By Ajay Wasserman
Pretoria, South Africa – 27/01/25 – US PRESIDENT Donald J Trump’s new policies on foreign aid and foreign engagement seem to be shaking and reshaping the world economic order. He is sending shivers down every spine used to dealing with the US and US foreign trade policies.
Ajay Wasserman, CEO of Fio Capital Group looks at how Africa can cushion themselves from the negative impacts of Donald Trump’s new policies.
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Donald Trump’s recent policy decisions have revealed a stark truth: Africa remains vulnerable to global political shifts.
From the reinstatement of the anti-abortion “gag rule” that disrupts reproductive healthcare, to the U.S. withdrawal from the Paris Climate Agreement, and the freeze on foreign aid, the implications for Africa are significant.
But here’s the opportunity: Is it time for Africa to take control of its future and build from within?
Here’s how we can chart a path towards self-reliance:
🔹 Boost Intra-African Trade
Through the African Continental Free Trade Area (AfCFTA), we can break down barriers, harmonise trade laws, and create a unified market. This means stronger GDP growth, enhanced infrastructure, and more opportunities for African businesses.
🔹 Invest in Local Manufacturers
Supporting local industries is key to reducing import dependency and driving job creation. Imagine a continent powered by “Made in Africa” goods that are globally competitive and locally impactful.
🔹 Lead in Renewable Energy
Africa has the resources to lead the renewable energy revolution. Investing in clean energy projects can reduce energy costs, increase access, and support large-scale development.
🔹 Promote Sustainable Agriculture
Food security starts with us. By investing in resilient agricultural practices and local food production, we can reduce imports and combat climate-related challenges.
🔹 Build Resilient Health Systems
With foreign aid in question, we need innovative financing and local partnerships to strengthen public health infrastructure and safeguard communities.
🔹 Empower the Private Sector
Economic philosophies like Africapitalism remind us that Africa’s private sector can transform the continent. By prioritising local investment, we can create jobs and generate lasting wealth.
This is our moment to shift from dependency to self-sufficiency. Africa’s resilience lies in its ability to empower local industries, strengthen trade, and invest in its people.
What’s your take? How can we come together to support our local manufacturers and shape a future of self-reliance for Africa? Let’s spark the conversation.
NB: Ajay Wasserman is the Group CEO and Chief Investment Officer of Fio Capital Group, a private family office and investment holding company focused on empowering entrepreneurs and driving sustainable growth and operating out of Pretoria, South Africa.
