Ghanaian Entrepreneurs Advised to Use Singapore to Access Asian Markets

Singapore is strengthening ties with Ghana and encouraging Ghanaian entrepreneurs to view the Southeast Asian nation not just as a trade partner but as a strategic launchpad into the vast Asian market. This was the central message delivered at a press briefing in Accra ahead of the 2025 Singapore-Africa Business Forum, scheduled for August 26–28 in Singapore.

Jean NG, Regional Director for West, Central, and Southern Africa at Enterprise Singapore, emphasized that the city-state is keen to work more closely with Ghanaian businesses across sectors such as agribusiness, technology, manufacturing, and services. She noted that Ghana’s relative political stability, open economy, and role within the African Continental Free Trade Area (AfCFTA) position it as a critical partner for Singapore’s long-term engagement in Africa.

“Singapore views Ghana as a natural entry point into West Africa,” she said. “With our shared emphasis on innovation and growth, there is tremendous potential for partnership in areas like digital services, trade facilitation, and industrial transformation.”

Singaporean businesses are increasingly looking outward as global uncertainty reshapes trade priorities. Supply chain disruptions, geopolitical tensions, and evolving global tariffs have pushed firms to explore emerging markets for diversification and long-term resilience. Ghana’s youthful population and rapidly developing infrastructure offer an attractive destination for this renewed focus.

Rahul Ghosh, Director for the Middle East and Africa at Enterprise Singapore, echoed these sentiments via video call. “Ghana ticks many of the right boxes: a dynamic consumer base, an improving business climate, and a government that welcomes foreign investment,” he said. “It’s a market with long-term potential.”

Singapore’s development model—grounded in technological innovation, efficient trade systems, and a global outlook—offers lessons and collaboration opportunities for emerging economies. Ghana, with its rich natural resources and demographic dividend, reflects a similar promise, Ghosh explained. The goal now is to connect both countries more strategically through business, investment, and co-innovation.

Singapore is not just targeting trade in traditional goods. Its approach is focused on building joint ventures and co-developing solutions in high-growth sectors such as agritech, fintech, healthtech, logistics, and clean energy. The country is home to more than 4,500 tech startups across 30 industries and sees value in linking its innovation ecosystem with emerging markets like Ghana.

“Trade today goes beyond the exchange of products,” Jean NG remarked. “It’s about developing digital services, sharing ideas, building capacity, and setting new global standards. We are looking for co-creators, not just customers.”

Current Ghana-Singapore business ties are already bearing fruit. Popular products like Frytol cooking oil and Tasty Tom tomato mix, produced by Singapore-based firms Wilmar and Olam respectively, are widely consumed in Ghana. Meanwhile, Ghanaian exports such as shea butter, black soap, cocoa-based products, and processed cashew are gaining traction in Singapore’s health, wellness, and food markets.

Jean NG believes there is considerable room for growth—especially if Ghanaian producers meet quality standards and streamline their export strategies. “With better trade facilitation, Ghana can significantly scale its exports to Singapore and the wider Asian region,” she said.

Despite the optimism, challenges remain. Singaporean firms have cited regulatory hurdles, fragmented approval systems, and difficulty identifying reliable local partners as barriers to doing business in Ghana. Ghosh emphasized the need for clearer policy frameworks, unified business registration processes, and improved access to market data.

Still, both countries are confident that these issues can be addressed through continued dialogue and institutional collaboration. Singapore is eager to support Ghanaian entrepreneurs by offering access to global innovation networks, business accelerators, smart city technologies, and export-ready infrastructure.

The Singapore-Africa Business Forum 2025 is expected to serve as a catalyst for this new chapter of engagement, bringing together private sector leaders, government officials, and entrepreneurs from across Africa and Asia.

In an increasingly interconnected world, Singapore and Ghana are shaping a shared future—one defined by innovation, opportunity, and inclusive economic growth.