President John Dramani Mahama has called on African nations to construct strong regional production value chains across borders, arguing that fragmented national markets cannot support competitive manufacturing or drive meaningful industrialization. The appeal came Wednesday during the opening ceremony of the Africa Trade Summit 2026, a three day gathering focused on advancing the continent’s economic transformation.
Addressing government officials, business leaders and development partners at the Kempinski Hotel, Mahama emphasized that the time has come for Africa to build competitive industries where raw materials, intermediate goods and final products move seamlessly within regions. He described such integration as essential if the continent is to leverage the market scale created by the African Continental Free Trade Area (AfCFTA).
Industrialization cannot succeed within fragmented national markets. Not every country can produce everything, but together we can build competitive industries across borders, the president stated. He stressed that industrial integration requires market integration, and that both must be pursued simultaneously.
The AfCFTA, which came into force in January 2021, creates a single market of over 1.3 billion people with a combined Gross Domestic Product (GDP) of approximately 3.4 trillion United States dollars. According to Mahama, this provides the scale African industry has long lacked to expand and transforms the continent into a viable manufacturing and investment destination.
Ghana is proud to host the Secretariat of this continental body and to be among the early adopters of trading under its preferences, Mahama said. However, he warned that the AfCFTA will not automatically industrialize Africa and must be deliberately linked to industrial policy, infrastructure investment and enterprise development.
The president outlined several critical requirements for realizing the AfCFTA’s potential. These include reducing non-tariff barriers, simplifying customs procedures, improving logistics networks and investing in digital trade infrastructure. He also called for major investments in transport corridors, energy grids and digital systems while harmonizing standards and regulations across member states.
Mahama assigned specific responsibilities to different stakeholders in Africa’s industrial transformation. He urged African governments to provide leadership and stability, the private sector to invest and innovate, financial institutions to design long term financing solutions, and development partners to align with Africa’s priorities. Pan-African institutions, he added, must coordinate efforts and remove barriers to integration.
The president acknowledged that industrialization is highly capital intensive and continues to be constrained by limited access to long term and affordable financing. How do we finance Africa’s industrialization at the required scale and speed? he asked, highlighting the challenge facing the continent.
He proposed mobilizing domestic resources more effectively through improved revenue collection, stronger public financial management and decisive action against illicit financial flows. Mahama specifically urged African countries to rechannelexisting capital pools into productive ventures.
We must begin to rechannel pension funds, insurance and sovereign wealth funds, which manage hundreds of billions of dollars, into productive ventures with the right instruments such as industrial bonds, infrastructure funds and diaspora financing, the president explained.
Mahama also criticized Africa’s long standing dependence on exporting raw materials while importing finished goods, describing the model as exploitative and outdated. Our generation is defining what economic independence truly means. What is freedom without economic transformation? Is it complete? he asked.
He argued that the continued export of unprocessed commodities such as cocoa, timber and minerals represents a modern form of colonialism that denies African economies jobs, technology and revenue. We can no longer accept an economic model that consigns Africa to exporting raw materials and importing finished goods, Mahama declared.
The president urged fellow African leaders to envision a continent with thriving industrial corridors, integrated supply chains and competitive factories that produce for both African and global markets. An Africa where prosperity is shared and opportunity is created at home. This vision is bold but achievable. What is required now is urgency and resolve, he said. We must move from declarations to delivery, from agreements to implementation, and from vision to construction.
Ghana’s Trade, Agribusiness and Industry Minister, Elizabeth Ofosu Adjare, told the summit that Africa was at a defining moment as global industrial policy makes a strong return, driven by supply chain resilience, strategic autonomy and national security concerns. She highlighted Ghana’s focus on textiles and garments, automotive components and pharmaceuticals, describing them as strategic sectors with strong employment potential and regional market opportunities under AfCFTA.
The minister pointed to recent upgrades in trade logistics as evidence of Ghana’s preparedness to support expanded regional commerce. Phases one and two of the Tema Port Expansion Project are now complete, while modernization works at Takoradi Port continue, she noted.
Ofosu Adjare urged development partners to increase long term industrial financing, warning that without sustained capital for manufacturing and regional value chains, Africa risks missing a historic window of opportunity. She also announced plans to convene African Trade Ministers to discuss harmonization of border procedures and removal of bottlenecks affecting AfCFTA implementation, beginning with West African countries.
The Chairman of the Advisory Board of the African Trade Chamber, Sir Sam Jonah, argued that industrialization was Africa’s shield and sword. He warned that without it, the continent would remain trapped as a supplier of raw materials while others captured value from processing and manufacturing.
The Deputy Director General of the United Nations Industrial Development Organisation (UNIDO), Fatou Haidara, said Africa must urgently move from policy ambition to industrial execution if it is to benefit from global value chain reconfiguration and AfCFTA opportunities.
The Africa Trade Summit 2026 is organized by the African Trade Chamber in partnership with the Government of Ghana. The summit brings together decision makers shaping Africa’s economic transformation under the framework of AfCFTA and the African Union’s Agenda 2063, the continent’s long term development blueprint.
The summit coincided with an official visit to Ghana by President Carlos Manuel Vila Nova of São Tomé and Príncipe, who attended the opening ceremony alongside President Mahama. The gathering provides a platform for dealmaking, investment partnerships and policy dialogue to shape Africa’s next phase of economic growth.
Ghana has been recognized as a leader in AfCFTA implementation, having established the AfCFTA Secretariat headquarters in Accra. The country has actively participated in guided trade initiatives designed to test trade procedures and identify bottlenecks before full scale implementation.
President Mahama also highlighted Ghana’s own efforts to shift away from a commodity export dependent economy by promoting domestic processing, reducing imports and increasing export earnings. Since the establishment of the Gold Board, exports from the small scale mining sector have increased to 104 tonnes, with 100 percent of the foreign exchange repatriated to Ghana, the president said, citing one example of value addition efforts.
The 24 Hour Economy initiative, a flagship policy of President Mahama’s administration, seeks to transform Ghana’s economic landscape by enabling businesses to operate continuously. During her vetting in January 2025, Minister Ofosu Adjare emphasized that the policy would help position Ghana as a hub for trade and commerce since industries will operate around the clock to meet growing demand in the African market.
Mahama insisted that political freedom without economic transformation remains incomplete, stressing that Africa must move beyond lofty declarations to practical strategies that promote industrial growth, value addition and employment. It is obvious that political freedom without economic transformation is incomplete, he stated.
