President John Dramani Mahama has called on African governments to prioritise far-reaching economic reforms that deliver tangible development outcomes and enhance the safety and welfare of citizens across the continent.
He argued that political independence and democratic credentials are hollow without deliberate policies that transform economies, generate jobs and secure sustainable livelihoods for the people.
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 restate the urgency of economic reform as a cornerstone of Africa’s progress. The summit also coincided with an official visit to Ghana by the President of São Tomé and Príncipe, Carlos Manuel Vila Nova.
“The summit offered an opportunity to emphasise the pressing need for African governments to adopt reforms that directly drive development and guarantee the safety and well-being of our people,” he stated.
President Mahama maintained that political freedom without economic transformation remains incomplete, stressing that Africa must move beyond lofty declarations to practical strategies that promote industrial growth, value addition and employment.
On industrialisation, he acknowledged that while it is essential for economic advancement, it is highly capital-intensive and continues to be constrained by limited access to long-term and affordable financing—particularly for small and medium-sized enterprises (SMEs), which employ the bulk of Africa’s industrial workforce.
“Industrialisation is capital-intensive, yet access to long-term, affordable finance remains limited, especially for small and medium-sized enterprises,” he noted.
To bridge this gap, the President called for a new approach to domestic resource mobilisation, urging African countries to channel funds held by pension schemes, insurance companies and sovereign wealth funds into productive sectors of the economy.
“We must begin to re-direct pension funds, insurance assets and sovereign wealth funds—worth hundreds of billions of dollars—into productive ventures through the right instruments, such as industrial bonds, infrastructure funds and diaspora financing,” he added.
President Mahama said deploying such innovative financing mechanisms would unlock critical capital for industrial expansion, deepen intra-African trade and accelerate the continent’s economic transformation.
He expressed confidence that stronger cooperation, combined with bold reforms and creative financing solutions, would place Africa on a path towards inclusive growth and long-term prosperity.
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Source: www.myjoyonline.com