Africa deserves a balanced trade relationship with the United States and other economies based on mutual respect and benefit. But to achieve this, Africa must be given space to reform key aspects of its economy.
This was announced by Jason Miller, a communications strategist and advisor to US President Donald Trump. He was speaking at the African Export-Import Bank (Afreximbank) general meeting in Abuja, Nigeria.
Miller called Africa “the land of the future” and “a land of limitless growth” and said as this century progresses, the continent has an opportunity to redefine its trading relationships with the rest of the world and ensure it is never exploited again.
“All these changes have created a pivotal moment for Africa to seize opportunities. But if these opportunities are not taken advantage of, Africa and its people risk falling further behind. And if Africa is not strategic about how it takes these opportunities and who it chooses as its closest allies, the continent itself risks being taken advantage of.”
The Afreximbank shareholder meeting came at a time when President Trump announced a series of major tariffs: Section 232 tariffs aimed at protecting U.S. industry and “reciprocal tariffs” that were later suspended for three months.
The announced tariffs had the effect of nullifying the trade benefits of the African Growth and Opportunity Act (Agoa), a law that allows duty-free trade of certain items between the United States and the African continent. It is unclear whether the U.S. Congress will renew Agoa when it expires on September 30th.
Miller said the second Trump administration has moved rapidly to redefine the global economy, but the president recognized Africa’s advantages, including its minerals and young population.
“As you know, the global economy is changing rapidly. President Trump’s leadership has returned America to the world’s hottest country to do business. Technological advances in AI, energy, and many other areas are rapidly changing the future of our workforce.”
Miller singled out China, saying the US was offering Africa “something different” than “sloppy” companies that polluted African ecosystems and tied up African sovereigns with unsustainable debt. He said the United States and Africa can build a trade relationship characterized by “mutual respect.”
“As demand for natural resources increases, the critical minerals and rare earths that power the AI technology revolution are what Africa has and everyone wants. And, of course, Africa itself is growing rapidly. At a time when other parts of the world are facing population decline, the vast talent pool available in Africa will create new dynamics and change the balance of power now and in the coming years.”
But he said Africa’s advantages for the rest of the 21st century include that it is expected to surpass Europe in economic size and become the world’s third-largest economy by 2050.
“For these reasons alone, Africa deserves more. In fact, Africa can achieve more. And with the United States, everything is possible. But it is Africa and African leaders, you, who have to make the choices. And in fact, Africa has to make some choices to realize this success.”
He called on Africa to position itself for long-term success and reject loan and investment deals that create endless debt for the economy. He said fundamental issues such as peace, food sustainability, energy, infrastructure and other needs should not be off the table as Africa negotiates investments with the world.
“The second point I would like to raise, and I want to address this head-on, very frankly, is that in attracting these necessary investments, African countries must continue to make the necessary reforms to improve the business environment.
“(These are) eliminating corruption, enforcing contracts and the rule of law, (and) stabilizing currencies. This is not a wish list. This is exactly what is needed to generate the critical investment that Africa needs to reach its full potential.”
He reminded participants that the United States is home to the world’s No. 1 pool of capital, but said American capital is government capital and private capital, and that this capital “demands results” and “holds accountability.”
Repurposing his most famous client’s campaign slogan, Miller said: “Together we will make Africa strong again. Together we will make Africa rich again. Together we will make Africa strong again. Together we will make Africa proud again. Together we will make Africa safe again. And ladies and gentlemen, together we will make Africa great again.”
He praised the “courageous” move by the Nigerian government to fix the country’s currency, the Naira, as it would stabilize the economy and allow investment to flow in from the United States.
He urged Africa to “remember who our true friends are,” pointing to the United States’ efforts in humanitarian aid, peacekeeping operations and Ebola relief on the continent.
• Mr. Magubane was invited to the general meeting of shareholders as a guest of Afreximbank
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