As the United States escalates tariffs with widespread global impact, Dr. Akinwumi Adesina, President of the African Development Bank Group (AfDB), has raised alarm over the potential economic shockwaves facing African nations. The heightened trade measures, he warns, could destabilize economies across the continent and accelerate a global realignment in strategic partnerships.
In an exclusive conversation with CNN’s Christiane Amanpour, Dr. Adesina disclosed that 47 out of Africa’s 54 countries are expected to feel the direct effects of the new U.S. trade policies, including reductions in export revenues and foreign exchange buffers.
“When those currencies weaken, two things will happen: first, you will find that most of these countries are import-dependent. So, you're going to find that high inflation becomes a problem,” said Adesina. “And secondly, you find that the cost of actually servicing a lot of their debt, which is foreign currency debt, but in local currencies, is going to get worse.”
The Trump administration’s tariffs have already impacted nearly all African economies, with at least 22 countries facing tariffs as high as 50 percent on a broad range of products. Among the most affected are Lesotho, Madagascar, Mauritius, Botswana, Angola, Algeria, and South Africa.
These economic pressures are compounded by significant reductions in USAID funding, which have disrupted access to medical supplies and humanitarian services in several countries, raising fresh concerns about the stability of U.S.-Africa relations.
Africa’s Strategic Response
Adesina emphasized that Africa must avoid entering into a trade confrontation with the United States, noting that the continent’s share of U.S. global trade is minimal—just 1.2 percent (approximately $34 billion), with a modest surplus of $7.2 billion.
He outlined a three-pronged strategy for Africa: proactive and flexible engagement with the U.S., diversification of export markets, and expedited implementation of the African Continental Free Trade Area to leverage the continent’s $3.4 trillion market potential.
To build resilience, Adesina called for boosting domestic markets and increasing savings to drive internal consumption and reduce dependency. He also highlighted the opportunity for Africa to negotiate better trade and investment deals by leveraging its critical mineral resources, such as lithium and cobalt, amid growing global demand.
On the matter of global alliances, Adesina dismissed the narrative of a binary pivot toward China in response to U.S. trade actions. “U.S is a key ally of Africa—and so is China,” he stated. “Africa is building bridges, not isolating itself.”
He reiterated Africa’s desire for equitable and transparent global partnerships. “I think at the end of the day, we want to make sure that whatever deals that are being done with Africa are transparent, fair, equitable, and led by Africa and in Africa's interests,” Adesina reiterated.
Beyond Aid: Advancing Africa’s Economic Independence
As Dr. Adesina nears the end of his second term as Bank President this September, he underscored a shift away from traditional aid dependency. “The era of aid as we’ve known it is completely gone,” he stated, advocating for greater investment in infrastructure, domestic resource mobilization, and industrial development.
He encouraged a rethinking of aid as concessional finance—capital that empowers institutions like the African Development Bank to attract private sector investment and reduce risk in large-scale projects.
Although Africa makes up nearly 20 percent of the world’s population, it contributes less than 3 percent to global GDP. Still, Adesina pointed to a compelling growth trajectory: ten of the world’s twenty fastest-growing economies are located on the continent.
Under the Bank’s “High 5” agenda, over 565 million people have benefited from targeted investments in energy, food security, industrialization, regional integration, and improved quality of life.
With over $55 billion invested in infrastructure in the past decade, the Bank remains Africa’s largest financier of economic development projects. Adesina highlighted the potential of the Mission 300 initiative, developed with the World Bank, to connect 300 million Africans to electricity by 2030. “Because without electricity, what can you do? You can't industrialize, you can't add value, you can't be competitive in the dark,” he said.
He also pointed to the success of the Africa Investment Forum, which since its 2018 launch has attracted over $225 billion in investment interest. The platform fast-tracks projects to bankability and accelerates financial closure.
Despite global uncertainty, Adesina concluded with optimism. Africa, he argued, is the world’s premier greenfield investment destination. “The investor’s dream,” he said.
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