Dr. Diad Karrar, BADEA’s Public Sector Operations Director, expressed pride in the longstanding relationship with Ghana, revealing that BADEA has approved 42 operations in Ghana totaling $511 million, and affirmed BADEA’s commitment to continuing its strong partnership with Ghana.