President John Dramani Mahama has urged African leaders to take decisive action to unlock the continent’s economic potential by prioritizing industrialization, digital transformation, and good governance.
Speaking at the Africa Prosperity Dialogue 2025 at the Accra International Conference Centre, Mahama emphasized that despite Africa’s abundant natural resources and youthful population, economic disparities and infrastructure challenges continue to slow progress.
Mr. Mahama described the African Continental Free Trade Area (AfCFTA) as a “game-changing opportunity” that could open up a $3.4 trillion market, create jobs, and boost intra-African trade. However, he cautioned that trade liberalization alone would not be enough to drive economic growth.
“To fully realize AfCFTA’s potential, we must invest in infrastructure, digital connectivity, and supply chain development to facilitate seamless trade across our borders,” Mahama stated.
He further stressed the need for Africa to transition from raw material exports to value-added production, citing Ghana’s cocoa, Nigeria’s oil, Zambia’s copper, and Botswana’s diamonds as key resources that should be processed locally to maximize value creation and create sustainable jobs.
Mr. Mahama highlighted industrialization and digital transformation as essential for Africa’s long-term prosperity.
He called for increased private sector participation, emphasizing the need to indigenize ownership of Africa’s natural resources and support small and medium-sized enterprises (SMEs) through financing and capacity-building programs.
“African businesses must lead the charge in industrialization. Governments must create an enabling environment by investing in technology, innovation, and infrastructure,” he noted.
Mr. Mahama cautioned that economic growth cannot thrive without strong governance structures, warning that growing youth frustration due to limited opportunities could lead to instability.
He called on African leaders to:
Strengthen democratic institutions to ensure political stability.
Fight corruption to create a transparent business environment.
Promote peace and security, as conflict disrupts economic growth.
“We cannot talk about prosperity without governance, transparency, and accountability. Africa’s future depends on ensuring that democracy works for its people,” Mahama said.
Concluding his address, President Mahama urged African leaders to move beyond discussions and take bold actions to implement policies that will drive economic transformation.
“Africa’s time is now. We must seize the opportunity to build a more integrated, industrialized, and prosperous continent,” he declared.
The Africa Prosperity Dialogue 2025 continues to bring together policymakers, business leaders, and stakeholders to chart the path toward Africa’s economic future.
Story by: Joshua Kwabena Smith
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