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Time of India
5 days ago
- Business
- Time of India
WTO must protect African interests: CUTS International dialogue
The WTO is a critical multilateral rules-based forum to promote and protect the trade interests of all countries, especially the African low-income countries, in the world, and it must be revitalised at all costs, said Pradeep S. Mehta, Secretary General of CUTS International . CUTS convened a high-level informal dialogue with African Ambassadors to the World Trade Organization (WTO) at the Palais des Nations, Geneva on 9th July. Mehta, an NGO Adviser to the DG, WTO, chaired the meeting. Explore courses from Top Institutes in Select a Course Category Degree Leadership MBA Finance MCA Data Analytics Technology Public Policy Healthcare Product Management PGDM Data Science Project Management Data Science Design Thinking others Others healthcare CXO Artificial Intelligence Cybersecurity Digital Marketing Management Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details The closed-door session focused on reforms to the multilateral trading system, the operationalization of the African Continental Free Trade Area ( AfCFTA ), Africa's strategic role within the G20, and preparations for the 14th WTO Ministerial Conference (MC14) to be hosted in Cameroon in March, 2026. The deliberations captured the continent's resolve to navigate a complex geopolitical environment and assert its developmental priorities on the world stage. Multilateral Trading System in a Fractured World A recurrent theme was the increasing fragility of the multilateral trading order. Participants expressed deep concern over the rising trend of economic unilateralism, particularly the imposition of arbitrary tariffs by dominant global actors. This threatens to further fragment global trade by pushing countries—especially vulnerable African states—into precarious bilateral deals that are often skewed against their interests. The erosion of predictability and stability in the WTO system, largely due to the disengagement of some major economies, was viewed as a direct threat to investment flows and long-term development planning. Participants were unequivocal in their call for a revitalized, rules-based multilateral system—one that does not hinge on the whims of any single power. Yet, there was caution against retaliation. The disengagement of any single country should not dictate the future of the trading system. Instead, African countries were urged to champion reforms that democratize decision-making and prioritize inclusivity and development. AfCFTA: From Aspiration to Implementation The African Continental Free Trade Area (AfCFTA) featured prominently throughout the session. Several interventions emphasized that the agreement must move beyond high-level policy to tangible, ground-level impact—particularly for small businesses, women, and youth. There was strong consensus that the private sector must be placed at the heart of AfCFTA's implementation strategy. Ongoing initiatives, including national training workshops, online capacity-building platforms, and the establishment of a private sector facilitation framework, were cited as promising steps. The critical challenge now is ensuring that these tools translate into real trade opportunities. The connectivity deficits—both digital and physical—were seen as major bottlenecks that require urgent investment and regulatory coordination. Moreover, participants highlighted that AfCFTA must cohere with regional economic community frameworks to avoid duplication and disintegration. Investment Facilitation and Economic Sovereignty There was unanimous agreement that Africa's development hinges on attracting sustainable and strategic investment. The WTO's Investment Facilitation for Development (IFD) Agreement was viewed by many as a pragmatic entry point—though concerns about legal integration and sovereign space were noted. It was emphasized that investment and services policies must be approached as two sides of the same coin. With two-thirds of global FDI flowing into services, African governments were encouraged to align regulatory environments accordingly, especially in sectors like telecommunications, logistics, and agri-processing. The call to attract investment reflected an urgent development imperative amid declining aid and mounting public finance constraints. A Critical Opportunity for Africa The upcoming MC14, to be hosted in Cameroon, was framed as a historic moment for the continent. With agriculture, food security, and WTO reform on the agenda, African countries must arrive at the conference with a unified, actionable agenda. Particular emphasis was placed on securing outcomes on public stockholding, special safeguard mechanisms, and industrial policy flexibility. Participants urged that MC14 must not only acknowledge Africa's unique developmental needs but also advance them through concrete institutional reforms—especially around the Dispute Settlement Mechanism and Special & Differential Treatment. Leveraging the G20: From Presence to Influence While the African Union's recent admission to the G20 was applauded, it was made clear that mere presence does not guarantee influence. Effective participation requires preparation, coordination, and an unwavering commitment to championing the continent's priorities—particularly in digital trade, infrastructure, and MSME