Researched by Charlotte Gbonsu
Aside from his official duties at the 81st United Nations General Assembly in New York, President John Dramani Mahama attended some side events aimed at strengthening Ghana’s economic and investment ties with the United States.
One of these engagements was at the National Association of Securities Dealers Automated Quotations (NASDAQ) on September 23, 2026, where President Mahama participated in the US-Ghana Presidential Roundtable organised by the US-Africa Chamber of Commerce.
During the discussion, President Mahama said, “Ghana is the gateway to Africa. Inflation is single-digit. $2.5 billion in foreign direct investment last year, one of the fastest-growing economies in Africa, stable democracy, English-speaking, we welcome investment in mining, pharmaceuticals, oil and gas, agriculture and agribusiness, tourism, ICT and digital services, textiles and garments, ladies and gentlemen from the NASDAQ market site I declare Ghana is open for business.”
In this report, GhanaFact fact-checks three claims by President Mahama during the NASDAQ event.
Claim 1
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“Ghana received $2.5 billion foreign direct investment last year.”
Fact-Check
To verify the claim, GhanaFact reviewed the Ghana Investment Promotion Centre’s (GIPC) Facebook page and found that on August 28, 2026, the Centre announced the unveiling of its 2025 Annual Investment Report.
The report showed that Ghana recorded $2.62 billion in Foreign Direct Investment (FDI) in 2025, up from $1.7 million in 2024.
President Mahama, however, cited $2.5 billion in FDI for 2025, which is $120 million lower than the $2.62 billion reported by GIPC.
Therefore, his claim that Ghana received $2.5 billion in foreign direct investment is understated.
Verdict
Therefore, the claim is rated understated
Claim 2
“Ghana’s Inflation rate remains in single digits.”
Fact-Check
In December 2024, the inflation rate stood at 23.8% and 23.5% in January 2025. GhanaFact reviewed data from the Ghana Statistical Service (GSS) and found that Ghana’s year-on-year inflation rate had fallen to single digits since September 2025, at 9.4%.
The rate continued to decline, reaching 8% in October, 6.3% in November and 5.4% in December 2025. In 2026, inflation fell further to 4.6% in July, before rising slightly to 5.0% in August 2026.
| Date | Inflation |
| December, 2024 | 23.8% |
| January, 2025 | 23.5% |
| September, 2025 | 9.4% |
| October, 2025 | 8% |
| November, 2025 | 6.3% |
| December, 2025 | 5.4% |
| July, 2026 | 4.6% |
| August, 2026 | 5.0% |
Fig.1-Table showing inflation rates from Dec.2024 to Aug. 2026
Verdict
Therefore, the claim is true.
Claim 3
“Ghana is one of the fastest growing economies in Africa.”
Fact-Check
GhanaFact reviewed data from the International Monetary Fund (IMF) and found that Ghana is one of Africa’s fastest-growing economies.
In 2025, Ghana became the 8th largest economy in Africa with a nominal Gross Domestic Product (GDP) of $114.71 billion, according to Worldometer’s data.
However, the latest IMF 2026 data places Ghana 10th in Africa with a GDP of $118.29 billion.
Verdict
Therefore, the claim is true.
