No country prospers on handouts – Akufo-Addo urges Africa to embrace self-reliance

Former President Nana Addo Dankwa Akufo-Addo has reiterated his call for African nations to break free from foreign aid dependence and focus on self-reliance through strategic partnerships and sustainable economic policies.

Speaking at the launch of former Nigerian President Ibrahim Babangida’s autobiography, Akufo-Addo stressed the need for African leaders to look inward for solutions rather than relying on external assistance.

“Too often, African nations look outside for solutions when the answers lie within our own borders,” he stated. “We must reject the notion that aid is the key to our development. No country has ever achieved lasting prosperity by depending on handouts.”

His remarks come at a time when Africa is grappling with economic challenges, including inflation, debt burdens, and global supply chain disruptions—issues exacerbated by the COVID-19 pandemic.

The former ECOWAS Chair called for a shift in focus towards intra-continental trade and investment, citing the African Continental Free Trade Area (AfCFTA) as a key driver of economic growth.

“If we are to move beyond our historical economic challenges, we must fully embrace the AfCFTA. Removing trade barriers and fostering economic integration will create the conditions necessary for sustainable growth,” he emphasized.

Akufo-Addo also warned against the long-term consequences of foreign aid, stating that it often comes with conditions that may not align with Africa’s best interests.

“Foreign aid is not free—it comes with conditions that may not align with our long-term interests. We must prioritize investments in our people, industries, and agriculture to ensure true self-reliance,” he asserted.

Addressing the importance of regional cooperation, he urged Ghana and Nigeria to set an example for West African economic independence.

“Ghana and Nigeria have demonstrated that when we work together, we achieve more. We share a history, a culture, and a responsibility to lead West Africa towards economic independence,” he noted.

Akufo-Addo encouraged both nations to deepen their partnerships in trade, energy, and technology, advocating for collaboration over competition.

In his closing remarks, he called on African leaders to take decisive action in shaping the continent’s future.

“Africa’s future is in our hands. With the right leadership, strategic investments, and a commitment to cooperation, we can build a continent that is prosperous, self-reliant, and respected globally.”