African governments and private sector leaders have been urged to take bold steps to self-finance the continent’s industrial transformation, marking a decisive shift away from decades of reliance on foreign aid and external credit.
The call was made at the launch of the Africa Trade Summit 2026, scheduled for January 28–30, 2026 in Accra, on the theme: “Financing Africa’s Industrialisation: Developing Value Chains, Beneficiation and Market Integration.”
The Summit is being organised under the auspices of the Africa Trade Chamber and will convene Heads of State, policymakers, business leaders, development finance institutions, investors, SMEs, and industry experts to deliberate on financing industrialisation, strengthening value chains, and advancing intra-African trade.
Speaking at the launch, Nana Oye Bampoe Addo, Deputy Chief of Staff, said Africa could no longer depend on shrinking aid flows and tightening global credit markets to drive its industrial agenda.
“External aid is shrinking. Credit is tightening. The era of depending on others to finance Africa’s transformation is over,” she said. “This Summit symbolises Africa’s resolve to finance its own future, secure its own value chains, and build prosperity from within.”
She urged African governments to prioritise quality standards, strengthen local content policies, and support industries to meet and exceed global requirements. Ghana, she said, is committed to playing a leading role in this new phase of Africa’s industrialisation.
The Deputy Chief of Staff highlighted Ghana’s own shift toward self-financing, anchored by two major programmes: a US$30.8 billion infrastructure investment plan and a US$1.5 billion agricultural transformation initiative.
These interventions, she noted, are designed to modernise farming, support industrial growth, and reinforce domestic supply chains.
She called on the private sector to take the lead in driving innovation, investment, and competitiveness across the continent’s industrial landscape.
Madam Elizabeth Ofosu-Adjare, Minister of Trade, Agribusiness and Industry, underscored the need for stronger commitments from development partners and financial institutions to support long-term industrial financing that builds productive capacity.
She described Africa’s industrialisation as “non-negotiable,” particularly in the era of the African Continental Free Trade Area (AfCFTA).
Ghana’s 24-Hour Economy initiative, she said, is at the heart of the country’s new economic direction, aimed at boosting productivity, creating jobs, and positioning Ghana as a round-the-clock production hub.
She added that Ghana continues to champion the continent’s shift away from exporting raw commodities only to import finished goods at high prices. President John Dramani Mahama, she noted, has directed a renewed focus on productivity, competitiveness, and job creation.
Madam Ofosu-Adjare encouraged stakeholders to leverage the Africa Trade Summit as a platform to align investments with industrial priorities, capital mobilisation, and necessary policy reforms.
Sir Sam Jonah, Chair of the Advisory Board of the Africa Trade Chamber, stressed that Africa’s industrial financing must be private-sector driven, with SMEs and manufacturers at the centre of the continent’s economic renewal.
He pointed to successful global models, including Singapore, South Korea, and China which built strong domestic manufacturing bases rather than relying on foreign financing for raw material exports. China, he noted, lifted over 800 million people out of poverty through such strategies.
Sir Jonah also highlighted emerging African success stories such as Morocco’s automotive sector, Kenya’s fintech ecosystem, Ethiopia’s industrial parks, and Nigeria’s new refinery, cautioning that these remain isolated cases rather than a continental trend.
“What Africa needs from global partners is not charity but collaboration, technology transfer, fair access to markets, and investment in regional value chains,” he said. Continuing to export raw materials while importing finished products, he warned, amounts to “exporting jobs and importing poverty.”
He emphasised that real transformation would not occur in ministry conference rooms but “in factories, logistics hubs, and businesses that take long-term bets,” adding that no African nation can industrialise in isolation.
The 2026 Africa Trade Summit is expected to deliver clear, actionable financing commitments from public and private partners.
These commitments will focus on value-added industries, cross-border supply chain infrastructure, power and logistics systems, technology transfer partnerships, and regional manufacturing hubs aligned with AfCFTA objectives.
The Summit aims to move the continent beyond rhetoric and provide a coordinated approach to financing Africa’s long-term industrialisation.
