The European Union Ambassador to Ghana, Rune Skinnebach, has said Ghana is currently enjoying a highly favourable economic climate that is attracting strong investor interest.
He cited the country’s political stability, deepening relations with the European Union, and ongoing economic reforms as key drivers of growing confidence among investors.
He said it was “a very good time to be in Ghana,” adding that more than one billion euros in Global Gateway investments had already been committed to the country. According to him, Ghana’s peace, stability, and positive reform trajectory were contributing to growing investor interest.
Ambassador Skinnebach made the remarks in an interview with The Ghanaian Times at the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi on Wednesday, where he delivered a keynote address on scholarship opportunities at European universities.
The Ambassador drew attention to the EU’s Global Gateway Investment Package for Africa, a €150 billion initiative launched in 2022 to support infrastructure development, financing and private sector expansion across the continent. He said Ghana stood to benefit significantly from the package, but stressed that it must deliberately position itself to attract its share.
He explained that the initiative was an “offer”, adding that Ghana needed to make itself attractive through sustained political and macroeconomic stability, a conducive business environment, reliable infrastructure, and strong legal frameworks capable of attracting European investors.
Mr Skinnebach cautioned that Ghana’s competitive advantage was not guaranteed, warning that neighbouring countries could attract European capital if they provided more favourable conditions.
He said investors would naturally shift elsewhere “if these conditions are better”.
During his engagement with students at KNUST, the Ambassador emphasised the importance of connecting with young people, whom he described as central to both Ghana’s present and future.
He said such engagements were aimed at informing students about opportunities in Europe while also providing EU officials with the chance to listen and learn from them.
On governance, Mr Skinnebach commended Ghana’s democratic credentials, describing its record of peaceful electoral transitions since the return to constitutional rule in 1992 as a major achievement. He said Ghana’s democracy was “extremely successful” in terms of elections.
However, he cautioned that economic management required continued discipline, noting that while recent gains were supported by high global gold prices and ongoing reforms, sustainability remained critical.
He raised concerns about whether there would be sufficient commitment to maintaining reforms and ensuring prudent fiscal management as elections draw closer. On regional security, the Ambassador described Ghana as “a peaceful and stable island in very unruly waters,” referencing growing instability in the Sahel and parts of West Africa. He reaffirmed the EU’s commitment to supporting Ghana in maintaining peace, security and democratic governance.
SOURCE: THE GHANAIAN TIMES
