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 without intentional policies that restructure economies, create jobs, and ensure people have sustainable lifestyles, political independence and democratic credentials are meaningless.
President Mahama stated in a Facebook post on Thursday, January 29, 2026, that he emphasised the importance of economic reform as a pillar of Africa’s development during the 2026 Africa Trade Summit in Accra. Carlos Manuel Vila Nova, the president of São Tomé and Príncipe, made an official visit to Ghana at the same time as the summit.
“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 pointed out that political independence is insufficient without economic reform, emphasising that Africa needs to go beyond grandiose proclamations to workable plans that support employment, value addition, and industrial growth. 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.
The President urged African nations to direct cash held by insurance companies, pension plans, and sovereign wealth funds into profitable economic sectors in order to close this gap.
“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.
