Mahama Secures ¥200 Million Chinese Grant For Aflao Market And National Theatre

President John Dramani Mahama has revealed that China has approved an additional grant of 200 million Renminbi (RMB) to support key development projects in Ghana.

In a Facebook post on Thursday, October 16, 2025, President Mahama said the funding followed his bilateral meeting with Chinese President Xi Jinping, where China confirmed the new grant in addition to an earlier 200 million RMB facility.

Based on the Bank of Ghana’s interbank exchange rate of October 15, one Chinese Yuan (CNY) traded at about GH¢1.5786, meaning the ¥200 million grant amounts to roughly GH¢315.7 million.

According to President Mahama, the total funds will be used to build the proposed Aflao Market and to renovate the National Theatre in Accra.

“The Aflao Market will serve as a major trading hub connecting Ghana and Togo, and it forms part of our Resetting Ghana Agenda,” he stated.

He further disclosed that Ghana and China are finalising a Zero Tariff Policy by the end of October to boost trade between the two countries.

The discussions, he said, also focused on promoting responsible small-scale mining, enhancing trade and investment, and strengthening cooperation on Ghana’s 24-hour economy and Green Transition initiatives.

President Mahama assured President Xi of Ghana’s commitment to the One China Policy and reaffirmed the nation’s readiness to support China’s vision for “a new Global System of Governance.”

He emphasised that the engagement with China aligns with Ghana’s broader Resetting Ghana Agenda, which seeks to deepen partnerships and attract strategic investments to accelerate national development

President John Mahama continues to give real meaning to impactful diplomacy.

A snapshot of notable gains from President Mahama’s official engagements in China:

1) During President Mahama’s bilateral meeting with President Xi Jinping — both governments agreed to cooperate… pic.twitter.com/TWze4u1CDw

— Sam Okudzeto Ablakwa (@S_OkudzetoAblak) October 16, 2025

Source: GraphicOnline