Africa’s richest man and President of the Dangote Group, Aliko Dangote, has publicly commended President John Dramani Mahama for what he described as a rapid turnaround of Ghana’s economy.
Speaking at the “Accra Reset: Full Circle – Making Global Development Work Again” event in New York on September 21, 2026, on the sidelines of the 81st United Nations General Assembly, Dangote said:
“Let me first of all appreciate and congratulate my brother, His Excellency President John Mahama, for actually turning around the economy of Ghana in a very, very short time.”
He went further to explain what he believed was behind the improvement, saying Mahama “didn’t do any magic” but “did the right things,” which, in his view, helped restore confidence among investors.
Dangote’s central point was summed up in his statement:
“This has actually shown that money follows trust.”
What does Dangote mean by “economic turnaround”?
The remarks come against the backdrop of several economic indicators that have improved since the severe economic pressures Ghana faced in 2022–2024.
According to Ghana News Agency reporting, inflation fell from about 23.8% at the end of 2024 to 5.4% at the end of 2025 and 3.2% in March 2026. Economic growth also rebounded to approximately 6–6.3% in 2025, while gross international reserves increased to about US$13.8 billion, compared with US$9.1 billion at the end of 2024.
The Bank of Ghana’s latest monetary-policy assessment in September 2026 also described the economy as having “turned a decisive corner,” citing inflation back within the target band, broadly stable exchange rates, stronger external buffers and signs of sustained real-sector recovery.
The government has also pointed to improvements in fiscal management, debt reduction, currency stability and investor confidence as evidence of the recovery.
The important context
Dangote’s statement is his assessment, rather than an independent economic verdict. But it is significant because he is one of Africa’s largest private-sector investors and entrepreneurs, and his comments specifically connected investor confidence, trust and capital flows.
The Mahama administration itself says the initial phase of its economic programme was focused on stabilisation—bringing inflation and fiscal pressures under control and restoring confidence—before moving toward job creation and structural transformation. The Finance Ministry describes this next phase as moving “beyond economic stabilisation towards job creation, wealth generation and sustainable growth.”
So, if you are writing this as a news/social-media piece, I would avoid presenting Dangote’s words as the definitive proof of Mahama’s performance. A stronger formulation is:
“Dangote’s endorsement adds the voice of a major African private-sector investor to the growing debate over Ghana’s economic recovery.”
Suggested social-media post
“To those asking: ‘What has Mahama achieved?’—listen to Aliko Dangote.
Africa’s richest man, Aliko Dangote, has congratulated President John Dramani Mahama for what he described as Ghana’s economic turnaround in a ‘very, very short time.’
According to Dangote, Mahama ‘didn’t do any magic’ but ‘did the right things’—restoring confidence and demonstrating that ‘money follows trust.’
His comments come as Ghana records significant improvements in key macroeconomic indicators, including falling inflation, improved reserves, stronger fiscal balances and a more stable cedi.
The next challenge is clear: turn macroeconomic stability into jobs, stronger businesses, higher incomes and tangible improvements in the lives of ordinary Ghanaians.
The recovery conversation continues—but this is certainly a significant endorsement from one of Africa’s most influential business leaders.”
