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<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="820" height="261" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/AFNIS-2025-Full-Logo-820x261.png" alt="" class="wp-image-613544" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/AFNIS-2025-Full-Logo-820x261.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/AFNIS-2025-Full-Logo-300x95.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/AFNIS-2025-Full-Logo-160x51.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/AFNIS-2025-Full-Logo-768x244.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/AFNIS-2025-Full-Logo.png 1067w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure></div>


ABUJA, NIGERIA – The African Natural Resources and Energy Investment Summit (AFNIS) is poised to return for its 4th edition in Abuja from July 15–17, 2025 at the State House Conference Centre, Presidential Villa. Hosted by the Federal Government of Nigeria — alongside key Ministries spanning Solid Minerals Development (designated as Chief Host), Steel Development, Petroleum Resources, Finance, Power, Environment, Foreign Affairs, and Industry, Trade &amp; Investment — AFNIS 2025 convenes under the pivotal theme: &#8220;Harnessing Local Content for Sustainable Development.&#8221;



Since its inception in 2022, AFNIS has rapidly grown into a premier platform, bringing together African ministers, global institutions, financiers, and industry leaders spanning the mining, oil &amp; gas, power, renewables, agriculture, and finance. The successful 2024 edition was officially opened by His Excellency Bola Ahmed Tinubu, GCFR, President of the Federal Republic of Nigeria, who was ably represented by His Excellency Kashim Shettima, GCON, Vice President of the Federal Republic of Nigeria. Following the summit’s opening, His Excellency Bola Ahmed Tinubu GCFR hosted a high-level meeting with a delegation of visiting African Ministers at the Presidential Villa, reinforcing the strategic importance of regional collaboration in advancing Africa’s natural resource and energy agenda.



AFNIS frequently brings together senior dignitaries from over 25 nations, along with executives from leading organizations such as the United Nations, ECOWAS, African Development Bank, World Health Organization (WHO), International Finance Corporation (IFC), Africa Finance Corporation (AFC), Development Bank of Southern Africa (DBSA), &nbsp;Sustainable Energy for All (SEforALL), the Africa Minerals Strategy Group, and the African Petroleum Producers&#8217; Organization.



The private sector is equally well represented, with participation from leading companies including BUA Group, Sabic, Engie, Société Nationale des Hydrocarbures (SNH), Nigerian Content Development and Monitoring Board, Saudi Aramco, Matrix Energy Group, Oando, Segilola Operating Resources Limited, Ganfeng Lithium, FG Gold, Woodcross Resources, Xcalibur Multiphysics, Victoria Falls Stock Exchange among others, highlighting AFNIS&#8217;s role as a premier meeting ground for Africa’s natural resources and energy industries.


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<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-1-President-Bola-Tinubu-is-greeted-by-a-delegation-from-AFNIS-2024-including-Ministers-from-Sierra-Leone-Liberia-Chad-Malawi-Uganda-and-South-Sudan-820x461.jpeg" alt="" class="wp-image-613540" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-1-President-Bola-Tinubu-is-greeted-by-a-delegation-from-AFNIS-2024-including-Ministers-from-Sierra-Leone-Liberia-Chad-Malawi-Uganda-and-South-Sudan-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-1-President-Bola-Tinubu-is-greeted-by-a-delegation-from-AFNIS-2024-including-Ministers-from-Sierra-Leone-Liberia-Chad-Malawi-Uganda-and-South-Sudan-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-1-President-Bola-Tinubu-is-greeted-by-a-delegation-from-AFNIS-2024-including-Ministers-from-Sierra-Leone-Liberia-Chad-Malawi-Uganda-and-South-Sudan-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-1-President-Bola-Tinubu-is-greeted-by-a-delegation-from-AFNIS-2024-including-Ministers-from-Sierra-Leone-Liberia-Chad-Malawi-Uganda-and-South-Sudan-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-1-President-Bola-Tinubu-is-greeted-by-a-delegation-from-AFNIS-2024-including-Ministers-from-Sierra-Leone-Liberia-Chad-Malawi-Uganda-and-South-Sudan-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-1-President-Bola-Tinubu-is-greeted-by-a-delegation-from-AFNIS-2024-including-Ministers-from-Sierra-Leone-Liberia-Chad-Malawi-Uganda-and-South-Sudan-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">President Bola Tinubu is greeted by a delegation from AFNIS 2024 including Ministers from Sierra Leone Liberia Chad Malawi Uganda and South Sudan</figcaption></figure></div>


