President John Dramani Mahama has called on African nations to pursue economic sovereignty, regional integration and institutional reform to unlock the continent’s full development potential, warning that Africa faces a “pandemic of unfulfilled potential” amid shifting global geopolitics.
Addressing the National Assembly of Zambia on Thursday, February 5, 2026, during an official state visit, President Mahama said Africa must move beyond political solidarity to deliver concrete economic and social benefits for its people.
He traced the historic bonds between Ghana and Zambia to the Pan-African vision of Osagyefo Dr. Kwame Nkrumah and Dr. Kenneth Kaunda, noting that the shared struggle for independence should now inspire a renewed fight for economic transformation.
“Trade, growth and prosperity will not come from goodwill alone,” the President said, urging African leaders to confront rising unemployment, fragile health systems and extractive economies that fail to add value locally.
President Mahama highlighted what he described as Africa’s “triple dependency” reliance on external actors for security, donors for social services, and foreign entities for exploiting critical minerals arguing that the situation undermines genuine sovereignty.
He outlined the Accra Reset Initiative, which seeks to reposition Africa through self-reliance, industrialisation and fairer global partnerships, while advocating reforms to global governance systems, including increased African representation on the UN Security Council and changes to the international financial architecture.
Turning to Ghana, President Mahama said his administration, which returned to office a year ago, has prioritised economic recovery, fiscal discipline and inclusive growth. He cited sharp declines in inflation from 23.4 percent at the end of 2024 to 3.8 percent in January 2026, alongside a 32 percent appreciation of the Ghana cedi, ranking it among the world’s top-performing currencies in 2025.
He added that Ghana has successfully renegotiated its debt obligations and is exiting the IMF’s Extended Credit Facility “with dignity.”
Natural Resources and Value Addition
President Mahama stressed the need for Africa to exercise greater control over its natural resources, calling an end to speculative concessions that yield little benefit to local economies.
He pointed to Ghana’s establishment of a Gold Board in 2025, which now has sole authority over gold exports. According to him, gold exports from the artisanal and small-scale mining sector have risen from 63 tonnes to 104 tonnes within 10 months, generating more than US$10 billion in foreign exchange inflows.
Ghana, he said, is also expanding local mineral processing and has replaced flat-rate royalties with a sliding scale linked to international prices.
Ghana–Zambia Cooperation
President Mahama described Zambia as a “natural partner” for Ghana, citing complementarities in mining, agriculture, energy and manufacturing. He announced that the two countries had signed 10 Memorandums of Understanding, including an agreement allowing visa-free travel for all categories of passport holders.
He also reaffirmed cooperation in defence, peacekeeping and intelligence, and praised Zambia’s macroeconomic stabilisation efforts ahead of its general elections scheduled for August 2026.
The President underscored the importance of accountable leadership, strong institutions and the rule of law, warning against democratic backsliding in parts of West Africa.
He also spoke in his capacities as African Union Champion for Financial Institutions, Reparations, and Gender and Development, announcing plans for Ghana to sponsor a UN resolution on slavery and to establish a Women’s Development Bank to support female-led enterprises.
President Mahama concluded by reaffirming Ghana’s commitment to the African Continental Free Trade Area (AfCFTA) and deeper continental integration.
“The future is African,” he said, calling for unity, shared prosperity and collective action to ensure Africa’s rise.
Source: www.kumasimail.com
