President Mahama Advocates Shift from Aid Dependency to Investment-Led Growth in Africa

Dubai: President John Dramani Mahama has emphasized the need for Africa to transition from relying on aid to fostering investment-led growth as the foundation for the continent's long-term economic transformation. Speaking at the Global Africa Investment Summit in Dubai, President Mahama underscored the importance of Africa exercising control over how global capital interacts with the continent, advocating for future partnerships that emphasize economic sovereignty, value creation, and mutual prosperity. According to Ghana Web, the President highlighted the changing global landscape characterized by geopolitical fragmentation, supply chain realignments, reduced traditional aid, and heightened competition for capital. These factors necessitate a novel development model for Africa. President Mahama stressed that Africa must be proactive in shaping global engagement, advocating for an "Accra Reset" to transition the continent from aid dependency to investment-driven growth, which he deemed essential for sustain able development. He further elaborated that Africa possesses significant sovereign assets that can be converted into credible, bankable investment platforms. The Global Africa Investment Summit aims to transform these assets into investable portfolios with clear revenue streams and robust governance frameworks, appealing to institutional investors seeking stability and predictability. Highlighting Ghana's experience, President Mahama pointed to the country's natural resources as a strong investment proposition. Ghana's gold production positions it as Africa's leading producer and among the top ten globally. With improved asset structuring, gold alone could generate several billion dollars annually. Recent reforms in the gold export sector have increased volumes from the small-scale mining sector significantly, generating substantial revenue. In addition to gold, Ghana is a major producer of manganese and possesses significant bauxite reserves, enhancing its strategic role in global aluminium value chains. President Mahama announced a ban on the export of raw mineral ore to promote value addition and manufacturing, inviting global investors to partner with Ghana in processing and value creation to create jobs and strengthen Africa's position in critical mineral supply chains. President Mahama emphasized that global capital now seeks structured investment platforms rather than isolated projects. He described the Global Africa Investment Summit as a pivotal event offering scalable opportunities across multiple sectors. This approach, he argued, enables African economies to attract long-term capital without increasing public debt unsustainably. The President praised Dr. Akinwumi Adesina and Madame Marguerite Krauss for their leadership in establishing the summit. He expressed confidence that the summit will provide a collaborative platform for engaging global investors and advancing Africa's development agenda. President Mahama reaffirmed Ghana's commitment to the initiative, urging stakeholders to mobilize glob al capital and unlock Africa's economic potential.