President John Dramani Mahama of Ghana has presented the 2023 Targeted Review Report, emphasising the crucial role of corporate governance in advancing the African Continental Free Trade Area (AfCFTA).
The presentation took place on the sidelines of the 39th Ordinary Session of the African Union Assembly, during the 35th Ordinary Session of the African Peer Review (APR) Forum of Heads of State and Government. It underscored Ghana’s commitment to economic transformation, good governance, and the full implementation of AfCFTA, aligning with the African Union’s declaration of 2023 as the Year of Accelerating AfCFTA Implementation.
President Mahama highlighted that trade liberalisation must be underpinned by strong institutions. The Targeted Review assessed how corporate governance reforms can enhance competitiveness, innovation, and cross-border trade.
The report detailed Ghana’s progress in corporate governance, including the Companies Act, 2019 (Act 992), the National Corporate Governance Code, and regulatory improvements across financial, trade, and public sector institutions. Key agencies such as the Bank of Ghana, Securities and Exchange Commission, Ghana Investment Promotion Centre, Office of the Registrar of Companies, and the State Interests and Governance Authority were identified as critical for oversight and regulatory strengthening.
Supporting institutions like the Ghana Enterprises Agency and the AfCFTA National Coordination Office are being reinforced to help Ghanaian businesses, particularly micro, small, and medium enterprises (MSMEs), benefit from continental trade opportunities. Over 2,000 MSMEs are currently receiving guidance on Rules of Origin compliance, export readiness, and trade financing through the AfCFTA Market Expansion Programme.
The review also highlighted Ghana’s efforts to certify companies to meet AfCFTA standards, with 19 firms already approved. Initiatives like the Guided Trade Initiative have enabled businesses such as G-Mith Enterprise to engage in cross-border trade.
President Mahama underscored investments in digital trade infrastructure, including the Pan-African Payment and Settlement System (PAPSS), mobile money interoperability, and paperless port systems, describing these as key drivers of trade efficiency.
The government continues to enforce transparency and accountability under the Companies Act, including beneficial ownership disclosure, financial reporting, and independent auditing. Ghana’s National Action Plan on Business and Human Rights, aligned with the UN Guiding Principles, promotes responsible business practices and ethical leadership.
The findings of the review support Ghana’s broader economic reset, which focuses on fiscal discipline, structural reforms, diversification, and private sector-led growth. Initiatives include strengthening the Ghana Export-Import Bank for export financing, implementing the 24-hour economy strategy, and launching programmes such as the Women’s Development Bank and Adwumawura Programme to expand financial access, formalize businesses, and generate jobs.
Although initiated under a previous administration, the presentation of the review by President Mahama reflects Ghana’s democratic maturity and commitment to institutional continuity.
The 2023 Targeted Review involved stakeholder consultations across eight regions, supported by national and international experts, and a technical mission led by Ambassador Aly El Hefny from the APRM Continental Secretariat. The African Peer Review Mechanism (APRM) is a voluntary AU initiative that promotes good governance, democracy, and sustainable development. Ghana was among the first countries to undergo a full APRM review in 2006.
The 2023 review reinforces Ghana’s leadership in governance accountability, showing the nation’s continued commitment to corporate governance reforms that support trade, industrial growth, and inclusive economic development under AfCFTA.
President Mahama was accompanied by officials including Samuel Okudzeto Ablakwa; Minister for Foreign Affairs, Dr. Ekow Spio-Garbra; Dr. Callistus A. Mahama, Executive Secretary to the President; Mrs. Joyce Bawa Mogtari, Presidential Adviser; Seth Emmanuel Terkper; Joseph Obeng, APRM Governing Council Member; and Mrs. Winniefred Akoto-Sampong, Executive Secretary, National APRM Secretariat.
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