President John Dramani Mahama has urged African governments to urgently pursue bold economic reforms that directly promote development and enhance the safety and well-being of citizens across the continent. He stressed that political independence and democratic governance hold little meaning without deliberate efforts to transform Africa’s economies and improve living standards.
In a Facebook post on Thursday, January 29, 2026, President Mahama said he used the platform of the 2026 Africa Trade Summit in Accra to reiterate the urgent need for economic reforms that translate into tangible benefits for ordinary Africans. The summit coincided with a visit by the President of São Tomé and Príncipe, Carlos Manuel Vila Nova, whom he officially 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,” President Mahama stated.
He argued that political freedom without economic transformation remains incomplete, warning that Africa must move beyond rhetoric and focus on practical strategies that drive industrial growth, job creation and sustainable livelihoods. According to him, industrialisation remains a critical pathway for economic progress, even though it is capital-intensive and faces significant financing constraints.
President Mahama noted that access to long-term and affordable financing continues to be 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 said.
To overcome this hurdle, the President called for a fundamental shift in how African countries mobilise domestic resources. He urged governments to redirect funds managed by pension schemes, insurance companies and sovereign wealth funds into productive investments that support industrial growth.
“We must begin to re-channel pension funds, insurance, and sovereign wealth funds — which manage hundreds of billions of dollars — into productive ventures using the right instruments such as industrial bonds, infrastructure funds and diaspora financing,” he said.
President Mahama expressed optimism that stronger cooperation among African countries, combined with innovative financing mechanisms, would unlock the capital needed to boost trade, accelerate industrial expansion and drive inclusive economic transformation across the continent. He added that sustained reform efforts remain key to achieving long-term prosperity for Africa.
