Ghana‘s President, John Dramani Mahama, has hailed the African Continental Free Trade Area (AfCFTA) as a transformative force for Africa‘s economic future, describing it as a “game-changer” that holds immense potential for businesses, entrepreneurs, and industries across the continent.
Speaking on the third day of the African Prosperity Dialogues 2025, Mr Mahama emphasized that AfCFTA, which aims to create the world’s largest free trade area, presents a unique opportunity to accelerate industrialization, enhance manufacturing, and drive economic growth.
“The AfCFTA is a game-changer. To realize its full benefits, African governments must collaborate closely with the private sector. This includes establishing special economic zones, improving access to finance for SMEs, and investing in technical and vocational education to equip our youth with the skills needed for the industries of the future,” he stated.
He also called on African leaders to prioritize research and development to foster homegrown innovations and improve global competitiveness.
“We must promote fintech and e-commerce to simplify trade and encourage broader economic participation. If we strategically embrace technology, Africa can become significantly more competitive on the global stage,” he added.
Mr Mahama expressed pride in Ghana’s role as the host nation for the annual summit and reaffirmed his commitment to its continued 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 concluded.
The AfCFTA agreement is the largest free trade pact globally in terms of the number of participating countries, connecting 1.3 billion people across 55 nations with a combined GDP of $3.4 trillion.
The agreement aims to reduce tariffs between member states while addressing regulatory hurdles such as sanitary standards and technical trade barriers.
Its successful implementation is projected to reshape markets, accelerate industrialization, and boost outputs in the services, manufacturing, and natural resources sectors.