THE President of the African Development Bank Group (AfDB), Dr Akinwumi Adesina, has warned that sweeping new US tariffs could cause severe economic disruption across Africa, devaluing currencies, driving inflation, and deepening debt in nearly every part of the continent.
In an exclusive interview with CNN’s Christiane Amanpour, Dr Adesina said 47 of Africa’s 54 countries would be directly affected by Washington’s protectionist trade policies under President Donald Trump.
‘When those currencies weaken, two things will happen,’ he noted. ‘First, you’re going to find that high inflation becomes a problem. Secondly, the cost of servicing foreign currency debt in local currencies is going to worsen.’
At least 22 African nations are now facing tariff increases of up to 50 percent on nearly all their exports. Countries hardest hit include Lesotho, Madagascar, Mauritius, Botswana, Angola, Algeria, and South Africa.
Aid cuts compound economic blow
The tariffs coincide with major cuts to USAID programmes, which have already begun to impact the delivery of essential medical supplies and humanitarian services across the continent. According to Adesina, this combination of protectionism and reduced aid threatens to upend Africa’s economic trajectory and reshape its global alliances.
Despite the damage, Adesina warned against a confrontational approach. Africa, he said, accounts for just 1.2 percent of total US trade—around $34bn—with a modest surplus of $7.2bn.
‘Africa must pursue a three-pronged strategy,’ he urged. ‘Engage the US through flexible and constructive negotiations, diversify export markets, and fast-track the African Continental Free Trade Area (AfCFTA) to unlock our $3.4tn internal market.’
He also emphasised the importance of boosting domestic demand by increasing savings and investments. Africa, he added, must also leverage its strategic resources—including lithium and cobalt—to secure fairer trade and investment deals.
‘We’re building bridges, not blocs’
Amid speculation that Africa might pivot more decisively toward China, Adesina made it clear that the continent is not seeking binary alignments.
‘The US is a key ally of Africa—and so is China,’ he said. ‘Africa is building bridges, not isolating itself.’
He called for partnerships that are ‘transparent, fair, equitable, and led by Africa, in Africa’s interest’, stressing that balanced diplomacy remains central to Africa’s future.
As he prepares to leave office in September at the end of his second and final term, Adesina strongly rejected the notion that Africa’s development should remain aid-dependent. ‘The era of aid as we’ve known it is over,’ he stated. ‘We need concessional financing to unlock private capital and derisk transformative projects.’
Africa’s untapped potential remains vast
Adesina highlighted Africa’s evolving growth story: though it represents under 3 percent of global GDP, the continent houses nearly 20 percent of the world’s population—and 10 of the globe’s 20 fastest-growing economies.
The AfDB has invested over $55bn in infrastructure over the past decade, making it the largest financier of development projects on the continent. Its ‘High 5’ agenda—focusing on energy, food, industrialisation, integration and quality of life—has impacted over 565 million lives.
One of its most ambitious initiatives, Mission 300, aims to connect 300 million Africans to electricity by 2030 in partnership with the World Bank. ‘Without electricity, what can you do?’ Adesina asked. ‘You can’t industrialise, you can’t add value—you can’t be competitive in the dark.’
He also celebrated the achievements of the Africa Investment Forum, launched in 2018 with eight partners. Since inception, the platform has mobilised more than $225bn in investment interest, advancing bankable projects and driving deals to financial close.
Despite global shocks, Adesina remains bullish. ‘Africa is the world’s biggest greenfield investment destination. We’ve got hydropower, a massive youth workforce, and 65 percent of the world’s remaining arable land,’ he said. ‘What Africa does with it will determine the future of food in the world.’
