{
  "id": 3508510,
  "title": "Africa cannot industrialise a continent the world considers too risky to power – Ato Forson",
  "url": "https://urgent.news/2026/08/26/africa-cannot-industrialise-a-continent-the-world-considers-too-risky",
  "topic": "world",
  "section": "World",
  "published": "2026-08-26T12:30:45.000Z",
  "source": {
    "name": "GBC Ghana",
    "slug": "gbc-ghana",
    "url": "https://www.gbcghanaonline.com/news/business/africa-cannot-industrialise/2026/"
  },
  "original_language": "en",
  "account": "Dr. Cassiel Ato Forson, Ghana’s Minister of Finance, has warned that Africa's efforts to establish a battery and clean energy industrial base will be unsuccessful unless the continent moves away from its raw export model and improves its macroeconomic fundamentals. Speaking at the 2026 Future of Energy Conference (FEC) in Accra, Forson emphasized the need for a fundamental shift in mindset for the continent to transition from importing batteries to producing them. He argued that this transformation begins with macroeconomic stability, which is essential for attracting high-value production, including batteries for electric vehicles and energy storage. Forson highlighted the challenges facing African industry, such as inflation, volatile exchange rates, high interest rates, unsustainable debt, and fiscal indiscipline. He cited Ghana's recent economic improvements, with inflation dropping from 23.8% to 4.6% in 2026, as evidence that a stable macroeconomic environment can be achieved. However, Forson stressed that stability is merely a launchpad for transformation, not the destination itself. He called for Africa to tackle energy poverty, which affects about 600 million people, while the continent only receives around 2% of global clean energy investment. To facilitate energy investment, Forson proposed building efficient utilities, implementing predictable regulation, and creating credible opportunities for private investors. He also stressed the need for long-term financing, as Africa's debt service costs were equivalent to over 85% of the continent's total energy investment in 2025. Forson emphasized that Africa's resources should become industrial inputs rather than mere raw materials for exports. He urged Africa to industrialize as a single market rather than 54 fragmented economies, leveraging the African Continental Free Trade Area (AfCFTA) to transform trade from exporting raw materials to producing what the continent trades in.",
  "summary": "By Samuel Ayammah Ghana’s Minister of Finance, Dr Cassiel Ato Forson, has declared that Africa’s quest to build a battery and clean energy industrial base will fail unless the continent abandons its raw export model and fixes its macroeconomic fundamentals. Dr Forson made the remarks at the 2026 Future of Energy Conference (FEC), organised by […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}