development. Some voices were sceptical of the G20's utility, citing its historical disconnect from WTO deliberations. Others, however, emphasized the opportunity for Africa to engage proactively—especially with the AU now at the table. The upcoming G20 summits hosted by South Africa and potentially the US were viewed as tests of whether Africa can shape the global trade narrative rather than merely respond to it. The meeting closed with a stark yet empowering message: Africa must stop waiting for others to define the system. The continent's strength lies in forging coalitions, acting decisively, and learning by doing. The rules-based system must be preserved—not in spite of the challenges, but because of them. Indeed, the most thought-provoking insight may have been the call to stop treating the United States' disinterest as a veto on multilateral progress. The session was attended, among others, by Jeremiah Mangewa (South Africa), Amb. Brian Glover (Mauritius), Hamid Mamdouh (Senior Counsel), Rajesh Aggarwal (Visiting Professor, ICRIER), Amb. Urujeni Bakuramutsa (Rwanda), Lily Sommers (ITC), Ms. Mpho Michelle Mogobe (Botswana), M. Thomas Ndongo (Cameroon), Mr. Pradeep S. Mehta (Secretary General, CUTS International), Suddha Chakravartti (Director, CUTS International Geneva), Peter Maundu (Research Associate of CUTS), and Mritunjai Kapila (Ontern).
IOL News
14-07-2025
- Business
- IOL News
Groundhog Day within A Bipolar World, But A New Economic World Order for Africa: A Crucial Opportunity To Propel the African Continental Free Trade Area
Dr Dawn Isabel Nagar discusses the challenges and opportunities facing Africa in a bipolar world, highlighting the potential for the African Continental Free Trade Area to drive economic growth and development. Image: IOL / Ron AI By Dr Dawn Isabel Nagar, University of Johannesburg, South Africa The world has become like Groundhog Day with the old issues infused with the new ones – a deja vu – an unfortunate reality, a serious hopelessness, which will certainly not reach the United Nations (UN) 2030 Global Sustainable Development Goals (SDGs) Agenda, fast becoming a pipe-dream. Amid the sea of chaos, is an emergence of a new economic world order, provided to Africa, a great opportunity to use Putman's two-level game theory to its advantage ; see also Nagar, 'UN-AU Relations: Towards Sustainable Peace and Economic Development: The Attainment of Agenda 2063' in, African Union and Agenda 2063: Past, Present and Future Matlosa and Adeola, eds., UJ Press, 2025. The world's ongoing wars clearly shows a pattern of economic deluge, particularly for least developed and developed states. The severity of economic impacts is continuing – with an ever-evolving amoeba effect – changing shapes –shape-shifters, but always the same issues at play. Currently: the world is facing a dangerous bipolar world order, where superpower rivalry of the world's largest economies: China and the US is competing for power. The US is determined to uphold its slogan of 'making America great again'. Greed and grievance are placing Israel and the US at the forefront of how global order ought to flow in defiance of multilateralism. Globally, multilateralism is to move states and societies across boundaries: criss-crossing trade, politics and security – the world is supposedly to be interconnected. But the UN 1945 Charter with all its critical organs is stifled and severely challenged. Several policies are closing borders while others display dangerous schizophrenic state behaviour. Geopolitics are displaying danger to world order. Such behaviours are demonstrated in great appetites to expand and gobble up countries, for example (the case of Canada against the US, 2025). Similarly, the same superpower is displaying double standards and shouting 'racism' and land-grabbers. Such are the false accusations made against South Africa, accusing the country of expelling their White farmers. A dangerous rhetoric promoted by a superpower's attempts to destroy a peaceful South Africa (the case of South Africa against the US, 2025). Africa must not be swayed by world chaos. Particularly with a country such as South Africa that has transitioned from a devastating apartheid past into a peaceful democracy and boast a government of national unity. Africa must unite against barbaric behaviours and hold fast to it its democratic principles and be determined not to import racism. These are all done in attempts to derail Africa's powerhouse: South Africa. This country has great leverage to elevate the African Continental Free Trade Area (AfCFTA) with other strong industrialised Africa economies, such as the Seychelles, Mauritius, Egypt, Nigeria, Kenya, Rwanda, Ghana and among others, particularly at the forthcoming Group of Twenty States (G20) November 2025 summit. Africa's key instrument is a crucial pillar – a contemporary club in hand –– the African Continental Free Trade Area: and can drive its own agenda of greater value-addition and industrialisation among its 55 member states. This new economic world order is coming as a great opportunity to Africa's advantage and challenge this international disorder and to oppose neo-colonialist, neo-mercantilist, neo-realist and racist policies of the superpowers such as the US, (which will soon turn realism to its own demise) and to Africa's advantage. Video Player is loading. 