Building on this momentum, AFNIS 2025 aims to be the &#8220;most impactful of all the editions,&#8221; according to AFNIS Co-Chair Suleiman Zakari. The organizers are &#8220;anticipating more participation from industry leaders, government officials, and investors as the platform has grown consistently&#8221;. The summit is honoured to once again have His Excellency Bola Ahmed Tinubu, GCFR, President of the Federal Republic of Nigeria, as the Guest of Honour declaring the summit open, and Dr. Oladele Alake, Honourable Minister of Solid Minerals Development, as the Chief Host.


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<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="820" height="508" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-2-Minister-for-Solid-Minerals-Development-Dr-Oladele-Alake-2-820x508.jpeg" alt="" class="wp-image-614766" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-2-Minister-for-Solid-Minerals-Development-Dr-Oladele-Alake-2-820x508.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-2-Minister-for-Solid-Minerals-Development-Dr-Oladele-Alake-2-300x186.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-2-Minister-for-Solid-Minerals-Development-Dr-Oladele-Alake-2-145x90.jpeg 145w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-2-Minister-for-Solid-Minerals-Development-Dr-Oladele-Alake-2-768x476.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-2-Minister-for-Solid-Minerals-Development-Dr-Oladele-Alake-2.jpeg 1440w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Minister for Solid Minerals Development Dr Oladele Alake</figcaption></figure></div>


A Vision Anchored in Local Content



The 2025 theme, &#8220;Harnessing Local Content for Sustainable Development,&#8221; goes to the heart of Africa&#8217;s economic aspirations. As the AFNIS Co-Chair notes, &#8220;we expect the summit to spotlight actionable strategies for transforming Africa’s resource wealth into sustainable economic growth”. &nbsp;AFNIS 2025 will champion an achievable vision where Africa&#8217;s immense natural resource wealth does more than drive exports; it actively fuels the growth of robust local industries and value chains.



This year, the focus is on promoting home-grown industries across mining, oil and gas, power, and renewables, enabling them to create integrated value chains while strategically embracing global partnerships for capital, &nbsp;technology transfer and capacity building. &nbsp;



The Cross-Sectoral Advantage: Building Bridges for Impact



Unlike many industry-specific conferences, AFNIS distinguishes itself through its unique cross-sectoral approach. It provides a vital platform where key players from mining, oil and gas, power, renewables, and finance converge to explore synergies and foster collaboration across the entire natural resource value chain.



This collaborative spirit is central to the AFNIS mission. &#8220;Our main motivation for AFNIS is really to provide a platform where we find sustainable solutions to our development challenges,&#8221; explains Suleiman Zakari, AFNIS Co-Chair. &#8220;We have tremendous wealth hidden in silos whether its the Oil and Gas sector or Nigeria compared to its neighbours, we want to build bridges for that wealth to be channelled and pooled for impactful change. That&#8217;s the mission and vision of AFNIS, that is why it brings different sectors and ministries together&#8221;.


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<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-3-Prof-Kevin-Chika-Urama-Vice-President-and-Chief-Economist-from-African-Development-Bank-dives-into-the-financial-state-of-African-natural-resources-1-820x547.jpeg" alt="" class="wp-image-614767" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-3-Prof-Kevin-Chika-Urama-Vice-President-and-Chief-Economist-from-African-Development-Bank-dives-into-the-financial-state-of-African-natural-resources-1-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-3-Prof-Kevin-Chika-Urama-Vice-President-and-Chief-Economist-from-African-Development-Bank-dives-into-the-financial-state-of-African-natural-resources-1-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-3-Prof-Kevin-Chika-Urama-Vice-President-and-Chief-Economist-from-African-Development-Bank-dives-into-the-financial-state-of-African-natural-resources-1-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-3-Prof-Kevin-Chika-Urama-Vice-President-and-Chief-Economist-from-African-Development-Bank-dives-into-the-financial-state-of-African-natural-resources-1-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-3-Prof-Kevin-Chika-Urama-Vice-President-and-Chief-Economist-from-African-Development-Bank-dives-into-the-financial-state-of-African-natural-resources-1.jpeg 1413w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Prof Kevin Chika Urama Vice President and Chief Economist from African Development Bank dives into the financial state of African natural resources</figcaption></figure></div>


