Africa must move beyond aid and raw material exports – Mahama

President John Dramani Mahama has called on African countries to reduce their dependence on foreign aid and raw material exports, urging a shift towards investment-driven partnerships that deliver sustainable economic benefits.

He said Africa must strengthen its commercial ties with global partners, including Russia, by promoting local production, expanding trade and creating opportunities for businesses on both continents.

President Mahama made the call at the third Russia-Africa Summit in Moscow, where he highlighted opportunities for cooperation in agriculture, agro-processing, healthcare, energy security and digital services.

In a social media post on Thursday, October 29, the President said Africa is ready to pursue a new approach to international economic relations that prioritises long-term investment and shared prosperity.

“Our goal as Africa’s current leaders is to eliminate administrative bottlenecks and transform historic goodwill into robust, sustainable commercial ties,” he stated.

President Mahama also called for reforms to address trade imbalances and improve access for African goods in international markets.

He proposed modernised trade settlement mechanisms, including the use of local currencies and integrated digital payment systems, to facilitate transactions between African and Russian businesses.

According to him, improved market information, predictable quality standards, reliable logistics and stronger private sector cooperation would help make trade between the two sides more balanced and beneficial.

The President said Africa offers significant investment opportunities that could benefit both African and Russian enterprises, particularly in sectors capable of supporting economic growth and job creation.

“Africa is a continent of the future. Immense opportunities abound for mutual investment between African and Russian enterprises, particularly in agriculture, agro-processing, healthcare, energy security, and digital services,” he wrote.