A senior banking executive has called for a broader national approach to urban development, warning that Ghana risks losing investment opportunities if infrastructure challenges persist across its cities.
The Senior Manager for Real Estate Financing at Absa Bank Ghana, Nana Kwadwo Boakye-Akyeampong, said Ghana’s cities must be intentionally developed to compete for global capital, skilled labour, and business opportunities.
He made the remarks at the Roundtable Discussion of the 2026 Citi Business Festival on Monday, June 15, under the theme “Building Competitive Cities: Infrastructure, Innovation and Investment for Sustainable Economic Growth.”
Mr Boakye-Akyeampong stressed that cities in West Africa are increasingly competing against one another, making infrastructure quality and urban planning key determinants of investment decisions.
Drawing comparisons within the sub-region, he noted that while Lagos remains significantly larger, cities such as Accra, Abidjan, and Cotonou are more closely matched and therefore compete directly for investors and professionals.
According to him, capital and talent tend to flow toward cities that offer efficient systems, reliable infrastructure, and predictable urban services.
He explained that investors prioritise environments where basic urban challenges such as poor roads, unstable electricity supply, and inadequate waste management systems are effectively addressed.
Beyond Accra, he urged policymakers to adopt a decentralised development approach that strengthens other urban centres with strong economic potential.
He identified Kumasi and Sunyani as cities that could play a key role in balancing Ghana’s development trajectory if given the right infrastructure investment and planning attention.
Mr Boakye-Akyeampong argued that developing multiple competitive cities would not only ease pressure on Accra but also enhance Ghana’s overall attractiveness as an investment destination.
He called for coordinated urban planning efforts across the country to ensure that infrastructure development keeps pace with population growth and economic activity.
“Capital, investment, and talent flow into areas where there is a well-developed ecosystem,” he noted, adding that Ghana must prioritise cities where infrastructure is properly planned and reliable.
The discussion formed part of broader conversations at the Citi Business Festival on how Ghana can position itself to compete more effectively in a rapidly evolving regional and global economic landscape.