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Advertisement Next Stay Close ✕ Africa's interdependency among and between states should become more and more reliant within the bloc. The fourth industrial revolution (4IR/4.0) and soon to enter Fifth Industrial Revolution (5IR/5.0) era, where artificial intelligence and technological advancements is moving at a tumultuous pace offers great opportunity for a youthful Africa (60 percent of its 1.4 billion people are youth). However, in a bipolar world order, when power dynamics and greed work against the stream – and while the world is going forward the dictates of realism is moving the world into the opposite direction, which is having catastrophic effects (and are growing at an exponential pace) within the international relations systems. As realism dictates: within the international relations discipline: powerful states will use their economic and military muscle to achieve their parochial interests at all costs, and in-so-doing such actions have consequences. These consequences mean the pursuit of wars, humanitarian disasters, the loss of millions of lives, internally displaced persons, and the increased numbers of economies plummeting – regardless: the interests of the realist state in its entirety takes preference. On Africa's part, the continent with the most least developed and poverty-stricken states in the world, just minutes into President Trump's presidency, had to experience the wrath of the Trump Administration's tariff hikes. President Trump indeed fulfilled his campaign promises that brought him into power (see particularly, Dr Dawn Nagar, <"How President Donald Trump's cutting off of SA's US funding helps Africa fight 'begging bowl syndrome">, Independent Online, March 2025; and 30 years of South Africa's Regional Economic Integration Role in Southern Africa and Its Attempt to Improve SADC's Regional Political Economy: Progress, Problems and Prospects, 1994–2024', Dawn Nagar, 2025 research paper, SAIIA forthcoming]). The AfCFTA must be the priority and top the agenda at the forthcoming G20 summit – the body which was established in December 1999 at a Berlin Conference – a crucial intergovernmental economic forum comprising 19 countries and two regional unions – the European Union (EU) and the African Union, which South Africa will be hosting in November 2025. South Africa must address its comparative advantage initiatives to South Africa's G20 theme: Solidarity, Equality, and Sustainable Development aligned to the AfCFTA. Africa's issues must be pursued with the correct trading partners at the G20 November 2025 Summit meeting in South Africa. Within a new economic world order and to become the game-changer, the AfCFTA must accurately address pressing continental-wide sustainable development gaps and challenges important to its people. The bloc must consider clear rules of engagement with strategic international partners. Africa has great potential, for example, North, West, Southern and East Africa are all oil crude petroleum producing countries with Africa comprising 7 countries of the 15-member of the Organisation of the Petroleum Producing Countries (OPEC) including: Algeria, Angola, Congo Brazzaville, Equatorial Guinea, Gabon, Libya, and Nigeria; these states must use their comparative advantage to build the AfCFTA. On South Africa's part, this country's automotive sector is not shallow and have the resources and research at hand to propel its automotive industry, .' To produce value-add industrialisation that considers climate change and the environment, require solid research and development knowledge that is clear and precise on how to capture and create carbon carriers and storage – and the University of Johannesburg has solid research-backing and leading on these issues. The AfCFTA must use academic muscle to propel Africa's continental goals at the 2025 G20 Summit. For example, the University of Johannesburg recently on 18 June 2025 ranked number one in South Africa and the African continent. UJ affirmed its global leadership in sustainable development, retaining a remarkable position #1 in South Africa and on the African continent. Also see 2025 Times Higher Education (THE) Impact Rankings released on, 18 June 2025. UJ is a leader in green hydrogen renewable energy; education, electrical and chemical engineering, automobile industry; law; neurodiversity; chemical engineering; health sciences; chemical sciences, actuarial sciences, sport and a robust alumni-base globally, and among other critical research and development initiatives. Taking into account who to engage with in trade is crucial within a new economic world order and to be the game-changer for the AfCFTA to address pressing continental-wide sustainable development gaps and challenges. Trade agreements must inculcate a multiplier effect in building small and medium-sized businesses through building cooperatives that can access stock exchange markets. South Africa's President Honourable Cyril Ramaphosa will indeed be handing over well-established reins to the next G20 Trump Administration presidency chairmanship – and indeed it will not be an unceremonious occasion – in matching the dots for our country with the African continental member states by using the AfCFTA as the anchor. (Please note: that these views are those of the author and not those of the University of Johannesburg). ** The views expressed do not necessarily reflect the views of IOL or Independent Media.
