The African Continental Free Trade Area (AfCFTA) is the most ambitious integration project ever in the history of the African continent, President John Dramani Mahama has said.
Speaking at the Africa Trade Summit 2026 in Accra, President Mahama said industrial integration required market integration.
The Africa Trade Summit 2026 is the continent’s premier platform for advancing industrialisation, trade and investment.
Organised by the African Trade Chamber, in partnership with the government, the summit is aimed at shaping Africa’s economic transformation under the framework of the African Continental Free Trade Area (AfCFTA) and the African Union’s Agenda 2063.
The summit, which ends today, is on the theme: “Financing Africa’s industrialisation, development, industrial value chains, beneficiation and market integration.”
It is being attended by business leaders, government officials and trade experts, who are deliberating on concrete financing mechanisms for the continent’s industrial transformation.
Prospects
The President said by creating a single market of over 1.3 billion people, AfCFTA provided a scale African industry had long lacked to expand.
He said it had transformed Africa into a viable manufacturing and investment destination.
“And Ghana is proud to host the Secretariat of this continental body and to be among the early adopters of trading under its preferences.
“The African Continental Free Trade Area will not automatically industrialise Africa.
It must be deliberately linked to industrial policy, infrastructure investment, and enterprise development,” the President added.
He, however, said reducing non-tariff barriers, simplifying customs procedures, improving logistics, and investing in digital trade infrastructure were essential if the African Continental Free Trade Area was to deliver on its promise.
President Mahama said Ghana’s experience reinforced key lessons, adding that industrialisation worked when policies were deliberate, infrastructure was reliable, skills were developed, and macroeconomic stability was maintained.
Investments
The President said investments in transport, energy, technical education and good governance were foundational.
He said investor confidence thrived when institutions were strong and policies were predictable.
“Africa’s industrial transformation cannot be achieved solely by governments. Governments must provide leadership and stability.
The private sector must invest and innovate,” President Mahama stated.
“Financial institutions must design long-term financing solutions. Development partners must align with Africa’s priorities, and African institutions must coordinate and remove the barriers to integration,” he said.
Gold Board
The President said that Ghana had experienced a dramatic turnaround in gold export revenue repatriation, crediting the newly established Gold Board for ensuring 100 per cent foreign exchange returns from small-scale mining shipments.
He said in 2024, total gold exports from the small-scale sector reached 63 tonnes, but proceeds from roughly 23 tonnes, worth millions of dollars, failed to return to the country.
“Since the establishment of the Gold Board, exports from the small-scale mining sector have increased to 104 tonnes, with 100 per cent of the foreign exchange repatriated to Ghana,” President Mahama said.
Other speakers
The Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, said Africa was at a defining moment as global industrial policy made a strong return, driven by supply chain resilience, strategic autonomy, and national security concerns.
She highlighted Ghana’s focus on textiles and garments, automotive components, and pharmaceuticals, describing them as strategic sectors with strong employment potential, regional market opportunities under AfCFTA.
The Chairman of the Advisory Board of the African Trade Chamber, Sir Sam Jonah, argued that industrialisation was Africa’s shield and sword, warning that without it the continent would remain trapped as a supplier of raw materials while others captured value.
The Deputy Director-General of the United Nations Industrial Development Organisation (UNIDO), Fatou Haidara, said Africa must urgently move from policy ambition to industrial execution if it was to benefit from global value chain reconfiguration and AfCFTA opportunities.
Source:
www.graphic.com.gh
