The shifting priorities of advanced economies amidst an increasingly unpredictable geopolitical environment has forced global south countries to rethink their engagement with those advanced economies. The year 2009 marked a turning point as five emerging powers from the global south namely, Brazil, Russia, India, China and South Africa came together to form BRICS as an answer to the Bretton-Woods establishment and G7 with an emphasis on multilateralism. However, the seeming threat of disruption by BRICS to the global order became pronounced in the events following the coronavirus pandemic and Russia’s special military operation in Ukraine in 2022. Further, imposition of trade tariff on goods entering the United States by the government and withdrawal of aid to developing countries with the closure of the United States Agency for International Development (USAID) by the US President Donald Trump in 2025 served as a wake-up call to recipient countries most of which are based in Africa.
The Accra Reset initiative proposed by the President of Ghana, John Dramani Mahama, during his participation of the United Nations General Assembly last September seeks to answer the question, what should Africa’s response be in a changing global order? Presenting the initiative in front world leaders at the ongoing World Economic Forum being held in the Swiss ski resort of Davos on Thursday, President Mahama called on his colleague leaders from the global south to stand together in departing from an era of foreign aid dependency that has rather weakened systems inhibiting progress of the aid dependent countries. According to him, too many countries have been caught in a “triple dependency” that they depend on western powers for the security of their own citizens.
“And that is why we are here in Davos today. To take what is working across many countries in Africa and the Global South and scale it up across other countries. To move from resetting one country to resetting the entire development model for the Global South. And let me be direct about what we are up against. Too many of our countries are caught in what I call the triple dependency. We depend on others for our security choices. We depend on donors for our health and educational systems. We supply the world’s critical minerals but capture almost none of its value. This isn’t sovereignty, it’s a trap. And it’s getting worse”, he said
Just like the UN in partnership with world leaders established the Global Fund to tackle the HIV/AIDS epidemic some 20 years ago, the Accra Reset initiative, which was adopted from Ghana’s own reset agenda that has started delivering an impressive turnaround of a stable macroeconomic environment that is characterised by single-digit inflation, strong currency, and increased business confidence from a debt-distressed, crisis-ridden economy. Again, with the Accra Reset forged by a new coalition of the willing that is based on a shared vision and mutual respect for each other, African countries will negotiate on natural resources together; build reach-down manufacturing hubs that create millions of jobs, and produce vaccines using technology built by Africans among others.
“This is the Accra reset vision. It’s not a talk shop. It’s not a declaration. It’s a practical blueprint for how countries can work together to build real sovereignty, the kind that you can measure in jobs created, in children at school, children vaccinated, and young people thriving.”
“The Accra Reset is building the architecture for a new kind of cooperation. One where global South countries don’t just receive programmes, but co-design them with our partners in the global North. Where we don’t just attract investment, but shape it around what are our priorities. We want to create prosperity shares across regional platforms, where countries coordinate on investments, infrastructure, and jobs. President Obasanjo often reminds me that leadership is about legacy. And he asks me, what will you leave behind? My answer is simple. We want to leave a continent where young people don’t risk their lives crossing the Mediterranean because they will have opportunities at home. We want to leave systems that work, industries that thrive, and nations that stand tall. And in this, Ghana cannot do it alone. Africa can’t do it alone. This is a call to every leader in this room. If you believe in a world where prosperity is shared, not just based on narrow interests, then join us,” Mr. Mahama emphasized.
The President assured the gathering of formally tabling the initiative at the Africa Union in February at the next meeting of the authority of heads of state and government in Addis Ababa as he continues to reach across the aisle to build partnerships for a shared growth and prosperity.