Dr. Johnson Pandit Asiama, Governor of the Bank of Ghana, has advocated for a paradigm shift in Africa-US relations.
He urged both parties to shift from transactional trade to a model of co-creation that prioritizes innovation, equity, and long-term development.
The finance expert made this call while delivering a keynote address at the African Leaders & Partners Forum on Tuesday, April 22 at the Embassy of Ghana in Washington, D.C., themed, “Africa & the U.S.: Shaping a Trade-Driven Future.”
“Let us shape a future where Africa and the U.S. are not just trading partners—but co-creators of prosperity. Where American innovation meets African ingenuity,” he said.
Dr. Asiama also expressed worries about the uneven nature of the Africa-US trade relationship, which is dominated by raw material exports with little value addition.
For example, he highlighted Nigeria’s $2.2 billion in 2024 exports to the United States, with crude oil accounting for 65% of that total.
“This relationship must move beyond access and aid—toward strategy, equity, and co-creation,” the Governor stated.
He contended that trade, in its current form, has not fully realized the revolutionary potential of the Africa-US alliance.
Citing Ghana’s own experience under the African Growth and Opportunity Act (AGOA), Dr. Asiama stated that the country has achieved trade surpluses and diversified exports ranging from oil and cocoa to textiles and handicrafts, but emphasized that numbers alone do not tell the whole picture.
To propel this transition, Dr. Asiama advocated four pillars: macroeconomic credibility, resilient financial systems, stronger trade integration, and inclusive digital transformation.