Why Participate in AFNIS 2025? Unlocking Value Across Sectors



AFNIS 2025 offers compelling value propositions across the natural resources and energy spectrum. For Mining and Renewables players, it&#8217;s a prime venue to forge partnerships for local value addition – from refining minerals to manufacturing components like batteries and solar panels – and to gain insights into supportive policies and financing. Oil &amp; Gas participants can explore strategies for reinvesting revenues into sustainable infrastructure and cross-sector collaborations, balancing current demands with future energy goals.



The Power sector will find opportunities to develop integrated solutions crucial for industrialization and electrification. For the Finance industry, AFNIS serves as a strategic hub to discover and structure deals across multiple converging sectors; it represents a critical opportunity, as one CEO noted, for those seeking to actively shape and &#8220;own Africa’s next growth story, not just fund it passively.&#8221; By engaging with local content initiatives and cross-sector opportunities, financiers can secure new clients, deepen portfolios, and align their business models with a major shift in the continent&#8217;s investment landscape.



AFNIS: A Catalyst for Action and Impact AFNIS continues to serve as a crucial catalyst, translating dialogue into tangible outcomes. Initiatives born from previous summits demonstrate this impact. For example, the Africans for Africa (AforA) initiative — conceived at AFNIS 2024 to mobilize African industry and capital — will see the formal launch and first industry outing of its Fund at AFNIS 2025. Similarly, following a key partnership facilitated at AFNIS 2024 between Nigeria’s Ministry of Solid Minerals Development and SEforALL’s Global Council on Critical Minerals, AFNIS 2025 will feature the official unveiling of a major report, including findings from a Council-funded study on Nigeria’s mineral and renewable energy value chains. Beyond these milestones, AFNIS continues to drive high-level connections and transactions among participants. These successes underscore AFNIS’s role as an incubator for vital collaborations that are advancing Africa’s sustainable development.


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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-4-Vice-President-Kashim-Shettima-tours-the-exhibition-hall-greeted-by-exhibitors-1-820x547.jpeg" alt="" class="wp-image-614768" style="width:820px;height:auto" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-4-Vice-President-Kashim-Shettima-tours-the-exhibition-hall-greeted-by-exhibitors-1-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-4-Vice-President-Kashim-Shettima-tours-the-exhibition-hall-greeted-by-exhibitors-1-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-4-Vice-President-Kashim-Shettima-tours-the-exhibition-hall-greeted-by-exhibitors-1-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-4-Vice-President-Kashim-Shettima-tours-the-exhibition-hall-greeted-by-exhibitors-1-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Fig-4-Vice-President-Kashim-Shettima-tours-the-exhibition-hall-greeted-by-exhibitors-1.jpeg 1440w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Vice President Kashim Shettima tours the exhibition hall greeted by exhibitors</figcaption></figure></div>


Summit Highlights and Enhanced Experiences



AFNIS 2025 promises a dynamic agenda filled with strategic discussions, exhibitions, deal-making opportunities, and expanded networking experiences. The program kicks off with the exclusive High-Level Ministerial &amp; CEO Retreat (July 14–15), where African mining ministers and CEOs will engage in strategic dialogue and team-building activities, the AFNIS 2025 Golf Tournament. The Strategic Partnerships &amp; Policy Summit (July 16) will feature keynote addresses, masterclasses, country spotlights, and panels on topics such as local content development, empowering Africa’s green economy, and the linkages between mining and agriculture. The Technical Summit (July 17) will offer deep dives into Africa’s economic outlook, mobilizing domestic capital, responsible sourcing, energy transitions, and building financial confidence in mining investments, alongside the unveiling of the SEforALL study on critical minerals. In a major highlight, AFNIS 2025 will also witness the commissioning of a landmark lithium processing facility, further underscoring the summit&#8217;s focus on translating dialogue into tangible industrialization outcomes.



