President John Dramani Mahama has renewed calls for Africa to achieve true economic independence through industrialisation and value addition, cautioning that political freedom without economic transformation is incomplete.

Speaking at the opening of the Africa Trade Summit at the Kempinski Hotel in Accra on Wednesday, President Mahama criticised Africa’s long-standing reliance on exporting raw materials while importing finished goods, describing the model as outdated and exploitative.

“Our generation is defining what economic independence truly means. What is freedom without economic transformation? Is it complete?” the President asked.

He argued that the continued export of unprocessed commodities such as cocoa, timber and minerals amounts to a modern form of colonialism that deprives African economies of jobs, technology and revenue.

“We can no longer accept an economic model that consigns Africa to exporting raw materials and importing finished goods. That model is a new colonial arrangement designed to trap Africa in poverty,” he said.

President Mahama stressed that Africa’s industrialisation drive must be anchored in value addition and beneficiation, noting that manufacturing and agro-processing are essential to inclusive economic growth.

“Manufacturing and agro-processing create jobs, raise incomes, deepen skills and anchor inclusive growth,” he said, adding that Africa currently contributes less than two per cent of global manufacturing output.

Using cocoa as an example, the President noted that while Africa produces the majority of the world’s cocoa, it captures only a small share of the value generated by the global chocolate industry.

He said the prevailing export model has denied African economies employment opportunities, technology transfer and sustainable revenues for decades.

President Mahama added that Ghana is taking deliberate steps to reduce its dependence on raw commodity exports by promoting domestic processing, cutting imports and boosting export earnings, expressing optimism that similar efforts across the continent could drive meaningful economic transformation.