President John Dramani Mahama has welcomed President Carlos Manuel Vila Nova of São Tomé and Príncipe to Accra for the 2026 Africa Trade Summit, a high-level forum aimed at advancing Africa’s economic transformation agenda.
The summit, President Mahama noted, served as an important platform for African leaders to reaffirm the urgent need for reforms that directly drive development and safeguard the safety and well-being of citizens.
He stressed that political freedom, while essential, remains incomplete without meaningful economic transformation that improves livelihoods across the continent.
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President Mahama highlighted industrialisation as a critical pillar of Africa’s development, acknowledging that it is capital-intensive and heavily dependent on access to long-term, affordable financing.
He expressed concern that such financing remains limited, particularly for small and medium-sized enterprises (SMEs), which employ the majority of Africa’s industrial workforce.
To address this challenge, the President called for a strategic re-channeling of domestic financial resources.
He urged African governments and institutions to mobilise pension funds, insurance assets, and sovereign wealth funds,collectively managing hundreds of billions of dollars,towards productive investments.
According to him, this can be achieved through well-structured financial instruments such as industrial bonds, infrastructure funds, and diaspora financing mechanisms.
The 2026 Africa Trade Summit reinforced the shared commitment of African leaders to deepen cooperation, unlock sustainable financing, and accelerate industrial growth as a pathway to inclusive development and long-term prosperity across the continent.
