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A Member of the Council of State, Betty Mould-Iddrisu, has called on the private sector, members of academia, and young people in Africa to work closely with their respective governments to translate development plans into tangible economic opportunities for the people.
She said Africa’s development challenges could not be addressed by governments, banks, academia, young people or entrepreneurs working in isolation.
“We need all of us at this table. And that is why I believe that this conversation is indeed timely and necessary,” Mrs Mould-Iddrisu made the call at the 2026 edition of Africa Future Leaders Network Global Affairs (AFLIGA) leadership series held in Accra.
It was on the theme: “Re-imagining Africa’s SMEs financing, trade, governance and economic development goals in the next decade.”
The event brought together representatives from the government, academia, the private sector, financial institutions and development partners to deliberate on Africa’s economic transformation and the future of the African Union’s (AU) Agenda 2063.
The former Attorney-General and Minister of Justice said Africa had numerous regional development plans, continental strategies, protocols, programmes, roadmaps and action plans, with countries boasting of well-written policy documents, but said these could not automatically translate into effective institutions or improved living conditions unless there was collaboration around them to translate them into realities.
“I have great respect for documents but having been in governance for some time, a beautifully drafted document does not necessarily produce a beautifully functional institution,” she said.
The former Attorney-General and Minister of Justice said the fundamental challenge was, therefore, to determine how Africa could move beyond plans and documents and turn its collective aspirations into a living reality.
She urged the participants to use the diversity of expertise represented at the gathering to develop practical solutions that could be implemented.
The Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, said micro, small and medium enterprises (MSMEs) remained central to economic activities across Africa, supporting livelihoods and providing employment in agriculture, processing, manufacturing, trade and services.
She said the private sector remained a major engine of economic growth, even though it continued to face difficulties accessing appropriate financing when businesses were ready to expand.
“A processor may already have the market but still be unable to acquire the machinery required to increase output. A manufacturer may secure a sizable order but lack sufficient working capital to fulfil it,” the minister acknowledged.
Mrs Ofosu-Adjare, however, said that the challenge was not only about finance, but whether businesses could access financing at a cost and under conditions suitable to their needs.
She said that the government was supporting enterprise development through institutions such as the Ghana Enterprise Agency (GEA) and the Ghana Export Promotion Authority (GEPA).
The minister also added that steps were being taken to establish a Women’s Development Bank to provide financial arrangements that better respond to the realities of women entrepreneurs.
Mrs Ofosu-Adjare said the African Continental Free Trade Area (AfCFTA) also presented a major opportunity for African businesses to expand their markets and strengthen intra-African trade.
The minister, however, called for greater investment in local processing and manufacturing to enable African countries to derive more value from their natural and agricultural resources.
Mrs Ofosu-Adjare said Africa would only be able to demonstrate that Agenda 2063 was working if ordinary citizens began experiencing its benefits well before the target year.
