African countries must accelerate industrialisation and value addition if the continent is to secure jobs, resilience, and economic sovereignty in a rapidly shifting global economy, John Dramani Mahama said at the Africa Trade Summit 2026 in Accra.
Speaking at the two-day summit held from 28–29 January, Mahama called on governments, businesses, and financial institutions to work collectively to move Africa away from its long-standing dependence on raw material exports toward manufacturing, agro-processing, and industrial production.
The summit was organised by the Africa Trade Chamber as a private sector–led continental platform to advance African Continental Free Trade Area (AfCFTA) implementation, intra-African trade, and industrial development.
Breaking the Raw-Materials Trap
Mahama warned that Africa’s traditional economic model—exporting raw commodities while importing finished goods—has left the continent exposed to external shocks and locked into low-value activities.
“We can no longer accept an economic model that consigns Africa to exporting raw materials and importing finished goods,” he told delegates. “Manufacturing and agro-processing create jobs, raise incomes, deepen skills, and anchor inclusive growth. They allow us to retain more value from our own resources and build resilient economies.”
He described the structure as a modern form of economic dependency that continues to limit development outcomes across resource-rich African nations, despite political independence.
Industrialisation Needs the Private Sector
Mahama stressed that industrialisation cannot be delivered by governments alone. He highlighted the need for policy stability, reliable infrastructure, skills development, and long-term financing to crowd in private investment.
He added that Africa’s failure to capture value from commodities—despite producing the bulk of the world’s cocoa and holding vast mineral reserves—underscored the urgency of beneficiation and diversified production.
Financing and Trade Reform
The former president also called for reforms to the global financial architecture, arguing that limited access to affordable capital and sustainable debt solutions continues to constrain Africa’s industrial ambitions.
He said AfCFTA implementation must go beyond tariff reductions and focus on reducing non-tariff barriers, simplifying customs procedures, improving logistics, and investing in digital trade infrastructure if it is to translate into real industrial growth.
Industry Voices Echo Call
Echoing Mahama’s remarks, Sam Jonah, chairman of the Advisory Board of the Africa Trade Chamber, urged African countries to pursue a more deliberate, inward-looking strategy centred on building domestic industrial capacity.
Jonah warned that without industrialisation, Africa risks marginalisation in a global economy increasingly shaped by protectionism, geopolitical rivalry, and climate change.
“Industrialisation is both Africa’s shield and its sword,” he said. “Growth without structural transformation is fragile.”
AfCFTA and Industrial Production
Fatou Haidara, deputy director-general of the United Nations Industrial Development Organization (UNIDO), said AfCFTA would not deliver its promise unless trade liberalisation progressed in parallel with industrial production.
She emphasised the need for integrated regional value chains, supported by energy investment, infrastructure, finance, and bankable industrial projects, to shift Africa from commodity exports to value-added goods.
Outlook
The Africa Trade Summit 2026 reinforced a growing consensus among policymakers and business leaders: Africa’s future competitiveness depends on industrialisation, not commodity dependence.
As AfCFTA moves from ambition to implementation, the challenge will be turning political commitment into factories, jobs, and value chains that anchor Africa more firmly in the global economy—on its own terms.