Ghanaian President John Mahama on Wednesday urged African governments to redirect domestic long-term capital into productive sectors, warning that political progress across the continent remains incomplete without economic transformation.
Speaking at the opening of the Africa Trade Summit 2026 in Accra, Mahama said reforms must deliver tangible improvements in livelihoods and security.
“Political freedom without economic transformation is incomplete,” he told delegates, framing industrialization as a central pillar of Africa’s development agenda.
Mahama said manufacturing growth across Africa continues to face structural financing constraints, particularly for small and medium-sized enterprises that employ most of the continent’s industrial workforce.
“Industrialization is capital-intensive,” he said, adding that affordable long-term finance remains out of reach for many firms.
He called on governments and regulators to mobilize domestic institutional capital, including pension funds, insurance assets and sovereign wealth funds, toward industry and infrastructure.
These pools manage “hundreds of billions of dollars,” he said, and could be channeled into productive ventures through instruments such as industrial bonds, infrastructure funds and diaspora financing.
Mahama also welcomed Carlos Manuel Vila Nova, president of São Tomé and Príncipe, describing the summit as a platform to align leadership around reforms that directly affect development outcomes.
The Africa Trade Summit is being held Jan. 28-29 at the Kempinski Gold Coast City Hotel in Accra.
It is organized by the African Trade Chamber in partnership with the Government of Ghana, bringing together policymakers, financiers and business leaders shaping Africa’s trade and investment priorities.
The forum is aligned with the African Continental Free Trade Area (AfCFTA) and the African Union’s Agenda 2063 framework.
Day one featured contributions from Benedicta Lasi, Sir Sam Jonah, Fatou Haidara of the United Nations Industrial Development Organization, and Ghana’s trade minister Elizabeth Ofosu-Adjare, with discussions centered on industrial capacity, trade integration and financing mechanisms for Africa’s manufacturing base.
