Ghana has called on African countries to accelerate economic integration by supporting African-owned businesses and financial institutions capable of driving trade and investment across the continent.
Delivering President John Dramani Mahama’s address at the opening of First Atlantic Bank Liberia in Monrovia on Friday, July 31, 2026, Deputy Finance Minister Thomas Nyarko Ampem said Africa’s next phase of integration must be driven by investment, trade and strong regional institutions rather than politics alone.
“The generation of Kwame Nkrumah and William Tubman dismantled political barriers. Our generation must remove economic barriers,” he said.
Mr Ampem said finance remains a critical foundation for regional integration, explaining that while roads connect people, ports facilitate trade and digital networks move information, banks help move opportunities across borders.
He argued that businesses operating within West Africa should have seamless access to banking services regardless of national boundaries.
“A Liberian entrepreneur arriving in Accra, or a Ghanaian businessperson landing in Monrovia, should be able to walk into a First Atlantic Bank branch with the same confidence they would at home,” he said.
The Deputy Minister noted that although the Economic Community of West African States (ECOWAS) has a population of more than 400 million people, only about 12 percent of trade occurs within the region.
He described the situation as one of Africa’s biggest untapped economic opportunities.
Mr Ampem also highlighted the potential of the African Continental Free Trade Area (AfCFTA), which connects 54 countries, 1.4 billion people and a combined economy valued at more than US$3.4 trillion.
He cited World Bank projections indicating that full implementation of AfCFTA could increase intra-African exports by about 81 percent by 2035 through reduced trade barriers, improved trade facilitation and stronger regional value chains.
According to him, financial institutions such as First Atlantic Bank have an important role to play in unlocking these opportunities by providing financing, facilitating payments and supporting cross-border investments.
He added that the expansion of African-owned banks across the continent reflects a growing confidence in Africa’s ability to finance its own development and build stronger economic partnerships.
First Atlantic Bank expands into Liberia as Ghanaian banks pursue regional…
