President John Dramani Mahama has urged the global financial system to treat Africa fairly, stressing that the continent cannot close its financing gaps through charity but only through access to affordable capital.
Speaking at the 8th Africa–Singapore Business Forum in Singapore on Tuesday, August 26, 2025, President Mahama—who also serves as the African Union (AU) Champion on Financial Institutions—described the current global financial architecture as “inequitable for low- and middle-income countries.”
Africa’s Financing Needs
He highlighted Africa’s $1.3 trillion annual financing gap, noting that the continent’s infrastructure needs alone are estimated between $181 billion and $221 billion per year through to 2030. Additionally, Africa faces a climate finance gap of about $213 billion annually.
“Africa needs justice, not benevolence, in the way international finance is structured,” Mahama said.
Building Strong African Institutions
The Ghanaian leader explained that Africa is working towards building a self-reliant financial system, including:
- Accelerating the African Monetary Institute as a step towards establishing an African Central Bank.
- Linking 10 major stock exchanges through the African Exchanges Linkage Project to enhance liquidity.
- Scaling up the Pan-African Payment and Settlement System (PAPSS) to enable cross-border trade in local currencies.
Unlocking Africa’s Opportunities
President Mahama emphasized that Africa is investable but requires the right kind of financing instruments. He pointed out Africa’s vast renewable energy potential, rapid adoption of fintech and mobile money, and the expanding consumer base projected to reach over 700 million urban consumers by 2030.
He also underscored the significance of the African Continental Free Trade Area (AfCFTA), which has created a $3.4 trillion market, making it the world’s largest new free trade area by number of countries.
Ghana as Africa’s Reliable Gateway
Positioning Ghana as the continent’s most stable and attractive entry point, Mahama declared:
“Our message is simple: Africa is investable, and Ghana is your reliable gateway to the continent.”
He highlighted Ghana’s economic reforms aimed at restoring investor confidence:
- Inflation easing and currency stabilization.
- Improved credit ratings outlook.
- Regulatory reforms to simplify doing business.
- Review of the Investment Promotion Act, including plans to remove minimum capital requirements for foreign investors.
Mahama also showcased Ghana’s new 24-Hour Economy Strategy, designed to support round-the-clock productivity in manufacturing, logistics, agribusiness, energy, and digital trade. At the heart of this plan is the Volta Economic Corridor, Ghana’s most ambitious integrated development project.
Call for Partnerships
President Mahama reiterated that Africa is not seeking sympathy but practical collaboration that delivers jobs, technology transfer, and shared prosperity.
“Our proposition is straightforward: a stable, reform-minded country, connected to the AfCFTA, designed for scale. Ghana is open for business 24 hours a day.”
He concluded by inviting global investors to Ghana’s Presidential Business Roundtable during the state visit, where bankable projects and direct access to regulators will be showcased to ease decision-making.
