WTO Director-General, Dr. Ngozi Okonjo-Iweala, urges African leaders to focus on self-reliance and innovative funding solutions as global aid declines. Speaking at the African Union in Addis Ababa, she emphasized the need to attract investment, mobilize resources, and reduce dependence on external financial assistance for the continent’s growth.
In a recent statement at the African Union headquarters in Addis Ababa, Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), called on African leaders to shift their focus inward for financial solutions, urging the continent to seek new avenues for growth in light of dwindling aid.
Okonjo-Iweala suggested that the time of relying on aid should be considered a thing of the past. Drawing from her vast experience as a former Nigerian finance minister and World Bank economist, she stressed that Africa’s future depends on innovating within the continent rather than depending on external funding. Her comments came in response to the recent freeze of billions in US global funding for health and education programs, which had been heavily impacted by policies under former President Donald Trump.
She urged African leaders to be proactive in attracting investment and mobilizing resources to overcome the economic and social challenges currently facing the continent. According to Okonjo-Iweala, Africa must harness its potential and explore opportunities within its borders to survive the global financial constraints that have limited aid availability.
While addressing the complexities of the situation, Okonjo-Iweala emphasized that, despite the challenges, the continent’s rich resources and growing population provide fertile ground for innovation and self-sufficiency. With her call for a change in mindset, she encouraged African nations to build sustainable futures by empowering local industries, fostering innovation, and diversifying their economies.
