President John Dramani Mahama has called for a new Africa-Russia trade relationship built around investment, value addition and technology rather than dependence on foreign aid and raw material exports.
Speaking at the Third Russia-Africa Summit in Moscow, Mahama said African governments must remove practical barriers that prevent political goodwill from developing into lasting commercial partnerships.
“Africa is a continent of the future,” he said, pointing to opportunities in agriculture, agro-processing, healthcare, energy and digital services.
The President invited Russian investors to explore partnerships in fertiliser production, agricultural machinery, pharmaceuticals, transport infrastructure and the digital economy.
Mahama Pushes for Balanced Trade
Mahama said Africa needs better access to Russian markets if trade between the two sides is to become more balanced.
He called for improved market information, predictable standards, stronger logistics and closer cooperation between businesses.
“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.” - Mahama
The President also proposed exploring local currencies and digital payment systems for legitimate trade settlements, with central banks, commercial banks and fintech companies playing a role.
From Political Ties to Investment
Mahama said Russia’s historical support for African independence movements should now provide a foundation for deeper economic and technological cooperation.
“You stood by Africa during the struggle against colonialism and extended support to the newly independent African countries,” he said.
Ghana currently serves as First Vice Chair of the African Union and is expected to assume the Union’s rotating chairmanship in 2027.
Mahama said the focus should now be on turning diplomatic relationships into investments that build local industries, create opportunities for businesses and support Africa’s long-term economic transformation.
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