AfCFTA a Game-Changer for Africa’s Economic Transformation – Prez John Mahama
Former President of Ghana, H.E. John Mahama, has described the African Continental Free Trade Area (AfCFTA) as one of the most transformative initiatives in recent times, emphasizing its potential to create the largest free trade area in the world and provide a game-changing opportunity for African businesses, entrepreneurs, and industries.
Speaking on Day 3 of the African Prosperity Dialogues 2025, he highlighted the need for collaborative efforts between African governments and the private sector to drive industrialization, boost manufacturing, and enhance economic growth across the continent.
“The AfCFTA is a game-changer. To fully benefit, African governments must work hand-in-hand with the private sector through special economic zones, increased access to finance for SMEs, and investments in technical and vocational education to equip our youth with the skills needed for the industries of the future,” he stated.
He further urged African leaders to invest in research and development to foster homegrown innovations and enhance competitiveness in the global market.
“We must encourage fintech and e-commerce to facilitate trade and economic participation. Technology has the power to make Africa more competitive if we embrace it strategically,” he remarked.
AfCFTA’s Transformational Potential
The AfCFTA agreement is the largest free trade area globally in terms of participating countries, connecting 1.3 billion people across 55 nations with a combined GDP of $3.4 trillion. The trade pact is expected to lift 30 million people out of extreme poverty, but its full impact will depend on effective policy reforms and trade facilitation measures.
The agreement seeks to reduce tariffs among member states while addressing regulatory challenges such as sanitary standards and technical trade barriers. Its successful implementation is expected to reshape markets, accelerate industrialization, and boost output in the services, manufacturing, and natural resources sectors.
Ghana’s Commitment to the African Prosperity Dialogues
Touching on the African Prosperity Dialogues (APD) 2025, organized by the Africa Prosperity Network (APN) in partnership with the AfCFTA Secretariat, H.E. Mahama reiterated Ghana’s pride in hosting the annual summit and pledged his continuous support for its success.
“Ghana is proud to be the home of this important dialogue series, and I will continue to support efforts to make future summits even greater,” he noted.
