Economic reform must match political freedom – Mahama urges African leaders

President John Dramani Mahama has urged African leaders to prioritize urgent economic reforms that will stimulate development and enhance the security and quality of life of citizens across the continent.

He noted that political independence and democratic systems hold little value if they are not backed by concrete actions to transform Africa’s economies and provide sustainable employment opportunities.

In a Facebook post on Thursday, January 29, 2026, the President said he used the 2026 Africa Trade Summit in Accra as an opportunity to stress the importance of bold economic changes throughout Africa.

The summit also coincided with a visit by São Tomé and Príncipe’s President, Carlos Manuel Vila Nova, whom Mahama officially welcomed to Ghana.

According to him, the event served as a platform to highlight the urgent need for reforms that directly support development while ensuring the welfare and safety of the people.

President Mahama emphasized that without economic progress, political freedom remains unfinished, urging African nations to move from speeches to practical policies that encourage industrial growth and job creation.

Speaking on industrialisation, he acknowledged that while it requires heavy investment, many African businesses — particularly small and medium-sized enterprises (SMEs) — struggle to access affordable, long-term financing despite being major employers in the sector.

To overcome this hurdle, he proposed a new approach to mobilizing domestic resources, encouraging governments to channel funds from pension schemes, insurance firms, and sovereign wealth funds into productive economic projects.

He suggested instruments such as industrial bonds, infrastructure investment funds, and diaspora financing as ways to unlock much-needed capital.

President Mahama expressed confidence that stronger regional collaboration, backed by innovative financing strategies, would accelerate trade, industrial development, and inclusive economic growth across Africa, ultimately leading to lasting prosperity.