For the sake of both countries' socioeconomic growth, former president John Dramani Mahama has pushed for closer links between Ghana, the Republic of Korea, and the rest of Africa.
He said that the two nations shared the hardships of colonialism, including the scourge of slavery in Africa and the absolute desolation brought on by war in Korea.
"The desire to create a successful existence for our inhabitants develops a shared relationship built on respect and agreements that are mutually beneficial. He suggested such a relationship ought to be enthusiastically welcomed and fostered within expanded trade and economic interaction.
He made this statement during his keynote speech at the recent Korea-Africa Business Summit in Seoul.
Prospects
According to Mr. Mahama, who is also the opposition National Democratic Congress (NDC)'s candidate for president in 2024, Africa is a young continent with an educated, young population that is ready to learn new skills in order to enter the workforce.
He said that in order to keep up with the expanding youth bulge, Africa needed to quadruple its potential for job creation. He suggested that in order to achieve this, the continent's economy needed to grow faster and its exports of primary goods needed to be more diverse.
He said that by forming cooperation with Korea, young Africans would be able to have access to information and technology that would help them develop their many skills and creative abilities.
"Korean investments have a long history in Ghana. Early investors made substantial investments in agriculture and fishing, including the well-known Bok Nam-Kim.
I can see fresh beginnings with the recent establishment of a KIA automobile assembly factory," he said.
In order to benefit both countries, he asked Koreans to look at sectors like FinTech and services (including app development), food production and agribusiness, natural resources, freight haulage and shipping, and energy, among others.
The Africa Continental Free Trade Area (AfCFTA) is perhaps the most significant factor driving Africa's change. A potential market of 1.3 billion people is created by the AfCFTA. This will enable the export of goods from one African nation to another.
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