First Deputy Governor of the Bank of Ghana (BoG), Dr Zakari Mumuni, has said West African countries must address investor concerns about financial risks, unpredictable government policies and business challenges to attract more Asian capital.

He said the sub-region had significant investment opportunities, but concerns about exchange rate fluctuations, policy uncertainty, inadequate infrastructure and difficulties in recovering investments continued to discourage foreign investors.

Speaking at the High Level West Africa Asia Capital Dialogue in Bangkok, Thailand, on Thursday, October 15, 2026, Dr Mumuni said African countries must tackle these challenges to attract more foreign investment.

"The challenge is not a lack of capital or investment opportunities, but confidence, risk perception, and effective investment structures," he stated.

Africa cannot escape poverty with a generation of job seekers – Sir Sam Jonah

He said Ghana had made progress in reducing inflation, managing its debt and improving its international credit ratings. However, he noted that these gains alone would not be enough to persuade foreign investors to commit their capital.

"Macroeconomic stability is necessary but not sufficient. Investors also require policy predictability, credible institutions, and well-prepared projects," he stressed.

Dr Mumuni identified agriculture, manufacturing, energy, transport and technology as key sectors in Ghana that could attract Asian investment.

He added that the African Continental Free Trade Area (AfCFTA) offered investors access to a wider market by creating opportunities for businesses to reach consumers across the continent.

He called on African governments, development banks and Asian investors to work together to reduce investment risks and improve access to long-term financing.

He also urged African countries to develop well-structured projects backed by clear plans and reliable financial information to assure investors that their capital would be used effectively.

Ghana's mineral royalty revenue doubles to GH¢7.82 billion in nine months - MIIF

"Ultimately, success will be measured not by the number of discussions we hold, but by the investments made, the businesses expanded, and the partnerships sustained," he concluded.

DR/MA

Inside Ghana’s Abandoned Engineering Powerhouse: What Went Wrong?