Just four years after plunging into one of Africa’s most closely watched debt crises, Ghana is setting an ambitious new goal: returning to investment-grade status by 2029.
The target, unveiled by Finance Minister Cassiel Ato Forson at an investor conference in London on Wednesday, shows how dramatically the country’s narrative has shifted since its 2022 sovereign debt default, which forced a painful restructuring of both domestic and external obligations.
Rather than discussing debt distress, Ghana is now trying to convince global investors that it is becoming one of Africa’s most compelling recovery stories.
The ambition is significant.
Investment-grade status would place Ghana back among the ranks of lower-risk borrowers, potentially reducing borrowing costs, attracting a wider pool of institutional investors and restoring access to international capital markets on more favourable terms.
