By Grace Zigah
President John Dramani Mahama has renewed calls for Africa to reduce its reliance on third-party currencies, particularly the US dollar, for intra-continental trade, describing it as a major structural barrier to meaningful economic integration.
Speaking at the “Accra Reset: Addis Reckoning” forum on the sidelines of the 39th Assembly of the African Union (AU) in Addis Ababa on February 15, 2026, President Mahama emphasized that African countries cannot fully harness their economic potential while trade settlements remain dependent on foreign currencies.
He argued that currency conversion requirements create unnecessary delays and costs for businesses across the continent.
Citing concerns raised by Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA), Mahama highlighted the daily frustrations faced by African entrepreneurs.
“Why must a small business in Accra convert local currency into a third-party currency before paying a counterpart in Kenya?” he asked.
“The Pan-African payment and settlement system is a thing whose time has come — and with urgency. I should be able to ship my goods to Kenya and get paid in cedis rather than a foreign currency.”
The President framed this call within the broader Accra Reset agenda, an initiative aimed at dismantling structural dependencies embedded in Africa’s financial and trade architecture.
He emphasized that beyond payment reform, improvements in transport and logistics infrastructure are critical for continental integration.
Mahama praised ASKY Airlines for enhancing connectivity in West Africa and pointed to the extensive African network of Ethiopian Airlines as a model of continental integration.
He also highlighted emerging maritime services along the West Coast, including reefer vessels redistributing cargo between Dakar and Douala, as well as a proposed ferry system linking Accra, Lagos, and Monrovia.
“Once supply and demand are in place, the logistics will follow,” he said.
The President further argued that Africa’s development and economic prosperity are not only beneficial for the continent but also for the world.
He repeatedly stressed the need for execution over discussion, warning that policy frameworks alone are insufficient.
“We take time. And we behave like time is waiting for us,” he said. “As we said, this is the Addis reckoning. From Addis, we must stop talking and start implementing.”
