The former president of Ghana; His Excellency John Dramani Mahama while addressing the 24th African Business Conference organized by The Havard School of Business says,it is shameful to see Africans totally depend on imported goods.
According to John Dramani Mahama, it is time Africa pushes for its self reliance by boosting trade on the continent .He said, “We must push for self-reliance for key strategic commodities and supplies such as rice, tomatoes, onions, and vegetable oil for which we have a comparative advantage. It is such a shame that Africa continues to import these commodities when we have favourable conditions to produce them.
He also admonished that; “Africa must take greater control of the trade and processing of its natural resources like cocoa, and the minerals and build stronger capacity to respond to global energy shocks stemming out of situations such as the Russia-Ukraine conflict.”
He also petitioned that certain regulatory measures were put in place. According to ex president Mahama, the reinstatement of services like the Debt Service Suspension Initiative will help Africa curtail the debts of its individual states.
“Many African countries, including Ghana have reached debt distressed levels with debt to GDP ratio ranging between 70% and 80%. I am advocating for a reconstitution of the Debt Service Suspension Initiative to offer our countries some fiscal space to make investments in critical states such as education and health”, John Mahama insisted.
Full video to John Dramani Mahama’s address at the conference is below;
