President John Dramani Mahama has emphasized that African leaders have the capacity to unlock a $3.4 trillion market if critical investments are made in infrastructure. Speaking on the third day of the African Prosperity Dialogues, under the theme “Delivering Africa’s Single Market Through Infrastructure: Invest, Connect, and Integrate,” Mahama highlighted the crucial role of infrastructure in creating jobs and opportunities for young people across the continent.
He pointed out that for Africa to fully benefit from the African Continental Free Trade Area (AfCFTA), it must prioritize strategic investments in transportation, digital connectivity, and energy. He argued that without these essential investments, Africa’s dream of a fully integrated single market would remain unattainable. Mahama stressed that efficient road and rail networks are critical in boosting intra-African trade, reducing transportation costs, and improving access to markets for businesses of all sizes.
“We must invest in infrastructure to facilitate trade, efficient road networks, ports, and digital connectivity. We must strengthen African supply chains to ensure that our industries produce goods and services that meet both regional and global standards,” he stated.
Mahama further explained that Africa has a young and growing population, which presents both an opportunity and a challenge. He noted that with proper infrastructure, the continent could harness the potential of its youth by creating jobs and expanding industries. However, without the necessary investments, Africa risks facing high unemployment rates and economic stagnation. He urged African leaders to work together to secure funding for infrastructure projects and collaborate with international partners to accelerate development.
One of the key points raised by Mahama was the need for a strong and reliable energy sector. He highlighted that energy access remains a major challenge across the continent, with millions of people and businesses suffering from unreliable power supply. According to him, investing in renewable energy sources such as solar and wind power could help address this issue and support Africa’s industrialization drive.
He also stressed the importance of digital transformation in Africa’s economic growth. He noted that digital infrastructure is essential for businesses to thrive in the modern economy and that Africa must invest in expanding broadband internet access and mobile connectivity. By doing so, African businesses, particularly small and medium enterprises (SMEs), can access regional and global markets more efficiently.
Mahama called on African governments to remove trade barriers and implement policies that encourage investment in infrastructure. He argued that high import tariffs, excessive bureaucracy, and inadequate regulatory frameworks continue to hinder the growth of Africa’s economies. He urged policymakers to create an enabling environment that fosters innovation, trade, and investment.
Meanwhile, the President of the Arab Bank for Economic Development in Africa (BADEA), Dr. Sidi Ould Tah, praised Ghana’s 24-hour economy initiative and reaffirmed the bank’s commitment to supporting the vision. He noted that Ghana’s approach to economic transformation serves as a model for other African nations and demonstrates how bold leadership and strategic investments can drive growth.
“Ghana’s 24-hour vision is an inspiration to the entire continent, showing that with bold leadership, innovation, and investment, we can unlock Africa’s full economic potential. At BADEA, we are committed to being a strategic partner,” he said.
Dr. Ould Tah emphasized that African countries must embrace policies that promote economic resilience and sustainability. He pointed out that Africa has immense natural and human resources that, if properly harnessed, could transform the continent into a global economic powerhouse. He encouraged governments to focus on long-term development strategies that prioritize infrastructure, trade, and investment.
Mahama’s call for infrastructure investment aligns with ongoing efforts by the African Union and other regional bodies to improve connectivity across the continent. Several major infrastructure projects, including the African Integrated High-Speed Railway Network and the Trans-African Highway, are currently in progress. These initiatives aim to enhance cross-border trade, reduce travel times, and improve the movement of goods and people.
Despite these efforts, challenges remain. Funding for large-scale infrastructure projects continues to be a major obstacle. Many African countries face budget constraints and struggle to secure the necessary capital for development projects. Additionally, issues such as corruption, poor project execution, and inadequate maintenance of existing infrastructure hinder progress.
To address these challenges, Mahama urged African leaders to explore innovative financing options, including public-private partnerships (PPPs) and foreign direct investment (FDI). He noted that many global investors are interested in Africa’s infrastructure sector but require transparent and predictable regulatory environments. He called on governments to build investor confidence by ensuring accountability and efficiency in project execution.
Another critical aspect Mahama highlighted was the need for stronger regional cooperation. He pointed out that Africa’s fragmented markets and inconsistent trade policies have limited the continent’s economic growth. He urged African nations to work together to harmonize trade regulations, simplify customs procedures, and improve cross-border infrastructure to facilitate seamless trade.
The African Prosperity Dialogues, which brought together policymakers, business leaders, and development partners, served as a platform for discussing actionable strategies to accelerate Africa’s economic growth. Participants acknowledged that while Africa has made significant progress in recent years, there is still much work to be done to fully realize the benefits of AfCFTA.
Mahama concluded his remarks by reaffirming his belief in Africa’s potential. He expressed confidence that with the right investments and policies, Africa can become a major player in the global economy. He called on African leaders to rise to the challenge and take bold steps towards building a prosperous and interconnected continent.
The discussions at the African Prosperity Dialogues have once again underscored the importance of infrastructure in Africa’s economic transformation. As the continent moves forward, the key takeaway remains clear—investing in infrastructure is not just an option; it is a necessity for Africa’s economic success.
