Mahama: Africa Can Unlock $3.4 Trillion Market Through Strategic Infrastructure Investment

President John Dramani Mahama has emphasized that African leaders possess the ability to unlock a $3.4 trillion market if strategic and targeted investments are made in infrastructure. Speaking at the African Prosperity Dialogues, Mahama shed light on the critical role infrastructure development plays in fostering economic growth, improving connectivity, and creating job opportunities, especially for Africa’s youthful population.

The event, themed “Delivering Africa’s Single Market Through Infrastructure: Invest, Connect, and Integrate,” focused on the pivotal need for infrastructure investment to drive intra-African trade and regional integration. Mahama expressed that enhancing Africa’s infrastructure could significantly boost trade within the continent, making it more competitive in the global marketplace.

He noted that the lack of sufficient and modern infrastructure in many African countries remains a major barrier to the realization of the continent’s economic potential. According to Mahama, the continent’s infrastructure challenges hinder the flow of goods and services, increase transportation costs, and limit the integration of regional markets.

“We must invest in infrastructure to facilitate trade and connect regions more efficiently,” Mahama stated, calling for improvements in road networks, rail systems, ports, and digital connectivity. He added that investments in these areas would stimulate economic activity, enhance industrialization, and make African businesses more competitive. These improvements would also foster greater regional cooperation and help achieve the vision of a fully integrated African market.

Furthermore, Mahama stressed the importance of strengthening African supply chains to ensure that the goods and services produced on the continent meet both regional and global standards. He explained that a well-developed infrastructure network could reduce dependency on external imports and promote local industries to meet the growing demands within Africa. This, he argued, would lead to sustainable economic development and create more opportunities for African youth, who are increasingly seeking employment within the continent’s growing economies.

The former president also pointed out that improving infrastructure could unlock enormous economic potential by helping countries reduce trade barriers, lower production costs, and increase efficiency in the movement of goods and services. “Infrastructure is key to the future of Africa’s growth. We need to ensure that our industries are competitive, that our markets are well-connected, and that we have the necessary infrastructure to facilitate the movement of goods and people across borders,” he said.

In line with this vision, Mahama called on African governments to adopt bold leadership and prioritize investment in infrastructure as a means to unlock the continent’s full economic potential. He emphasized that while the benefits of infrastructure investment may take time to materialize, the long-term positive impact on job creation, trade, and economic development will be immense.

Supporting Mahama’s call for increased infrastructure investment, Dr. Sidi Ould Tah, the President of the Arab Bank for Economic Development in Africa (BADEA), also spoke at the event and commended Ghana’s 24-hour economy initiative. He recognized the initiative as a bold step towards unlocking economic growth and underscored the importance of such visionary projects in driving African prosperity.

“Ghana’s 24-hour economy initiative is an inspiration to the entire continent,” Dr. Ould Tah remarked. “With bold leadership, innovation, and investment, Africa can unlock its full economic potential. At BADEA, we are committed to being a strategic partner to make this vision a reality,” he added.

The dialogue session also highlighted the need for further collaboration between governments, the private sector, and international development partners to ensure that Africa builds the necessary infrastructure to support its growing population and booming markets.

Mahama’s remarks at the African Prosperity Dialogues emphasized that unlocking Africa’s full economic potential hinges on the continent’s ability to invest in and develop its infrastructure. By creating interconnected networks, improving logistics and supply chains, and addressing critical gaps in digital and transport connectivity, Africa can become a more competitive, integrated, and prosperous region on the global stage.