Africa's richest man and President of the Dangote Group, Aliko Dangote, has hailed President John Dramani Mahama for turning around Ghana's economy within a short period.
He said Ghana’s economic recovery proved that "money follows trust”; stressing that, it was a result of the trust and confidence and trust investors had in President Mahama.
Speaking at the Accra Reset meeting hosted by President Mahama on the sidelines of the 81st United Nations General Assembly in New York on Monday, September 21, 2026, Mr Dangote said.
Ghana's rapid improvement in investor confidence and macroeconomic stability was not the result of magic, but of right decisions.
"I congratulate President John Dramani Mahama for actually turning around the economy of Ghana within a short period of time. This shows that money follows trust," Dangote said.
"It wasn't a very good case but when he came in he didn't do any magic. He isn't a magician but he did the right things and people really have a lot of trust in him that's why Ghana's economy turn around," he told world leaders, investors and business executives gathered at the event.
Africa’s richest man credited President Mahama's leadership for restoring confidence at a time when Ghana is emerging from years of economic turbulence.
Background
Ghana's inflation, which peaked at 54.1 per cent at the end of 2022, has fallen sharply to low single digits in early this year, while the cedi appreciated by over 40 per cent against the US dollar in last year to become Africa's best performing currency last year, according to International Monetary Fund data. Gross international reserves have risen to $14.4 billion, and foreign direct investment jumped to an estimated $2.61 billion this year from $652 million in 2024.
The Accra Reset, convened by President Mahama, is aimed at repositioning Ghana as a hub for trade and investment under the African Continental Free Trade Area, whose Secretariat is hosted in Accra. The event brought together heads of state, UN officials and private sector leaders to discuss Africa's industrialisation, critical minerals and intra-African trade.
Call for continental reforms
Also, the Nigerian billionaire used called for reforms on the continent, urging African leaders to stop talking and act on free movement of people, goods and services.
"We really need to come together, because this is our continent and nobody will come to develop our continent for us. But the issues about visas and free movement of persons, goods and services; we've been talking about it for long and we need to stop talking and act now and make sure we allow the free movement of people," Mr Dangote said.
He questioned why it remains easier for Europeans to travel across Africa than for Africans themselves.
"I am always wondering why we don't allow ourselves to visit each other. Why should I invest, why do you allow Europeans to visit Africa much much easier than me as an African? It does not make sense."
Dangote indicated that security fears often cited by political leaders for restrictive visa regimes are misplaced, arguing that those who cause instability do not travel through airports.
"A lot of our own political leaders they've been scared by their own security agency. But Africans do not have the capacity to cause trouble more than somebody who is more enlightened. In Africa those who are trouble maker they don't need a visa they come through the borders with their attacks,” he stressed.
Investment
He called on African governments and the private sector to believe in the continent and invest in its young and vibrant population at a time when populations elsewhere are aging.
"So we have to get together and believe in our continent. We have to invest there; it is not only for us but it is for the future of the next generation. This is a young and vibrant generation and population and most of the population in other areas are aging. But the promise and potential that we have in Africa is enormous. But some of us are tired of talking about these potentials. We need to turn them into a reality,” he stated.
Mr Dangote also revealed that despite what he described as a "rough and tough eight years," his group has rolled out a massive investment plan focused exclusively on the continent.
"It has been a rough and tough eight years but now we've been able to roll out an investment of $46 billion between now and 2030 and that's across Africa and not anywhere outside of Africa because we believe in the future of Africa. This is the time we believe that Africa will be great and we see Africa rising."
Dangote, whose 650,000 barrels-per-day refinery has already exported over 456,000 tonnes of fuel to several African countries including Ghana, said Africa's industrialisation will not happen through policy declarations alone, but through large-scale African-owned production backed by African capital.
