The Africa Economic Forum is positioning itself as a platform to help African countries take greater control of their economic policies and implement strategies that deliver tangible benefits across the continent.
According to Akwasi Oppong-Fosu, Board Chair of the Forum’s Strategic Advisory Board, the initiative aims to shift Africa away from its long-standing reliance on raw material exports and toward a stronger focus on value addition, industrialisation, and global competitiveness.
“The Africa Economic Forum is intended to be a vehicle for Africa to take ownership of its economic policies and ensure their implementation delivers real benefits,” he said.
His remarks come at a time of growing calls for African economies to reduce dependence on commodity exports and instead build industries that can process local resources into finished products for both domestic and international markets.
Organisers say the forum will also address long-standing structural imbalances in the global economy that have limited Africa’s ability to fully benefit from trade, investment, and participation in key international policy platforms.
Mr Oppong-Fosu noted that while African leaders frequently take part in global gatherings such as the World Economic Forum, these engagements have not always translated into meaningful development outcomes for the continent.
He explained that the Africa Economic Forum is designed to offer a more coordinated, Africa-focused platform for economic cooperation, policy dialogue, and strategic investment aligned with the continent’s priorities.
The initiative is also expected to deepen collaboration between governments and the private sector. Under the proposed approach, governments will focus on creating an enabling policy and regulatory environment, while the private sector drives implementation, innovation, and investment.
The push for the forum comes as many African countries, including Ghana, intensify efforts to promote industrialisation, expand regional trade under the African Continental Free Trade Area (AfCFTA), and create jobs through increased local production.