As president, he liberalized Ghana's economy, encouraging investment in the oil and gold sectors. In 2001, he handed over power to John Kufour of the opposition party, who had defeated Rawlings' vice-president in the previous year's election. After stepping down, Rawlings remained a power broker in Ghanaian politics while serving in various international diplomatic posts, including as the African Union's representative in Somalia. "Africa has lost a stalwart of Pan-Africanism and a charismatic continental statesman," Moussa Faki, AU commission chair, said on Twitter For more news, visit sabcnews.com and also #SABCNews #Coronavirus #COVID19News on Social Media.