President John Dramani Mahama has issued a clarion call for a “bold and coordinated” overhaul of Africa’s financial architecture, warning that the continent’s industrial ambitions will remain stalled without access to affordable, long-term capital.
During the Africa Trade Summit 2026 held in Accra on 28 January, the President warned that Africa’s industrialization is being stifled by shallow financial markets and high interest rates, making essential long-term capital unaffordable.
He added that, “Shallow financial markets, high interest rates, debt pressures and limited non-extractive investments continue to slow our progress. These constraints demand new thinking and collective action.”
Meanwhile, the former President of AngloGold Ashanti, Sir Sam Jonah earlier called for unapologetic self-interest by Africa to secure prosperity.
He mentioned that “This is the moment for Africa to be selfish, unapologetically and boldly selfish in pursuing our interests. No more deference to distant agendas. No more exporting raw material while importing finished good dependency. Africa first, Selfish means demanding fair terms in every deal.”
Africa’s financial architecture is undergoing a critical, proactive transformation, moving toward greater self-reliance and reform to address high debt, high-risk perceptions, and inadequate global representation. Key trends include strengthening African-owned multilateral financial institutions (AMFIs), enhancing domestic resource mobilization, and pushing for fairer, sustainable international financial mechanisms.
