Africa seeks partnerships, not sympathy – Mahama tells global investors in London

President John Dramani Mahama has called for a reset in Africa’s relationship with the rest of the world, urging global investors and development partners to pursue fair and mutually beneficial partnerships rather than approaches rooted in aid and dependency. Speaking at the 12th Africa Debate in London on Wednesday, June 3, Mr Mahama said Africa’s growing economic importance, youthful population and vast natural resources position the continent as a major force in shaping the future global economy. “For too long, Africa was viewed primarily through the lens of aid, crisis and dependency,” he told participants at the historic Guildhall in London. “But that narrative is collapsing under the weight of current reality.” According to him, Africa’s future relationship with the world must be built on industrialisation, value addition, technology transfer and shared prosperity. “Africa does not seek sympathy. Africa seeks partnerships, fair partnerships, strategic partnerships, mutually beneficial partnerships,” he said. President Mahama argued that the era when African countries merely exported raw materials while importing finished products at higher costs must come to an end. “The future relationship between Africa and the world must be built on value addition, on industrialisation, technology transfer, infrastructure investment, skills development and shared prosperity,” he added.

Turning to Ghana’s economic recovery, Mr Mahama said his administration inherited significant economic challenges when it took office in January 2025, including high inflation, a weakening currency, rising public debt and declining investor confidence. However, he said the government had made progress in stabilising the economy through macroeconomic reforms. “In 18 months, we’ve implemented disciplined macroeconomic reforms, restored fiscal confidence and stabilised the economy,” he stated. He noted that inflation had declined, international reserves had strengthened and investor confidence was returning. President Mahama said the government’s focus now extends beyond economic stabilisation to restructuring the economy around production, exports and industrial growth. “We are repositioning Ghana as a productive economy built on industrialisation, agro-processing, exports, logistics, digital transformation and value addition,” he said.

Mr Mahama also used the platform to market Ghana as a destination for investment, declaring that “Ghana is open for business.” He said the government was pursuing reforms aimed at improving the business environment while investing in transport, energy, digital infrastructure and industrial development. “Our government is undertaking major reforms to improve the ease of doing business. We are strengthening transparency, we are modernising our infrastructure and we are creating a more predictable investment environment,” he said. President Mahama further called for reforms to the global financial system, arguing that African countries continue to face unfair borrowing costs despite their growth potential. “The current international financial architecture remains unequal and outdated,” he said. He also urged developed countries to honour climate finance commitments and support Africa’s digital transformation through collaboration and knowledge sharing.

Mr Mahama said the United Kingdom has an opportunity to deepen economic ties with Africa through trade, investment and technology partnerships. “This relationship must therefore evolve from one that is primarily shaped by aid to one that is anchored in enterprise, innovation and investment,” he said. Addressing investors directly, the President described Africa as a continent of opportunity rather than risk. “Africa is not a risk to be managed. Africa is an opportunity to be seized,” he declared. He urged global investors to engage with the continent at a time when Africa is positioning itself as a major driver of future growth. “Africa is not waiting to be rescued.

Africa is building. Africa is innovating and transforming,” he said. “And Ghana is proud to be part of that transformation.”