By Ashiadey Dotse
President John Mahama has emphasized the need for Africa to support the private sector to drive economic progress.
Speaking at the “Building or Burning Bridges: Economic and Development Cooperation Amid Multipolarisation” session at the Munich Security Conference on Friday, February 14, 2025, he highlighted that while capital and trade are important, other challenges such as climate change also play a major role in poverty and economic struggles.
Mahama pointed out how climate change has severely affected livelihoods in the Sahel region. He explained that Lake Chad has shrunk to 20 times smaller than its original size, forcing families who depended on it to migrate south. This migration has led to conflicts between herders and farmers in coastal countries, worsening economic and social conditions.
Mahama acknowledged that Africa has historically relied on state-led development but stated that it is time to embrace the private sector. He noted that with advancements in technology and digitalization, African businesses have the potential to lead economic growth. He urged African leaders to create more opportunities and incentives for private companies to thrive.
The president made these remarks during the opening town hall meeting, stressing that Africa must focus on building resilience and supporting private businesses to achieve long-term economic stability.
