President John Mahama has called for a new developmental path for Africa, urging leaders to move away from dependency and take collective responsibility for the continent’s future.

Addressing global political and business leaders at the Accra Reset Davos Convening Event on the sidelines of the World Economic Forum on Thursday, January 22, President Mahama said Ghana’s recent economic recovery shows that focused and accountable leadership can deliver results.

However, he warned that progress in one country alone is not enough.

“Today, in Ghana, we’re answering that question,” the President said, referring to global concerns about whether democracy can still deliver meaningful change. “We’re resetting our country, cutting waste, restoring hope, and building systems that work.”

He said that within his first year back in office, his administration has demonstrated that democratic governance can work when leaders remain accountable to the people.

“From a debt-distressed, crisis-ridden economy, we have achieved an impressive turnaround,” President Mahama said.

He pointed to “a stable macroeconomy characterised by single-digit inflation, a strengthened currency, and increased business confidence” as signs of recovery.

However, the President said that Ghana’s success must not stand in isolation.

“However admirable Ghana’s turnaround story is, we cannot be a jewel in the dirt. We must work together as Africa. We must knit together the patchwork of success stories.”

President Mahama explained that this was the reason Ghana was engaging global partners at Davos, to expand successful policies beyond national borders.

“That’s why we’re here in Davos. To take what’s working across many countries in Africa and the Global South and scale it across other countries. To move from resetting one country to resetting the entire development model.”

He warned that many African countries remain trapped in what he described as a “triple dependency”.

“We depend on others for our security choices. We depend on donors for our health and education systems. And we supply the world’s critical minerals but capture almost none of the value. This isn’t sovereignty. It is a trap. And it is getting worse.”

On global challenges, President Mahama said moments of crisis often bring clarity.

“The clarity is this: we must build our own capacity to act,” he stated.

He recalled how decisive global leadership once helped Africa overcome the HIV/AIDS crisis.

“Twenty years ago, UN Secretary General Kofi Annan and several courageous world leaders made a simple, powerful case. That courage created the architecture of the Global Fund, which saved millions of lives.”

President Mahama expressed concern that global cooperation is now weakening, citing funding cuts to international organisations. “We face an unpredictable world. This is why Africa must be responsible for its destiny.”

He said that Africa is now facing a different kind of crisis, what he called “the pandemic of unfulfilled potential”.

“Millions of young people have no jobs. Health systems collapse at the first crisis. Economies extract our resources but build nothing lasting,” he said, questioning why the world cannot mobilise against poverty and dependency with the same urgency used to fight disease.

Turning to domestic reforms, President Mahama said Ghana is demonstrating that action matters more than rhetoric.

“In Ghana, we’re proving something important: execution beats excuses,” he said. He revealed that his government has cut public spending and reduced the size of government to “a record low of 58 ministers and deputy ministers.”

He added that the country is digitising public services to tackle corruption, retraining young people for future jobs, and renegotiating debt to prioritise investment in citizens rather than loan repayments.

“This is the ‘Resetting Ghana’ agenda. And it’s working because we stopped talking about transformation and started building it,” President Mahama said.