FormerPresident,Nana Addo Dankwa Akufo-Addo has renewed his call for African nations to reduce their reliance on foreign aid, advocating for greater regional collaboration and economic self-sufficiency.
Speaking at the launch of former Nigerian President Ibrahim Babangida’s autobiography, Akufo-Addo underscored the need for African leaders to prioritize strategic partnerships over dependency on external support.
“Africa must reject the notion that aid is the key to development,” Akufo-Addo told attendees. “No country has ever achieved lasting prosperity by relying on handouts.”
The remarks come amid ongoing economic challenges across the continent, including rising inflation, heavy debt burdens, and disruptions to global supply chains—factors exacerbated by the COVID-19 pandemic.
Akufo-Addo, who previously served as Chair of the Economic Community of West African States (ECOWAS), called for increased intra-African trade and investment, positioning economic cooperation as key to addressing the continent’s longstanding vulnerabilities. He emphasized the potential of the African Continental Free Trade Area (AfCFTA) to unlock new economic opportunities.
“To move past our historical challenges, we must embrace the AfCFTA fully,” he said. “By removing trade barriers and fostering economic integration, we create the conditions necessary for sustained growth.”
The former president also warned against the long-term risks of donor aid, which often comes with conditions that may not align with Africa’s broader strategic goals. He stressed the importance of investing in local industries, agriculture, and human capital to build genuine self-reliance.
Turning to bilateral relations, Akufo-Addo highlighted the potential for stronger economic ties between Ghana and Nigeria, two of West Africa’s largest economies. He pointed to their shared history and cultural ties as a foundation for deeper cooperation, particularly in trade, energy, and technology.
“Ghana and Nigeria have shown that when we work together, we can achieve more,” he said. “We must move beyond rivalry and embrace collaboration for the benefit of our people.”
In closing, Akufo-Addo urged African leaders to take bold action in shaping the continent’s future, emphasizing that Africa’s prosperity depends on leadership, investment, and a commitment to cooperation. “The future of Africa is in our hands,” he concluded. “With the right approach, we can build a self-reliant, globally respected continent.”
Source:TheDotNews