Africa Must Reform for Investment – President Mahama

Africa is open for business and ready to partner with any nation on a win-win basis.

However, trade and investment will not come simply because the continent wishes for it.

The continent must therefore undertake necessary reforms to become an attractive investment destination.

President John Dramani Mahama said this in his remarks at the second plenary session of the 9th Tokyo International Conference on African Development (TICAD) in Yokohama, Japan on Thursday.

“Africa is open for business. We wish to partner with any nation in the world on a win-win basis. But let’s not kid ourselves! Trade and investments will not come to Africa because we wish for it,” he stated.

He outlined specific areas requiring attention, saying “That is why we must silence the guns and stop the fighting. That is why we must reform our economies and make them more stable and predictable. This is why we must reform our governance and make public service accountable and corruption-free.”

President Mahama co-chaired the session themed ‘Economy: Co-create Innovative Solutions with Africa’ alongside former Japanese Prime Minister Kishida Fumio. 

The session featured interventions from Kenyan President William Ruto, Togolese leader Faure Gnassingbe, and South Africa’s Cyril Ramaphosa. UN Under-Secretary General Cristina Duarte and Comoros President Azali Assoumani also delivered remarks.

President Mahama noted that TICAD-9 is taking place during a period of rapid change in the global order. 

He observed that “the world’s largest economy, which should be the driver of global trade and investments, has become more insular and transactional in its relationship with the rest of the world.”

Richard Aniagyei, ISD