Mahama calls for end to aid dependency, urges equitable investment at Russia-Africa Summit

President John Dramani Mahama has reaffirmed Africa’s firm commitment to ending longstanding dependency on foreign aid and raw material extraction, urging global partners to embrace investment models that deliver equitable, long-term returns for all parties.

Speaking during a high-level roundtable at the 3rd Russia-Africa Summit in Moscow, President Mahama said the primary objective for African leadership today is to eliminate structural and administrative bottlenecks that hinder goodwill from evolving into robust, sustainable commercial ties.

“Africa is a continent of the future. Immense opportunities abound for mutual investment between African and Russian enterprises — particularly in agriculture, agro-processing, healthcare, energy security, and digital services,” President Mahama declared.

To address existing trade imbalances, the President advocated enhanced, direct market access for African goods into the Russian Federation.

To achieve this, he proposed the deployment of modernised trade settlement mechanisms, specifically highlighting the use of local currencies and integrated digital payment architectures to facilitate smooth bilateral transactions.

“Better market information, predictable quality standards, resilient logistics, and closer cooperation between our respective private sectors can make trade far more balanced, reliable, and mutually rewarding,” he noted.

President Mahama, who will assume the Chairmanship of the African Union (AU) next year, acknowledged Russia’s historical solidarity with the continent, noting that this long-standing political goodwill must now serve as a bridge to shared technological and economic advancement.

“You stood by Africa during the struggle against colonialism and extended critical support to our newly independent nations. Today, we are prepared to leverage Russia’s expertise in technology-driven initiatives to accelerate modern industrialisation, growth, and prosperity across our continent,” he said.

President Mahama noted that his participation at the summit is part of Ghana’s broader diplomatic and economic strategy to diversify international trade relationships, attract strategic investments, and advance the African Continental Free Trade Area (AfCFTA) agenda.