President John Dramani Mahama has called for a bold redefinition of Africa’s debt strategy, emphasizing innovation, self-sufficiency, and financial reform.
Speaking at the African Union Conference on Debt in Lomé, Togo on Monday May 12, he urged African nations to shift their economies away from reliance on external borrowing, extraction, and aid.
“Debt must no longer be synonymous with crisis, but with capacity”.
President Mahama further advocated for broadening tax bases, digitizing revenue collection, and strengthening domestic capital markets to enhance financial stability.
He challenged African leaders to take control of the continent’s economic future, stating, “Let us act not as debtors pleading for relief, but as partners demanding reform.”
“How do we redefine Africa’s debt narrative?, he quizzed.
President Mahama reaffirmed Ghana’s commitment to leading this effort alongside fellow African nations, expressing confidence that a united Africa can overcome its debt challenges and achieve lasting prosperity.
“Africa, united in vision and action, can overcome its debt challenges and deliver prosperity for generations of Africans yet to come”.
