President John Dramani Mahama have urged African states to swiftly implement economic reforms that directly promote development and enhance the security and welfare of their citizens.
He argues that political freedom and democratic governance are meaningless without concerted efforts to change Africa’s economies and provide the continent’s citizens with sustainable means of livelihood.
In a Facebook post on Thursday, January 29, 2026, President Mahama used the occasion of the 2026 Africa Trade Summit in Accra to emphasise the importance of significant economic reforms throughout the continent.
The summit coincided with a visit by the President of São Tomé and Príncipe, Carlos Manuel Vila Nova, whom President Mahama welcomed to Ghana.
Speaking about industrialization, he pointed out that although it is a capital-intensive process, small and medium-sized businesses (SMEs), which employ the majority of Africa’s industrial workforce, continue to face significant obstacles in obtaining long-term affordable finance.
“Industrialisation, we know, is capital-intensive. Yet access to long-term affordable finance remains constrained, especially for small and medium-sized enterprises,” he stated.
To address this challenge, President Mahama urged African governments to change the way they mobilize domestic resources, suggesting a redirection of funds held by insurance firms, sovereign wealth funds, and pension plans into profitable ventures.
“We 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,” he added.
