Africa must take a crucial step towards economic transformation by manufacturing what it consumes, rather than relying heavily on raw material exports, according to John Dramani Mahama.
The former Ghanaian President made this call while addressing the Reset Davos convening, where he emphasized the need for a shift towards value addition and industrial growth.
Mahama argued that long-term economic stability depends on building local production capacity, strengthening regional supply chains, and keeping more value within African economies.
He stressed that the continent’s reliance on exporting raw materials has not yielded the desired economic outcomes, and it’s time for Africa to harness its resources to drive industrialization.
The former President’s remarks underscore the pressing need for Africa to diversify its economies and advance up the value chain.
Mahama’s call to action is a reminder that Africa’s economic future hinges on its ability to manufacture and add value to its raw materials.
By building local production capacity, Africa can create jobs, stimulate economic growth, and reduce its dependence on imports.
Strengthening regional supply chains is also crucial, as it will enable African countries to trade more with each other and keep the value of their resources within the continent.
Mahama’s message is clear: Africa’s economic transformation depends on its ability to industrialize and add value to its resources.
The Reset Davos convening provided a platform for Mahama to share his vision for Africa’s economic future, and it’s up to leaders and stakeholders to take heed of his call to action.