Join the Conversation: Participate in AFNIS 2025



AFNIS 2025 invites visionary leaders, project developers, investors, innovators, and stakeholders from across the natural resources and energy ecosystem to Abuja this July. Whether you aim to speak, attend, partner, or exhibit, AFNIS offers a unique opportunity to connect with key decision-makers, forge strategic alliances, and contribute to shaping Africa&#8217;s sustainable future.



Don&#8217;t miss this pivotal summit dedicated to transforming Africa&#8217;s natural wealth into lasting economic prosperity through the power of local content.



For more information on participation and partnerships:



<ul class="wp-block-list">
<li>Website: <a href="http://www.afnisummit.com" target="_blank" rel="noreferrer noopener">www.afnisummit.com</a></li>



<li>Speaker Enquiries: <a href="mailto:speak@afnisummit.com">speak@afnisummit.com</a></li>



<li>Media Enquiries: <a href="mailto:media@afnisummit.com">media@afnisummit.com</a> &nbsp;</li>



<li>General &amp; Partnership Enquiries: <a href="mailto:help@afnisummit.com">help@afnisummit.com</a></li>
</ul>



Join us in Abuja for AFNIS 2025 – Building Africa sustainably through local industries.


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<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/image-4-1-820x547.png" alt="" class="wp-image-614769" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/image-4-1-820x547.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/image-4-1-300x200.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/image-4-1-135x90.png 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/image-4-1-768x512.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/image-4-1.png 1089w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Secretary General of Africa Minerals Strategy Group Moses Engadu announces landmark Africans for Africa Initiative with cofounders Motimose Metals and Core International Directors Tim Tokun and Suleiman</figcaption></figure></div>

Fig 1 President Bola Tinubu is greeted by a delegation from AFNIS 2024 including Ministers from Sierra Leone Liberia Chad Malawi Uganda and South Sudan

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="498" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/sidi-ould-tah-820x498.png" alt="" class="wp-image-613679" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/sidi-ould-tah-820x498.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/sidi-ould-tah-300x182.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/sidi-ould-tah-148x90.png 148w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/sidi-ould-tah-768x466.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/sidi-ould-tah-1536x932.png 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/sidi-ould-tah.png 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



South Africa has entered a new era—politically recalibrated, economically pressured, yet fundamentally poised. The 2024 general election, resulting in the country’s first national coalition Government of National Unity (GNU) under President Cyril Ramaphosa, was not just a political outcome—it was a societal reset. South Africans demanded a new social contract: delivery over rhetoric, partnership over posturing, credibility over complexity. In his campaign and subsequent inaugural commitments, President Ramaphosa emphasized infrastructure renewal, energy security, youth employment, and national coherence as pillars of renewal. The task now is not to define direction—but to deliver at scale.



The economic headwinds remain sobering. In 2024, GDP growth hovered at 1.1%, well below the levels needed to address poverty and exclusion. Unemployment stood at 31.9%, with youth unemployment exceeding 44%. Public infrastructure continued to underperform, with deteriorating logistics capacity and ongoing energy insecurity compounding economic constraints. The 2024 Electricity Regulation Amendment Act marked a major policy shift, opening the generation and transmission sectors to competition and seeking to reduce dependence on Eskom. However, implementation bottlenecks persist, and the gap between legislative intent and lived experience remains wide.



Amid this environment, infrastructure is not just a sector—it is the backbone of recovery. The government’s Economic Reconstruction and Recovery Plan (ERRP) rightly centers infrastructure-led growth, but delivery capacity and funding constraints have limited momentum. South Africa’s capital expenditure as a percentage of GDP remains below 6%, far from the National Development Plan’s 10% target. Logistics inefficiencies alone are estimated to cost the economy billions of rands annually. Transnet’s operational and governance challenges have undercut freight reliability, while delays at major ports continue to undermine trade competitiveness.



This is why the updated National Infrastructure Plan 2050, Phase 2 (released in 2024), declared: “A fit-for-purpose infrastructure delivery system is a precondition for inclusive economic participation, regional trade, and long-term fiscal resilience.” That framing reflects the reality: South Africa’s infrastructure challenge is not only national—it is continental. As the anchor of the North–South Corridor and a key node in the Maputo Development Corridor, South Africa’s success in unlocking logistics performance has direct implications for SADC trade volumes, intra-African commerce, and AfCFTA implementation.



