Money Follows Trust’ — Dangote Commends Mahama for Ghana’s Economic Turnaround
Africa’s richest man and business magnate, Aliko Dangote, has commended President John Dramani Mahama for what he described as a rapid turnaround of Ghana’s economy, saying the restoration of investor confidence has been critical to the country’s economic recovery.
According to Mr Dangote, the developments under President Mahama demonstrate the strong link between trust, sound economic management and the willingness of investors to commit capital.
Speaking at the “Accra Reset: Full Circle – Making Global Development Work Again” convening in New York on the sidelines of the 81st United Nations General Assembly (UNGA81), Mr Dangote said President Mahama had taken the right steps to stabilise the economy within a relatively short period.
President Mahama turned around the economy of Ghana in a very short time. It wasn’t a very good case, but when he came in, he didn’t do any magic, but he did the right things,” Mr Dangote said.
He further stressed that investor confidence had played a significant role in the economic turnaround, noting that capital tends to flow towards environments where investors have confidence in leadership and economic management.
“This has actually shown that money follows trust,” the business magnate said.
Mr Dangote added that President Mahama was not a magician, but had taken measures that, in his view, had restored trust among investors.
“He didn’t do any magic. He’s not a magician, but he did the right things, and people really have a lot of trust in him, and that’s why Ghana’s economy turned around,” he said.
The comments were made during the high-level Accra Reset convening, which brought together political leaders, business executives and development stakeholders to discuss global development and Ghana’s economic trajectory.
Mr Dangote’s remarks come as the Mahama administration continues to highlight economic stabilisation and renewed investor confidence as key pillars of its Resetting Ghana Agenda.
The government has pointed to developments including easing inflation, improved fiscal conditions, currency stability and stronger foreign-exchange reserves as indicators of economic recovery.
For Mr Dangote, Ghana’s experience underscores the importance of rebuilding confidence as governments seek to attract private capital and create conditions for sustainable economic growth.
He also used the occasion to call for stronger economic integration across Africa, particularly through greater freedom of movement for people, goods and services, arguing that restrictions continue to impede intra-African investment and trade.
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