Retired Colonel Festus Aboagye has strongly criticised African governments for their inability to effectively negotiate international agreements. He stated that Africa is consistently short-changed because its leaders fail to secure favourable terms in deals with foreign partners. This failure prevents the continent from fully benefiting from its abundant natural and human resources.
Colonel Aboagye made these remarks at the Students and Young Professionals Africa Liberty Academy (SYPALA) 2026. The event took place at the University of Professional Studies, Accra (UPSA). He stressed that having vast resources like gold, oil, and cocoa does not automatically give African countries influence. Instead, he argued, African nations export raw materials but capture only a small fraction of the final product's value. This situation highlights a critical gap in economic strategy across the continent.
This issue fits into a broader narrative of economic development challenges in Ghana and across Africa. Many African economies, including Ghana, rely heavily on exporting raw commodities. This reliance often means they miss out on the higher value added through processing and manufacturing. For example, Ghana is a major gold producer, but much of the processing happens elsewhere. This trend limits job creation and overall economic growth within the country. The lack of local processing capacity has been a long-standing concern for policymakers.
“Having resources is not the same as controlling the value those resources create,” Colonel Aboagye stated clearly. He further explained that Africa struggles to build the capacity needed to process its own resources. This means other economies benefit more from African raw materials. He also warned that a large youth population is not automatically an economic advantage. He cited Ghanaian nurses migrating abroad as an example of human capital benefiting other nations.
The implications are significant for Ghana's economic future and its standing in global trade. African governments must improve their negotiation skills to ensure resources serve national interests. This involves focusing on the specific terms of agreements rather than just securing a partner. Decision-makers must also consider the long-term economic impact of deals. This approach could lead to more beneficial partnerships and greater wealth retention within the continent.
Colonel Aboagye used Ghana’s dealings with Turkey over a power plant as a specific example of weak negotiation. He noted that Turkey provided the technology, while Ghana had the oil needed to operate it. However, he questioned whether Ghana secured the best possible terms in that agreement. This example underscores the need for careful scrutiny of all major contracts.
He further highlighted that the Africa Centre for Energy Policy (ACEP) was later involved in renegotiating the power plant deal. ACEP successfully reduced its cost, demonstrating the value of independent expertise. This shows that governments should consult independent organisations with technical knowledge. Such consultations can help ensure better outcomes for the nation.
Colonel Aboagye rejected the idea that Africa’s economic problems are solely due to foreign partners. He argued that Africa is short-changed because of its own internal weaknesses. He urged African governments to develop stronger negotiating institutions. They must also be more deliberate about what they seek from international partnerships. This shift in approach is crucial for economic sovereignty.
He also criticised political leaders who approach negotiations with narrow, self-serving interests. He stated that some officials focus on what their party or individual officeholders can gain. This often comes at the expense of Ghana's long-term national interest. Such practices undermine the country's ability to secure beneficial deals.
The retired military officer pointed out that Africa has a unique opportunity to improve its bargaining position. Several major global powers are competing for access to the continent’s resources, markets, and strategic influence. These include China, the United States, the European Union, Russia, and the Gulf States. This competition creates leverage for African nations if used wisely.
Foreign partners offer different combinations of capital, technology, and market access. In return, they seek resources, influence, or political support. Colonel Aboagye stressed that African countries must understand these diverse interests. This understanding allows them to negotiate from a position that maximises their own benefits. This strategic approach is vital for economic progress.