President John Dramani Mahama has made a clarion call to forge stronger partnerships that would unlock jobs, technology, and economic growth across the continent.

Speaking at the opening of the 8th Africa–Singapore Business Forum in Singapore on Tuesday, August 26, 2025, President Mahama stated that in an era of tightened financial conditions, fragile supply chains, and rising protectionism, South–South collaboration is not optional, but essential.

“Africa and Singapore must be champions of open markets, trusted rules, and practical partnerships that deliver jobs, technology transfer, and shared prosperity,” he emphasised.

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President Mahama stressed the need to build strong and resilient financial institutions to cushion the continent’s economic needs.

Citing Africa’s financing gap of $1.3 trillion with infrastructure needs estimated between $181 billion and $221 billion per year through 2030, President Mahama noted that the global financial architecture remains inequitable for low- and middle-income countries.

He outlined steps to strengthen Africa’s financial system, including the establishment of the African Monetary Institute as a precursor to the African Central Bank.

“Africa needs justice, not benevolence, in the way international finance is structured. We are also scaling up the Pan-African Payment and Settlement System to enable businesses to settle cross-border trade in local currencies,” he noted.

SP/AE

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