President John Dramani Mahama has urged African leaders to take decisive action in transforming the continent’s economy, warning that Africa stands at a crossroads between immense potential and persistent challenges.
Speaking at the Africa Prosperity Dialogues 2025 at the Accra International Conference Centre, Mahama emphasized the need for industrialisation, infrastructure investment, and strong governance to achieve sustainable development.
“Our destiny is in our own hands. The actions we take today through decisive leadership and strategic partnerships will define the future of this dear continent of ours,” he declared.
Mahama highlighted the African Continental Free Trade Area (AfCFTA) as a game-changing initiative with the potential to create the world’s largest free trade area. However, he stressed that trade liberalisation alone is insufficient.
“We must invest in infrastructure to facilitate trade—efficient road and rail networks, exports, and digital connectivity. We must strengthen African supply chains to ensure our industries produce goods and services that meet both regional and global standards.”
From Raw Materials to Finished Goods
Calling for a shift from raw material exports to value addition, Mahama noted that Africa must process its own natural resources to maximise economic benefits.
“Whether it is cocoa in Ghana, oil in Nigeria, copper in Zambia, or diamonds in Botswana, we must process and add value to our natural resources,” he stated, adding that this will not only increase Africa’s share of global trade but also create sustainable jobs for young people.
To achieve this, Mahama called on governments to collaborate with the private sector by establishing special economic zones, facilitating access to finance for small and medium enterprises (SMEs), and investing in technical and vocational education.
Embracing Technology for Economic Growth
Mahama urged Africa to seize the opportunities presented by the Fourth Industrial Revolution to leapfrog traditional development models.
“We don’t need to reinvent the wheel. Digital transformation can drive financial inclusion, improve public service delivery, and create new opportunities for our people,” he said.
“We must expand internet access, support homegrown innovations, and encourage fintech and e-commerce to facilitate trade and economic participation,” he added.
Good Governance as a Pillar for Prosperity
While economic growth is essential, Mahama emphasized that prosperity cannot be achieved without good governance, transparency, and accountability. He warned that Africa’s youth are growing frustrated with the slow pace of economic progress.
The president called on African leaders to commit to strengthening democratic institutions, ensuring free and fair elections, fighting corruption, and promoting peace and security.
“Economic growth is impossible in times of conflict,” he cautioned.