John Dramani Mahama outlines plan to ban raw material exports by 2030

President John Dramani Mahama has arrived in London to address the Financial Times Africa Summit 2026, where he is advocating for a strategic shift from aid dependency toward industrialization and local value addition. During his address, the President introduced the Accra Reset initiative, a framework designed to mobilize local development financing and reduce Africa's reliance on external support. This move comes as Ghana navigates a $154 million annual loss resulting from the withdrawal of USAID funding, highlighting the urgency of sustainable economic independence.

A cornerstone of the President's economic agenda is the announcement of a total ban on the export of raw materials by 2030. Mahama detailed specific targets for Ghana's key commodities, aiming to refine 100% of the nation's gold and process at least 50% of cocoa beans within the country. Currently, 70% of Ghana's gold is refined domestically, and the President emphasized that increasing these figures is essential for job creation and retaining economic value. To support this industrial transition, he also highlighted a $10 billion infrastructure program intended to modernize various sectors of the economy.

Addressing security concerns in the Sahel region, President Mahama expressed a pragmatic approach to foreign assistance, stating that anyone committed to fighting terrorism—including Russian security forces—is welcome. He noted that the deployment of a West African standby force has been delayed primarily by the absence of a United Nations resolution to secure necessary financing. Despite the complexities of regional security, Mahama reaffirmed Ghana's commitment to a policy of non-alignment, seeking international investment and cooperation without becoming entangled in global geopolitical rivalries.

Following his engagements at the London summit, President Mahama is scheduled to travel to Bahir Dar, Ethiopia. There, he will lead the 12th Tana High-Level Forum on Security in Africa and present the State of Security in Africa Report on October 24, 2026. These high-level meetings underscore the administration's dual focus on securing both economic sovereignty and regional stability as part of a broader vision for the continent's future.