Leaders from Africa and Singapore highlight collaboration, investment opportunities, and sustainable growth at the 8th Africa-Singapore Business Forum in Singapore.
Singapore, 26 August 2025 – The 8th Africa-Singapore Business Forum (ASBF) opened today at the Grand Copthorne Waterfront, bringing together senior government officials, business leaders, and policymakers from Africa and Southeast Asia to deepen trade and investment linkages between the two dynamic regions.
In his welcome address, Mr Lee Chuan Teck, Chairman of Enterprise Singapore, reflected on the progress of the forum since its inception, saying, “Since the first edition in 2010, we have hosted more than 5,000 business and government leaders from over 50 countries. Today, we gather in the midst of a profound shift in the global economic landscape. This new reality demands not isolation but deeper collaboration.”
He emphasised the importance of storytelling to build familiarity and trust, quoting Nigerian author Sir Ben Okri: “Stories can conquer fear. It can make the heart grow bigger. And that is exactly what we want to do here at this forum—share experiences, make friends, and forge partnerships.”
Delivering the opening address, Singapore’s Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, Ms Grace Fu, outlined three pathways to strengthen Africa-Southeast Asia cooperation: “Africa and Southeast Asia can work together and play to our complementary strengths. Together, we can represent some of the world’s most dynamic markets with a combined population of nearly two billion people. Whether you are an African company looking East or a Singapore company looking to Africa, make this ASBF your launching pad.”
Her remarks highlighted Singapore’s growing trade and investment presence in Africa, including bilateral investment treaties, digital partnerships, and collaboration on carbon credits under the Paris Agreement.
The keynote address was delivered by H.E. John Dramani Mahama, President of the Republic of Ghana, who positioned his country as a gateway for Singaporean companies into Africa: “Africa-Singapore trade rose by 50 percent between 2020 and 2024 to nearly US$14 billion, with Ghana-Singapore trade alone reaching over US$250 million in 2024. Ghana offers political stability, a rules-based environment, and accumulated Singaporean investments exceeding US$2 billion. Our message is simple: Ghana is open for business 24 hours a day.”
He further stressed the need for reforms in the global financial architecture to meet Africa’s financing gap and invited Singaporean companies to explore opportunities in logistics, agribusiness, renewable energy, digital services, and advanced manufacturing.
The forum showcased the growing confidence between both regions, with Singapore firms investing more than US$30 billion across Africa, and African partners increasingly viewing Singapore as a hub to expand into Asia.
Source: IN Diplomacy Reporters
