President John Mahama has urged African nations to shift from exporting raw materials to producing finished goods as a means of increasing global trade share and creating sustainable jobs.
Speaking at the 2025 Africa Prosperity Dialogues in Accra on February 1, Mahama stressed the need for value addition and local ownership of the continent’s vast natural resources.
“We must move beyond being exporters of raw materials to become producers of finished goods. Whether it is cocoa in Ghana, oil in Nigeria, copper in Zambia, or diamonds in Botswana, we must process and add value to our natural resources,” he stated.
President Mahama argued that this approach would not only boost Africa’s trade presence but also generate employment opportunities, particularly for the youth.
He stressed the need for indigenising ownership of natural resources, highlighting that capital and technology are now more accessible for increased local participation in resource exploitation.
To achieve this transformation, he urged governments to work closely with the private sector to drive industrialization through special economic zones that encourage manufacturing and innovation.
He also stressed the importance of improving access to finance for small and medium-sized enterprises (SMEs), which he described as the backbone of Africa’s economies. Additionally, he called for increased investment in technical and vocational education to equip young people with the skills needed for the industries of the future.
The President also pointed out that the Fourth Industrial Revolution presents Africa with a unique opportunity to leapfrog traditional development models by leveraging digital transformation.
“We don’t need to go back to inventing the wheel. Digital transformation can drive financial inclusion, improve public service delivery, and create new opportunities for all our people,” he noted.
He urged African leaders to expand internet access and digital infrastructure to bridge the digital divide and promote FinTech and e-commerce as tools for boosting trade and economic participation.
Source: Myjoyonline.com