In this landscape, South Africa needs a multilateral development partner that not only shares its sense of urgency, but also matches its institutional sophistication. The African Development Bank has shown glimpses of this. In 2024, the AfDB approved a $1 billion sovereign facility to support Transnet’s recovery—one of the clearest signals of confidence in the state’s commitment to reform. The Bank has also contributed to Just Energy Transition efforts, from concessional project preparation to financing renewable energy pilots and public–private structuring. But the scale of South Africa’s infrastructure imperative—and the shifting global landscape—demand a more decisive, fit-for-purpose partnership.



Global economic realities are evolving fast. Fiscal tightening, geopolitical fragmentation, and climate financing imbalances are reshaping the development finance ecosystem. South Africa’s own geopolitical stature—as a G20 member, BRICS founder, and climate diplomacy broker—positions it as both a contributor to and a demander of coherent multilateral reform. As debates intensify around SDR rechanneling, MDB reform, and global infrastructure liquidity, the AfDB must become more than Africa’s lender. It must become its bridge. And that includes being a credible internal steward—governed with the transparency, institutional discipline, and accountability that member states like South Africa have long championed.



This is where the AfDB’s upcoming leadership transition matters—not as a continental ritual, but as a strategic inflection point. Dr. Sidi Ould Tah, a seasoned multilateralist and candidate for the AfDB presidency, offers a vision that aligns with South Africa’s expectations: credible delivery, innovative capital mobilization, and institutional relevance. As President of BADEA, Dr. Tah helped reposition the institution from a quiet partner to an influential force—mobilizing Africa–Gulf co-financing, targeting SMEs, and supporting infrastructure corridors with agility and accountability. [Under his leadership, BADEA attained prestigious AA+/AAA credit ratings, quadrupled project approvals, modernized its digital systems, and expanded total assets from $4 billion to nearly $7 billion—all while maintaining one of the lowest non-performing loan ratios (0.4%) among African DFIs.]



His platform for the AfDB speaks directly to South Africa’s core priorities. He proposes the creation of a Private Capital for Africa platform—housed in Johannesburg—to crowd in institutional investors, deploy blended finance tools, and de-risk large-scale regional infrastructure. This responds directly to South Africa’s call for the AfDB to partner more strategically with its own development finance institutions such as the PIC, DBSA, and IDC—pools of capital that remain under-leveraged for African integration. Dr. Tah’s proposal to scale AfDB’s annual capital mobilization to $50–60 billion through hybrid instruments, sovereign wealth partnerships, and diaspora finance aligns with South Africa’s preference for innovative, non-distortionary financing that does not increase debt distress.



Beyond capital, his focus on institutional integrity—through a proposed Pan-African Results &amp; Governance Lab embedded in the Bank—reflects South Africa’s long-standing emphasis on fiduciary control, transparency, and performance culture. [This commitment builds on Dr. Tah’s introduction of ESG-aligned sustainable financing frameworks and ISO-certified governance systems during his tenure at BADEA—credentials that mirror South Africa’s own calls for accountable multilateralism.] The need for institutional discipline, not just policy ambition, has never been clearer. With a reformist state, deep financial markets, and advanced project planning systems, South Africa is not short on technical capacity—it needs a partner that can co-implement.



And that co-implementation must be based on trust and shared vision. In South Africa’s case, the most impactful development partnerships are those that work horizontally—not just from capital provider to state, but across institutions, development banks, private capital pools, and regional alliances. This is where the AfDB, under the right leadership, can amplify what South Africa already possesses: a sophisticated institutional base and a continental integration agenda that is both credible and executable.



South Africa’s credibility on the world stage—particularly on matters of climate finance, regional stability, and multilateral equity—is not accidental. It is the product of decades of institution-building, diplomacy, and democratic resilience. The next AfDB leadership must recognize that countries like South Africa are not merely recipients of development finance—they are architects of its future. A strong, responsive, and politically attuned AfDB can amplify that influence, not compete with it.



