Mahama calls for economic reforms to match Africa’s political gains
John Mahama
President John Dramani Mahama has urged African nations to confront the gap between political independence and economic transformation, insisting that freedom without prosperity leaves citizens vulnerable and unfulfilled.
His remarks came during the 2026 Africa Trade Summit in Accra, where leaders, investors, and policymakers gathered to explore strategies for strengthening continental trade and cooperation. The event also welcomed São Tomé and Príncipe’s President Carlos Manuel Vila Nova, who joined discussions on Africa’s economic future.
“The summit provided a platform to reiterate the urgent need for African governments to embrace reforms that directly impact development and guarantee the safety and well-being of our people,” Mahama said.
The former Ghanaian leader underscored that while Africa has made strides in democratic governance, the continent’s economic structures remain fragile. He argued that industrialisation must be at the heart of Africa’s development agenda, but warned that progress is being slowed by limited access to affordable, long-term financing.
“Industrialisation, we know, is capital-intensive. Yet access to long-term affordable finance remains constrained, especially for small and medium-sized enterprises,” he noted, pointing out that SMEs employ the majority of Africa’s industrial workforce.
Mahama called for a rethink of how African governments mobilise domestic resources, urging them to tap into existing financial reserves to fuel growth. “We must begin to re-channel pension funds, insurance, and sovereign wealth funds, which manage hundreds of billions of dollars, into other productive ventures with the right instruments, such as industrial bonds, infrastructure funds, and diaspora financing,” he added.
The summit’s agenda reflected Mahama’s concerns, with participants examining ways to deepen trade ties, strengthen resilience, and promote inclusive growth. For Mahama, the message was clear: Africa’s political freedom will remain incomplete until it is matched by economic empowerment.
He expressed confidence that with innovative financing tools and stronger regional cooperation, the continent can unlock the capital needed to accelerate industrial expansion, boost trade, and deliver prosperity for its people.
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