Ghana President John Dramani Mahama, who came to power in the country’s December elections, has stressed 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 at the Accra International Conference Centre, under the theme “Delivering Africa’s Single Market Through Infrastructure: Invest, Connect, and Integrate,” Mahama highlighted the crucial role infrastructure plays in creating jobs and opportunities for young people across the continent.
He underscored the need to develop efficient road and rail networks to facilitate intra-African trade.
“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 said.
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.
“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.
Over 3,000 participants from 46 countries have gathered in Ghana’s capital, a three-day program that will end Saturday, to discus and generate valuable insights and momentum to accelerate progress towards a shared vision for a prosperous and integrated African continent.
The African economy and poverty reduction is driven by infrastructure development but the driver need more efforts to produce fruits. African leaders are embracing efforts into building modern transportation networks, energy generation, water management systems, and communication infrastructure for generations.
Ghana, the host country of the economic program, is having a turn of development into areas transportation, health, agriculture and energy. Though some of these projects have already commenced but Mahama’s incoming is expected to fasten energy, transportation and agriculture projects.
The closure of the meeting is expected to be followed with immediate actual projects across African countries.
In the energy sector, Israel has pledged to assist Ghana to constructed ultra-modern solar station in the country’s run for sustainable electricity supply and consumption.
“It is necessary for Israel to support Ghana to achieve this giant initiative so that electricity consumption in the country will not come with challenges,” Israeli deputy minister of foreign affairs Sharren Haskel said in a press conference.
