Leading economists and trade experts have called for a bold economic reset across Africa, urging the continent to move away from overdependence on raw material exports and embrace value addition, self-reliance, and deeper regional integration.
Speaking at a forum hosted by the Institute of Economic Affairs (IEA) under the theme “Trump Tariffs: Implications for Africa and Ghana,” the think tank warned that rising global protectionism—exemplified by new U.S. tariffs of up to 60% on African exports—should serve as a wake-up call for the continent.
Dr. Vladimir Antwi-Danso, a Senior Fellow at the IEA, stressed that Africa must accelerate its efforts under the African Continental Free Trade Area (AfCFTA) to build economic resilience.
“This is a defining moment for Africa. We must shift from being raw material suppliers to producers of finished goods. We cannot talk integration without production and self-sufficiency,” he noted.
Dr. Antwi-Danso criticised the continued export of unprocessed resources like cocoa, bauxite, and lithium, arguing that the continent’s failure to add value was undermining its long-term growth prospects.
“African economies must prioritise domestic manufacturing and intra-continental trade. We need to consume what we produce,” he added.
Also weighing in, former Speaker of Parliament Professor Aaron Mike Oquaye said recent global trade tensions reveal a deeper truth: economic alliances are shaped by shifting interests, not loyalty.
“No country has industrialised without initially protecting its markets. While others are closing their doors, we are being asked to open ours wider. That’s not sustainable,” he said.
Prof. Oquaye argued that Africa’s economic future lies in strengthening agriculture and processing its own natural resources. He called for a “deliberate strategy” to achieve economic independence similar to how nations coped during the COVID-19 pandemic.
Meanwhile, Samson Asaki Awingobit, Executive Secretary of the Importers and Exporters Association of Ghana, called for continental unity in trade negotiations.
“The African Union must take the lead. We can’t allow fragmented national approaches to global economic challenges. Unity is our strength,” he said.
He further advocated for policies that support local production—particularly access to affordable credit and rationalised import tariffs—to fast-track AfCFTA implementation.
The forum concluded with a shared consensus: Africa must break the cycle of dependence, invest in its own production capabilities, and treat AfCFTA as a practical economic strategy, not just an aspirational agreement.