Al-Ahram Weekly
25-06-2025
- Business
- Al-Ahram Weekly
Egypt participates in Afreximbank forum in Nigeria to boost African trade ties - Economy
Central Bank of Egypt (CBE) Governor Hassan Abdullah is among 6,000 participants from over 80 countries attending the African Export-Import Bank (Afreximbank) forum, which opened its 32nd annual meetings in Abuja, Nigeria on Wednesday, focusing on trade, innovation, and South–South cooperation. The event, which runs from 25 June through 27 June, brings together central bankers, heads of state, investors, and economists, including African and Caribbean leaders. This year's meetings—held under the theme Building the Future on Decades of Resilience—come at a time of rising pressure on African economies to accelerate integration, attract investment, and deepen private sector engagement. Speakers include Nigerian President Bola Ahmed Tinubu, former President Olusegun Obasanjo, and African Union Commissioner Albert Muchanga. Also on the agenda are AfCFTA Secretary-General Wamkele Mene, business leaders Aliko Dangote and Tony Elumelu, and economists Jeffrey Sachs and Kishore Mahbubani. The meetings are expected to generate new partnerships and funding commitments across trade, infrastructure, and industrial development, particularly under the African Continental Free Trade Area. Organizers say upcoming announcements will focus on expanding cross-border payments, boosting Africa–Caribbean ties in trade and tourism, and formalizing private sector roles in shaping economic policy. Afreximbank will also elect a new president this week, ending the current leadership's 10-year tenure. Follow us on: Facebook Instagram Whatsapp Short link:
IOL News
29-05-2025
- Business
- IOL News
South Africa's Tshabalala is running in line up for Africa's next 'super banker'
Bajabulile Tshabalala Image: Social Media Five candidates are in the running to succeed Nigeria's Akinwumi Adesina as president of the African Development Bank (AfDB). They are: Bajabulile Swazi Tshabalala (South Africa) The AfDB has only ever been headed by men but Tshabalala aims to change that. The 58-year-old South African was until the end of last year a vice president at the bank and could emerge as a continuity candidate. "Africa is at an inflection point. It's time for bold leadership that turns vision into action. I'm ready to lead the AfDB towards a more integrated, resilient, and prosperous continent," she said last month. Tshabalala wants to accelerate infrastructure development, boost private sector growth and make the AfDB more efficient. She argues that the bank must look beyond public funding to "smart finance". South Africa backs her candidacy but southern African unity could be split, as it had previously rallied behind Zambia's Maimbo. Amadou Hott (Senegal) Hott was Senegal's economy minister from 2019 to 2022 under the presidency of Macky Sall and until September last year was Adesina's special envoy for green infrastructure in Africa. But he is not necessarily a natural successor, as the position usually goes to a candidate from another region and the candidacy of Mauritania's Sidi Ould Tah will split the west African vote. In his pitch for the leadership, Hott, 52, has called for "a more inclusive, integrated and resilient Africa", positioning himself in particular as a supporter of AfCFTA, the African Continental Free Trade Area. He is also in favour of deepening relations with the private sector. Hott also wants to quicken the pace of investment in sustainable energy infrastructure using Africa's vast renewable resources. Samuel Munzele Maimbo (Zambia) Maimbo, 52, was most recently vice president for budget, performance review and strategic planning at the World Bank. He has also been chief of staff to World Bank presidents David Malpass and Ajay Banga. He will also have to contend with a split regional vote during the election, as South Africa -- one of the biggest AfDB's contributors -- is also fielding a candidate. But his experience at the World Bank could help him secure US support, which carries weight in the vote. Maimbo, who highlights 30 years of experience in development and finance, wants the AfDB to play "a leadership role" in supporting the many countries strangled by debt. Having grown up on a farm on the outskirts of Lusaka, he emphasises the importance of agricultural mechanisation and the development of the