President John Mahama has advocated the promotion of Fintech and e-commerce to facilitate trade and economic participation.
Fintech is a term that describes the use of technology to provide financial services and products.
He also urged African nations to invest in research and development to support their homegrown innovations.
President Mahama said this on Saturday in his address at the Presidential Session of the Africa Prosperity Dialogues 2025 in Accra.
He said the Fourth Industrial Revolution presented a golden opportunity for Africa to leapfrog traditional development models.
“We don’t need to go back to inventing the wheel. Digital transformation can drive financial inclusion. It can improve public service delivery and create new opportunities for all our people,” he said.
He called for the expansion of internet access and digital infrastructure to bridge the digital divide on the African continent.
President Mahama said technology indeed, had the power to make Africa more competitive if African leaders embraced it strategically.
President Mahama reiterated that prosperity could not be achieved without good governance, transparency, and accountability.
President Mahama said investors and businesses would thrive where there was stability, predictable policies, and the rule of law.
“Our youth are getting tired and frustrated at the lack of opportunity for realizing their dreams and aspirations,” he stated.
“Our decision to embrace democratic governance was supposed to be accompanied by a dividend that will lead to improvement in the lives of our people and prosperity for all.”
President Mahama noted that unfortunately, progress in this regard had been sluggish and largely intangible.
“If we are to maintain the faith and trust of our citizens in democratic and constitutional governance, we must accelerate our rates of economic growth, expand investments, and provide employment opportunities for our young people,” he said.
“As leaders, therefore, we must reaffirm our commitment to strengthening democratic institutions and ensuring free, fair, and transparent elections.”
He lauded Africa Prosperity Network for the successful organization of the Africa Prosperity Dialogues.
He said Ghana was proud to be the home of this important dialogue series and it would continue to enjoy his utmost support to make subsequent summits even greater.
President Mahama said the conference was a testament to their collective commitment to unlocking Africa’s full potential and ensuring that the African continent takes its rightful place in the global economic system.
The Africa Prosperity Network, a non-profit organization is the vehicle that runs the Africa Prosperity Dialogues, an initiative committed to creating the platforms for partnerships among political and business leaders, civil society and academia in Africa.
The Africa Prosperity Network is a non-profit organisation founded with the objective of advancing the vision of ‘The Africa We Want’ as outlined in the African Union’s Agenda 2063, with particular focus on promoting Africa’s prosperity and economic integration.
Other African leaders, who participated in the Presidential Session of the African Prosperity Dialogues 2025 were President Faure Gnassigbe of Togo and President Azali Assoumani of the Comoros.
GNA