Dubai to build Ghana’s first economic zone

The government of Ghana has signed a memorandum of understanding with Dubai state-owned entity Ports, Customs and Free Zone Corporation (PCFC) to establish an economic zone and digital incubator in Ghana’s capital Accra.

The move is intended to attract foreign investment to West Africa and accelerate Ghana’s goal of becoming a regional technology powerhouse, the UAE state news agency Wam reported.

Under the agreement, a 25 sq km area in Accra will be allocated to PCFC for the development of the economic zone. PCFC will lead the zone’s operations to attract global technology companies, as well as facilitating investment and business expansion.

The MoU will also include property development within the zone. No financial details were given.

PCFC subsidiaries include Dubai Customs, Trakhees, Dubai Ports Authority, Jafza, Dubai Maritime Authority, PCFC Security and PCFC Investment.

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The African Continental Free Trade Area (AfCFTA), which came into being in 2021, is expected to increase intra-Africa trade by 40 percent by 2045. This should result in a 50 percent increase in demand for transport services, Liz Bains, a Dubai-based business journalist covering Africa and the Middle East, wrote in AGBI.

Sultan Ahmed bin Sulayem, group chairman and CEO of DP World, described Africa as “a continent bursting with potential yet facing inherent challenges”, in a blog post published in January 2024.

In December 2024 DP World commenced work on the $1.2 billion Port of Ndayane, aiming to transform Senegal into a major centre for global trade.