President John Dramani Mahama has welcomed President Carlos Manuel Vila Nova of São Tomé to Accra for the 2026 Africa Trade Summit.
In a Facebook post, President John Dramani Mahama called for a radical shift in how African nations finance their development, arguing that “political freedom without economic transformation is incomplete.”
He used the high-profile gathering to advocate for structural reforms that prioritise the continent’s industrial future.
He noted that while industry is the engine of growth, it remains notoriously capital-intensive—a reality that often leaves African businesses behind.
“Access to long-term affordable finance remains constrained, especially for small and medium-sized enterprises (SMEs) that employ the majority of Africa’s industrial workforce,” Mahama stated.
He highlighted a persistent irony: Africa sits on significant internal wealth that is often underutilised for domestic production.
To bridge the investment gap, Mahama proposed a strategic redirection of existing African assets.
He urged governments to move beyond traditional borrowing and tap into homegrown financial reservoirs to fund “productive ventures”.
Below is the full statement
I welcomed my brother, President Carlos Manuel Vila Nova of São Tomé, to Accra for the 2026 Africa Trade Summit.
The summit provided a platform to reiterate the urgent need for African governments to embrace reforms that directly impact development and guarantee the safety and well-being of our people.
It is obvious that political freedom without economic transformation is incomplete.
Industrialisation we know is capital-intensive. Yet access to long-term affordable finance remains constrained, especially for small and medium-sized enterprises that employ the majority of Africa’s industrial workforce.
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.
By: Rainbowradioonline.com/Ghana
