African business magnate Aliko Dangote has praised President John Dramani Mahama for what he described as a rapid turnaround of Ghana’s economy, attributing the improvement to renewed confidence in the country.
Mr Dangote said Ghana’s experience under President Mahama demonstrates the strong relationship between trust and investment, arguing that investors are more willing to commit resources when confidence is restored in an economy.
“This has actually shown that money follows trust,” he said.
He made the remarks at the “Accra Reset: Full Circle – Making Global Development Work Again” event in New York on Monday, September 21, 2026, on the sidelines of the 81st United Nations General Assembly.
Mr Dangote said Ghana’s economic situation had previously been difficult but credited President Mahama with taking what he described as the right steps to turn the situation around, rather than relying on extraordinary measures.
“President Mahama turned around the economy of Ghana in a very short time. It wasn’t a very good case, but when he came in, he didn’t do any magic, but he did the right things,” he said.
He further linked the turnaround to the level of trust investors have placed in the President, saying confidence in leadership can influence the movement of capital.
“He didn’t do any magic. He’s not a magician, but he did the right things, and people really have a lot of trust in him and that’s why Ghana’s economy turned around,” Mr Dangote said.
Government highlights economic recovery
Mr Dangote’s comments come as the Mahama administration continues to highlight economic stabilisation and renewed investor confidence as key elements of its Resetting Ghana Agenda.
The Presidency has pointed to developments including lower inflation, a stronger cedi, improved fiscal performance and growing foreign exchange reserves as signs of economic stabilisation.
The government also completed Ghana’s Extended Credit Facility programme with the International Monetary Fund in May 2026 and transitioned to a non-financial Policy Coordination Instrument, saying the move reflected progress in fiscal stability and structural reforms.
President Mahama has separately said the government’s reforms have helped restore investor confidence and stabilise the macroeconomy. In June, he said the economy was “back on track” and that investor confidence was growing.
At the Accra Reset event, Mr Dangote’s remarks placed investor trust at the centre of the discussion on Ghana’s economic recovery, arguing that restoring confidence is critical to attracting capital and sustaining economic growth.
