Accra: The Deputy Finance Minister, Thomas Nyarko Ampem, has urged African leaders to transform the continent into an investment destination rather than merely a recipient of aid. He emphasized that the continent's growth and development can be driven by leveraging its financial markets to mobilize long-term capital through credible and innovative means.
According to Ghana Web, at the conclusion of the ACI World Congress in Accra, Ampem encouraged both continental leaders and financial market participants to reposition Africa as a hub for investment. He stressed the importance of generating patient capital to drive economic transformation and stability, noting that Africa currently receives a small share of global capital flows, which needs to change.
Ampem highlighted the necessity for patient capital, innovative financial structures, and deeper bond markets. He also mentioned the importance of blended finance solutions, venture capital, private equity, and sustainable financing instruments in this effort. He cited data from the African Development Bank indicating a significant infrastructure financing gap, which presents an opportunity for transformation.
With projections that one in four people globally will be African by 2051, Ampem called for building strong economies through credible institutions and enabling financial markets. He stressed that financial markets should expand opportunities, finance innovation, and support enterprise to improve people's lives.
He questioned whether African financial systems are prepared to finance the continent's transformation and whether markets are robust enough to mobilize private capital. Ampem called on financial professionals, regulators, and investors to build partnerships and innovations needed for Africa's growth and shared prosperity.
Ampem concluded by stating that the future of global finance will be shaped in African cities, highlighting Ghana's commitment to supporting financial market integration through reforms. These reforms aim to strengthen confidence, trust in institutions, and mobilize capital towards infrastructure, technology, and sustainable growth.