China Grants Ghana Additional ¥200 Million to Boost Development Projects

President John Dramani Mahama has announced that China has approved an additional 200 million Renminbi (RMB) grant to support Ghana’s ongoing development projects.

In a Facebook post on Thursday, October 16, 2025, President Mahama said the new agreement was reached after bilateral talks with Chinese President Xi Jinping. The fresh grant adds to an earlier 200 million RMB facility, bringing China’s total recent support to ¥400 million.

Based on the Bank of Ghana’s interbank exchange rate as of October 15, 2025, one Chinese Yuan (CNY) traded at approximately GH¢1.5786, making the ¥200 million grant worth around GH¢315.7 million.

President Mahama explained that the funds would be used to construct the proposed Aflao Market and renovate the National Theatre in Accra.

> “The Aflao Market will be an important trading platform linking Ghana and Togo, and forms part of our Resetting Ghana Agenda,” President Mahama said.

He added that Ghana and China are also working to finalize a Zero Tariff Policy by the end of October to promote smoother trade between the two nations.

During the talks, both leaders discussed ways to promote responsible small-scale mining, expand trade and investment opportunities, and deepen cooperation in new economic areas.

President Mahama revealed that China has shown interest in Ghana’s 24-hour economy initiative and Green Transition policy, expressing readiness to collaborate with the government and private sector to advance these programmes.

He also reaffirmed Ghana’s commitment to the One China Policy and assured President Xi of Ghana’s support for what he described as “a new Global System of Governance” being championed by China.

According to President Mahama, these discussions are part of Ghana’s broader Resetting Ghana Agenda, aimed at strengthening partnerships and attracting foreign investment to drive national development.

China Grants Ghana Additional ¥200 Million to Boost Development Projects

President John Dramani Mahama has announced that China has approved an additional 200 million Renminbi (RMB) grant to support Ghana’s ongoing development projects.

In a Facebook post on Thursday, October 16, 2025, President Mahama said the new agreement was reached after bilateral talks with Chinese President Xi Jinping. The fresh grant adds to an earlier 200 million RMB facility, bringing China’s total recent support to ¥400 million.

Based on the Bank of Ghana’s interbank exchange rate as of October 15, 2025, one Chinese Yuan (CNY) traded at approximately GH¢1.5786, making the ¥200 million grant worth around GH¢315.7 million.

President Mahama explained that the funds would be used to construct the proposed Aflao Market and renovate the National Theatre in Accra.

 “The Aflao Market will be an important trading platform linking Ghana and Togo, and forms part of our Resetting Ghana Agenda,” President Mahama said.

He added that Ghana and China are also working to finalize a Zero Tariff Policy by the end of October to promote smoother trade between the two nations.

During the talks, both leaders discussed ways to promote responsible small-scale mining, expand trade and investment opportunities, and deepen cooperation in new economic areas.

President Mahama revealed that China has shown interest in Ghana’s 24-hour economy initiative and Green Transition policy, expressing readiness to collaborate with the government and private sector to advance these programmes.

He also reaffirmed Ghana’s commitment to the One China Policy and assured President Xi of Ghana’s support for what he described as “a new Global System of Governance” being championed by China.

According to President Mahama, these discussions are part of Ghana’s broader Resetting Ghana Agenda, aimed at strengthening partnerships and attracting foreign investment to drive national development.