Economic freedom must match political freedom – Mahama tells African leaders

President John Dramani Mahama has called on African governments to pursue bold economic reforms, insisting that political independence alone is meaningless without real improvements in the living conditions of citizens.
He made the call while participating in the 2026 Africa Trade Summit in Accra, where he also welcomed President Carlos Manuel Vila Nova of São Tomé and Príncipe to Ghana for the high-level engagement.
In a statement following the meeting, President Mahama said the summit provided an opportunity for African leaders to reflect on the continent’s development trajectory and to push for reforms that directly affect the safety, welfare and prosperity of their people.
“It is obvious that political freedom without economic transformation is incomplete,” he stated.
According to him, Africa’s development must be driven by deliberate policies that promote industrialisation, job creation and inclusive growth.
He stated, however, that progress in industrialisation remains slow largely because access to long-term, affordable financing continues to be limited, particularly for small and medium-sized enterprises (SMEs), which employ the majority of Africa’s industrial workforce.
President Mahama urged African countries to look inward and better mobilise domestic resources to fund development.
“We must begin to re-channel 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,” he said.
The Africa Trade Summit brings together political leaders, policymakers, investors and development partners to explore strategies for boosting intra-African trade, strengthening regional integration and unlocking sustainable economic growth.