Radio1Ghana

President John Dramani Mahama has urged global financiers and policymakers to support a fundamental shift in Africa’s economic relationship with the rest of the world, arguing that the continent’s response to declining foreign aid should be industrialisation, affordable capital and greater economic ownership. Addressing institutional investors, multilateral lenders and international policymakers at the Financial Times Africa Summit in London, President Mahama criticised aspects of the global financial architecture, particularly what he described as the excessive risk premium imposed on African economies. He said African countries often borrow at significantly higher interest rates than their Western counterparts, limiting their ability to…