Ghana in Focus: Economy Special - Why Ghana DOES NOT need investment from Pakistan and Japan

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This week's edition of Ghana in Focus takes a critical analytical eye on Foreign Direct Investment (FDI) This is centered around two significant recent events: the Pakistan Rice Roadshow in Accra and President Mahama's visit to Japan to court investment in energy, agribusiness, and manufacturing.

The Pakistan Rice Roadshow, facilitated by Ghana's Ministry of Agriculture, ostensibly aimed to foster collaboration in rice production through technology transfer and knowledge sharing around premium rice varieties like basmati.

What's particularly troubling about this partnership is the historical context. Pakistan has a documented history of discrimination against its own African population, the Siddi people, who have resided there for over 600 years yet face severe marginalization. This raises legitimate concerns about whether such a country would genuinely pursue an equitable trading relationship with Ghana or simply view it as a market to exploit.

We state this is a missed opportunity for Ghana to engage with African Americans who possess deep ancestral knowledge of rice cultivation. During the transatlantic slave trade, Africans from regions including present-day Ghana, Liberia, and Sierra Leone were specifically targeted for enslavement due to their expertise in rice cultivation.

African Americans collectively represent an economic powerhouse with a net worth of approximately $3 trillion - equivalent to the fifth richest country globally if they were an independent nation. This economic strength, presents an ideal opportunity for meaningful partnership rather than depending on countries with questionable motivations toward African development.

Similarly, President Mahama's recent visit to Japan to promote his "Big Push" initiative at the Tokyo International Conference on African Development (TICAD) follows the same problematic pattern. Japan, like many Asian and Western nations, views Africa as a "final frontier" for market expansion as their domestic growth slows and population ages. By 2040, half of Japan's population will be over 65, creating urgent pressure to secure external markets and resources.

The fundamental problem with these foreign partnerships is that profits generated in Ghana ultimately flow back to investor countries, enriching their economies rather than building sustainable wealth within Ghana. Instead of courting foreign investors, the Ghanaian government could support local entrepreneurs like Papa Kwesi Nduom, who has built a multi-sector empire including banking, media, real estate, and hospitality. Supporting Ghanaian businesses would create jobs, generate wealth that remains in the country, and provide tax revenue that can be reinvested.

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