Raw Commodity Exports Undermining Africa’s Growth – President Mahama Warns

President John Dramani Mahama has cautioned that Africa’s continued dependence on exporting raw commodities is slowing economic growth, stifling job creation, and preventing the continent from achieving meaningful industrialisation.

Speaking at the inaugural Africa Trade Summit 2026, President Mahama criticised the long-standing model where African countries export unprocessed natural resources only to import finished products at significantly higher prices. He described this as a cycle that weakens local industries and drains economic value.

“For decades, Africa has exported cocoa, oil, cotton, timber, and minerals in their raw forms, only to re-import finished goods made from these same products at many times their original value,” he said. “This module has deprived our economies of jobs, technologies, and revenue.”

He highlighted the cocoa sector as an example of Africa’s missed opportunities.
“Consider cocoa, for which Ghana is one of the leading producers. Africa produces most of the world’s cocoa yet captures only a small fraction of the value of the global chocolate market,” he pointed out.

At the same summit, Sam Jonah, Chairman of the Advisory Board of the African Trade Chamber, urged African countries to accelerate the implementation of the African Continental Free Trade Area (AfCFTA). He warned that prolonged delays could weaken the continent’s competitiveness in an increasingly fast-shifting global economy.

Jonah emphasised that AfCFTA must transition from policy discussions to real action, serving as a powerful driver of industrialisation, intra-African trade, and sustainable development.

“Let’s be selfish—yes—but in a way that uplifts all Africans, creating jobs and wealth that will circulate,” he said. “To achieve this, we must turn inward, fiercely inward-looking, harnessing our inner strength rather than chasing external validation.”