President John Dramani Mahama, has called on African leaders to take greater ownership of the continent’s place in the global economy, urging bold and strategic action in response to shifting global dynamics.
Speaking at the ninth Tokyo International Conference on African Development (TICAD 9) in Tokyo, Mr Mahama warned that the existing global trading system was under significant strain, with multilateralism in retreat and countries increasingly turning to unilateral policies.
“We are holding TICAD 9 against the backdrop of a rapidly changing world order,” he said. “Multilateralism is on the retreat, and countries are increasingly acting unilaterally in their relationships with the rest of the world.”
Mr Mahama raised concerns over what he described as a growing trend of economic protectionism, particularly among leading global economies.
“The recent round of tariffs and retaliatory tariffs has sparked tensions in world trade and the global economy. The full effect of these trade wars will have a ripple effect on global growth and prosperity for years to come,” he said.
Highlighting Africa’s potential, Mr Mahama called for the formation of a “coalition of the willing” to push for a more sustainable and inclusive model of global growth. He pointed to the continent’s population of over 1.4 billion people and its rapidly growing middle class as key drivers of future economic influence.
He also singled out the African Continental Free Trade Area (AfCFTA) as a powerful tool to strengthen Africa’s position on the global stage.
“Africa is open for business, and it is the next frontier for trade and investment,” Mr Mahama declared.
While he praised platforms like TICAD for fostering partnerships between Africa and the rest of the world, he stressed that the primary responsibility for the continent’s transformation rests with African governments.
“It is up to us as African leaders to create a conducive environment for trade, investment and sustainable growth,” he said.
TICAD, launched in 1993, is a Japan-led initiative aimed at promoting high-level policy dialogue between African leaders and development partners.
