President John Dramani Mahama has renewed calls for bold economic reforms across Africa, arguing that political independence must be matched with deliberate efforts to transform the continent’s economies.
In a post on X, the President said he welcomed President Carlos Manuel Vila Nova of São Tomé and Príncipe to Accra for the 2026 Africa Trade Summit, describing the meeting as timely and significant.
According to Mahama, 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 stressed that political gains alone are not enough to secure Africa’s future, noting that “political freedom without economic transformation is incomplete.”
President Mahama highlighted industrialisation as central to Africa’s development agenda but acknowledged the financing challenges facing the sector.
“Industrialisation we know is capital-intensive. Yet access to long-term affordable finance remains constrained, especially for small and medium-sized enterprises that employ the majority of Africa’s industrial workforce,” he said.
Mahama called for a strategic shift in how Africa mobilises its financial resources, urging governments to rethink the use of domestic capital pools.
He stated that said such measures are critical to driving sustainable development and ensuring that economic growth translates into improved living standards for Africans.
