President John Dramani Mahama says Africa’s political independence will remain hollow unless it is matched with deliberate economic transformation driven by bold reforms and sustainable financing.
In a post on X on Thursday, January 29, 2026, the President shared reflections from his meeting with São Tomé and Príncipe’s President, Carlos Manuel Vila Nova, whom he welcomed to Accra for the 2026 Africa Trade Summit.
President Mahama noted that the summit created an important opportunity for African leaders to reaffirm the urgency of reforms that directly advance development while safeguarding the welfare and security of citizens across the continent.
He stressed that while Africa has made gains in political freedom, true progress will only be realised through economic transformation anchored in industrialisation.
“Political freedom without economic transformation is incomplete.”
He added, “access to long-term affordable finance remains constrained, especially for small and medium-sized enterprises that employ the majority of Africa’s industrial workforce.”
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To address the financing gap, President Mahama called for a strategic shift in capital mobilisation, urging that Africa “must begin to re-channel pension funds, insurance, and sovereign wealth funds, which manage hundreds of billions of dollars into other productive ventures with the right instruments, such as industrial bonds, infrastructure funds, and diaspora financing.”
Source: Starrfm.com.gh