agro-industry. "Africa needs significantly higher rates of growth to successfully navigate today's development challenges and capture tomorrow's opportunities," he said in his mission statement. Sidi Ould Tah (Mauritania) Tah, who has headed the Arab Bank for Economic Development (BADEA) for 10 years, was the last candidate to declare. Several north African Arab states are members of the AfDB and if elected, his experience at BADEA could be a bridge with sub-Saharan Africa. He said in his mission statement that he had transformed BADEA into "one of the best capitalised and most highly-rated DFIs" (development finance institutions). He has vowed to strengthen regional financial institutions, assert Africa's financial independence on global markets, use population growth as a development lever and build climate change-resistent infrastructure. Tah, 60, is a former economy minister in Mauritania. Abbas Mahamat Tolli (Chad) Central Africa has never had a president of the AfDB but Tolli, a 53-year-old Chadian, could be its first. The former governor of the Bank of Central African States has served as a finance and infrastructure minister and is also proposing a transformative vision. He wants to achieve food sovereignty through sustainable agricultural investments, speed up financing for essential infrastructure, improve governance, promote renewable energies, and develop domestic financial markets.
The South African
26-05-2025
- Business
- The South African
B20 South Africa champions growth at Africa CEO Forum
The Africa CEO Forum this week became a powerhouse of bold ideas as Business 20 South Africa (B20 SA), the official G20 business engagement group, explored how the African Continental Free Trade Area (AfCFTA) can serve as a catalyst for industrialisation, investment and economic integration across the continent. QUIZ | Test your B20 knowledge with this 2-minute survey – AND WIN R2 000! Dr Anthony Costa, Head of the B20 South Africa Secretariat, together with fellow experts, delivered a powerful call to action during the 'Invest in South Africa' panel, urging a paradigm shift in how the world engages with Africa's development. In his remarks, Costa emphasised the importance of clear, actionable policy frameworks that enable sustained collaboration between governments and the private sector. He noted that B20 South Africa is currently driving a year-long process that convenes more than 1 500 global private sector leaders across eight Task Forces. The aim is to develop practical recommendations that align business efforts with government priorities to unlock inclusive growth, in a cooperating world. The panel also explored mechanisms to improve investor confidence in Africa's industrialisation agenda. Three core areas for action were outlined: establishing clear and trackable public-private partnership models, enhancing governance and transparency systems and addressing critical skills shortages through targeted development programmes. Deputy Minister of Trade, Industry and Competition Zuko Godlimpi added: 'President Cyril Ramaphosa has been adamant about cutting red tape to streamline company registrations and merger approvals in South Africa. 'We have strongly advocated to the Competition Commission for faster review and approval timelines. 'This is critical to facilitating smoother partnerships between South African and foreign businesses and ensuring investments in the country can flourish.' Costa stressed that improving policy certainty and governance standards is essential to creating an enabling environment for investment. On the question of Africa's role in mobilising global capital, Costa urged stakeholders to reframe the continent's investment narrative. 'Africa must move from being viewed through a risk lens to being recognised for its strategic opportunities,' he said. He also pointed to South Africa's G20 Presidency in 2025 as a strategic moment for the continent. Through B20 South Africa, the private sector has a direct channel to shape global economic priorities while ensuring African perspectives are embedded in that process. 'B20 South Africa is building a strong, credible platform to advance the continent's growth agenda,' he concluded. 'We are focused on delivering outcomes that are not only ambitious but practical and implementable by both business and government.' Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
