President John Dramani Mahama, in his role as African Union Champion for African Financial Institutions, has launched the Accra Reset, a bold framework to re-engineer global development financing and institutions as the Sustainable Development Goals (SDGs) near their 2030 deadline.
The initiative was unveiled at a high-level side event during the 80th UN General Assembly in New York, co-convened by President Mahama and former Nigerian President Olusegun Obasanjo.
It brought together heads of state, multilateral leaders, and private sector partners.
Opening the event, President Mahama warned that the global development architecture is “fraying,” citing how COVID-19 reversed two decades of progress in less than two years, climate shocks have left nearly 735 million people at risk of hunger, and many developing countries spend more on debt servicing than on health and education.
“With fewer than half of the 169 SDG targets on track, development-as-usual must end,” he said. “The question is not just what comes after 2030, but how we design systems that actually work. Workability is the name of the game, financing instruments, business models, and smarter conditions that multiply resources rather than ration them.”
A statement from Minister for Government Communications, Felix Kwakye Ofosu, said the Accra Reset will be anchored on sovereignty, workability, and shared value. Health will serve as the entry point and proof of concept, transitioning from aid dependency to health sovereignty.
A “Club of Accra” coalition will pilot financing innovations and establish “geostrategic dealrooms” to drive investment in health, climate, food security, and jobs.
The event also launched the Global Presidential Council, a coalition of leaders from Africa, Asia, and Latin America to provide political leadership, and a Global College of Advisors made up of experts in health, finance, innovation, and business to design and oversee financing pilots.
At the Accra Reset, world leaders expressed strong support for the initiative. Olusegun Obasanjo called for a new era of solidarity beyond aid dependency, while Gordon Brown described it as a forward-looking plan that advances health sovereignty. Speaking on behalf of Kenyan President William Ruto, a representative highlighted the need to finance national ambition with accountability.
Prime Minister Mia Mottley pledged cooperation on skills development and industrial policy to boost pharmaceutical manufacturing.
Access Bank Chairman Aigboje Aig-Imoukhuede committed private-sector leadership and financing, while WHO’s Dr. Tedros Ghebreyesus and WTO’s Dr. Ngozi Okonjo-Iweala offered institutional backing to help rewire global norms.
Concluding, President Mahama recalled the Monterrey Consensus of 2001, which gave rise to GAVI and the Global Fund, stressing that the world now needs “a new vision of multilateralism” that shifts from “wish lists to engines of sustainable value creation.”
Source: myxyzonline.com/Wisdom Hedezome
