Senior Manager for Real Estate Financing at Absa Bank Ghana, Nana Kwadwo Boakye-Akyeampong, has urged Ghana to accelerate the development of cities beyond Accra to boost the country’s ability to attract investment and skilled talent.
Speaking at a roundtable discussion during the 2026 Citi Business Festival, he said cities across West Africa are competing for capital, businesses and professionals. Therefore, Ghana must strengthen its urban infrastructure to remain competitive.
The discussion was held under the theme, “Building Competitive Cities: Infrastructure, Innovation and Investment for Sustainable Economic Growth.”
Accra Faces Regional Competition
Mr Boakye-Akyeampong said Accra should not be viewed in isolation. Instead, policymakers must recognise that the capital competes directly with other cities across the region.
While Lagos is significantly larger, he noted that cities such as Cotonou and Abidjan are more comparable to Accra and often compete for the same investors and talent.
According to him, investors prefer locations where infrastructure supports business growth and daily life.
“Capital, investment and talent flow into areas where there’s a developed ecosystem,” he said.
Infrastructure Remains Key
Mr Boakye-Akyeampong stressed that reliable infrastructure plays a critical role in attracting investment.
He explained that businesses want to operate in cities where roads, power supply and waste management systems function efficiently.
“You want to go into a city and just plug in. You don’t have to worry about road networks, power infrastructure or waste disposal,” he said.
As a result, he called for better planning and long-term investment in urban infrastructure across the country.
Move Beyond Accra
Although he acknowledged the need to continue developing Accra, he urged policymakers to expand their focus to other growing cities.
He identified Kumasi and Sunyani as key centres with strong potential for economic expansion and investment.
“We have other cities, including Kumasi and Sunyani, that we can develop further. Doing so will help make Ghana more competitive and attract the right kind of investment into the country,” he said.
Building Competitive Cities
Mr Boakye-Akyeampong argued that developing multiple competitive cities would spread economic opportunities across the country and reduce pressure on the capital.
Furthermore, he said improved infrastructure and urban planning would strengthen Ghana’s position as a preferred destination for investment in West Africa.
He added that a coordinated national approach to city development would help attract the investment needed to drive long-term economic growth and national development.
