The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has called on African leaders to shift their focus from dependence on foreign aid and embrace innovative, self-sustaining economic strategies.
Speaking at the headquarters of the African Union in Addis Ababa, Ethiopia, the renowned developmental economist declared that Africa must change its mindset and begin to see opportunities within challenges, rather than waiting for external assistance.
“Access to aid—I think we can begin to think of it as a thing of the past,” Okonjo-Iweala stated, emphasizing the need for self-reliance in a world where traditional donor funding is dwindling.
The former Nigerian finance minister and ex-World Bank economist pointed out that Africa must learn to navigate the shifting tides of global economic policies, particularly in light of decisions by the United States and other Western nations to pause billions of dollars in funding for health and education projects.
She urged African leaders to be proactive in attracting investment, mobilizing domestic resources, and leveraging the continent’s vast potential to address socio-economic challenges.
“We must build resilience, create sustainable financing mechanisms, and take control of our own development,” she said, warning that relying on external aid is no longer a viable long-term strategy.
Her remarks come at a time when Africa faces economic uncertainty due to shifting international policies, including those from the administration of former U.S. President Donald Trump. With geopolitical dynamics evolving, Okonjo-Iweala’s call for homegrown solutions resonates as a crucial strategy for the continent’s economic survival and growth.
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