President John Dramani Mahama has called on African governments to urgently pursue economic reforms that directly drive development and improve the safety and well-being of their citizens.
According to him, political independence and democratic governance mean little without deliberate efforts to transform Africa’s economies and create sustainable livelihoods for the people.
In a Facebook post on Thursday, January 29, 2026, President Mahama said he used the occasion of the 2026 Africa Trade Summit in Accra to reiterate the need for bold economic reforms across the continent.
The summit coincided with a visit by the President of São Tomé and Príncipe, Carlos Manuel Vila Nova, whom President Mahama welcomed to Ghana.
“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,” he said.
President Mahama stressed that political freedom without economic transformation remains incomplete, arguing that Africa must move beyond rhetoric to practical strategies that promote industrial growth and job creation.
Touching on industrialisation, he noted that while the process is capital-intensive, access to long-term and affordable financing remains a major challenge, particularly for small and medium-sized enterprises (SMEs), which employ the majority of Africa’s industrial workforce.
“Industrialisation, we know, is capital-intensive. Yet access to long-term affordable finance remains constrained, especially for small and medium-sized enterprises,” he stated.
To address this challenge, President Mahama called for a shift in how Africa mobilises domestic resources, urging governments to redirect funds managed by pension schemes, insurance companies, and sovereign wealth funds into productive investments.
“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.
President Mahama said such measures would help unlock the capital needed to drive industrial expansion, boost trade, and accelerate economic transformation across the continent.
He expressed optimism that strengthened cooperation among African countries, supported by innovative financing mechanisms, would position the continent to achieve inclusive growth and long-term prosperity.
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