President of the Dangote Group, Aliko Dangote, has attributed Ghana’s economic turnaround to President John Dramani Mahama’s efforts to rebuild investor confidence and restore trust in the economy.

According to Dangote, President Mahama did not rely on any extraordinary measures to improve the economy but took decisions that helped restore confidence among investors.

“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,” Dangote said.

Speaking at the Accra Reset event hosted by President Mahama on the sidelines of the United Nations General Assembly in New York on Monday, September 21, Dangote said Ghana’s experience demonstrated the important role investor confidence plays in economic recovery.

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He explained that when investors have confidence in a country’s leadership and economic direction, they are more willing to commit capital and support economic activity.

“This has actually shown that money follows trust,” he stated.

Africa's richest man said Ghana’s recent economic performance illustrated how confidence in a country’s leadership could influence investment decisions and the flow of capital into the economy.

He noted that investors generally look for an environment where they can have confidence in the direction of economic policy and the ability of governments to implement their decisions.

According to him, rebuilding trust could therefore be an important part of efforts to attract investment and support economic growth.

Dangote’s comments come as the government continues to promote Ghana as an investment destination and seeks to attract private capital to support economic recovery, industrialisation and job creation.

President Mahama has said his administration is moving from economic stabilisation towards job creation, following what he described as progress in restoring macroeconomic stability.

The President has also identified industrialisation, the 24-Hour Economy programme, export-led growth and private-sector participation as key components of his economic agenda.

At the Accra Reset event, Mahama said Ghana was undertaking reforms in its national economy, fiscal management, governance structures and industrial sector, while also calling for greater self-reliance and stronger productive capacity.

Aliko Dangote’s remarks form part of a broader discussion on how countries can mobilise investment and strengthen their economies amid changing global economic conditions.

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He said the Ghanaian experience showed that restoring confidence could have a direct impact on the willingness of investors to commit resources.

The Accra Reset event, held on the sidelines of the 81st United Nations General Assembly in New York, brought together political leaders, development advocates and business figures to discuss global development and economic challenges.

DR/MA

LIVE | UN General Assembly: President Mahama turned around the economy of Ghana in a very short time. This has actually shown that money follows trust. It wasn't a very good case, but when he came in, he didn't do any magic, but he did the right things - Africa's Richest Man,… pic.twitter.com/CPBLFHN83h

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