Dr. Tah’s platform is not a promise—it is a blueprint. It is not only about who leads the AfDB, but how it is led. For South Africa, the choice must be strategic, not sentimental. The development bank it helped to build must now evolve in tandem with its own transformation.



The moment demands alignment between national ambition and continental delivery. South Africa has done the political heavy lifting. It is now time for the institutions around it to match that seriousness—with resources, with reform, with partnerships, and with results. The AfDB, under the right leadership, can be the partner that powers this next chapter.

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KC4JBNQVH5KDFMNHV4IGIF4FRY-820x547.jpg" alt="" class="wp-image-546353" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KC4JBNQVH5KDFMNHV4IGIF4FRY-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KC4JBNQVH5KDFMNHV4IGIF4FRY-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KC4JBNQVH5KDFMNHV4IGIF4FRY-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KC4JBNQVH5KDFMNHV4IGIF4FRY-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KC4JBNQVH5KDFMNHV4IGIF4FRY-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KC4JBNQVH5KDFMNHV4IGIF4FRY-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: IMF African Department Director Abebe Aemro Selassie listens to a question during an interview with Reuters at the annual meeting of the International Monetary Fund and the World Bank, in Marrakech, Morocco October 9, 2023. REUTERS/Susana Vera/File Photo</figcaption></figure>



April 25 (Reuters)&nbsp;&#8211;&nbsp;Sub-Saharan African economies should work to increase their domestic revenue collection to avoid having to take on debt amid &#8220;turbulent global conditions&#8221;, International Monetary Fund Africa Director Abebe Aemro Selassie said.



The region&#8217;s economy is likely to expand by 3.8% this year, the Fund said in its World Economic Outlook report this week, marking a cut from its previous forecast of 4.2% due to the potential impact of the U.S. administration&#8217;s stance on trade.



&#8220;There is a period where maybe relying on debt financing is not the right way to do development,&#8221; Abebe told Reuters, adding that policymakers have to also identify new sources of cheaper capital.



Investors sold off risky assets after President Donald Trump announced sweeping tariffs on dozens of U.S. trading partners, pushing up the yields of most issuers in sub-Saharan Africa into double digits, a sign that such so-called frontier economies could struggle to access capital markets.



&#8220;You have to look for internal resources to address the development and address social spending needs,&#8221; Abebe said. &#8220;These policies that are to enhance resilience, there is a higher premium on those.&#8221;



The average debt-to-economic-output ratio in the region was steady last year at less than 60% of GDP, the IMF said, but some economies like Kenya have been struggling with high debt-servicing costs.



Although the United States is not a major trading partner for many economies in the region, the knock-on effects from its approach to international trade are also piling pressure on the foreign exchange rates of economies, he said.



&#8220;We have already seen oil prices decline&#8230; Countries like Nigeria and Angola are going to see a mark-down in economic activity, and they are some of the largest economies in sub-Saharan Africa,&#8221; he said.



The projected setback could interrupt a &#8220;hard fought economic recovery&#8221; from the global pandemic, a worldwide inflation spike and an interest rate surge that effectively locked many African economies out of foreign capital markets, the IMF said.



Growth in the region, home to a wide range of economies, including fairly diversified ones like Tanzania and Senegal, reached 4% last year, surpassing the IMF&#8217;s forecast of 3.6%, the Fund said.



Last year&#8217;s robust economic expansion in the region was accompanied by an improvement in macroeconomic imbalances, the IMF said, citing lower average inflation and stable debt levels.



&#8220;We have seen quite a lot of resilience in the region,&#8221; Abebe said, adding that 11 out of the 20 fastest-growing economies in the world will be in sub-Saharan Africa.



(Reporting by Karin Strohecker in Washington DC and Duncan Miriri in Nairobi; Editing by Hugh Lawson)

FILE PHOTO: IMF African Department Director Selassie at interview with Reuters during International Monetary Fund and the World Bank meeting in Marrakech

Sub-Saharan Africa must lift revenue to ride out global turbulence – IMF Africa head

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="572" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PHZVFDZVK5KOFC5CAW3CU3SPAI-820x572.jpg" alt="" class="wp-image-532434" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PHZVFDZVK5KOFC5CAW3CU3SPAI-820x572.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PHZVFDZVK5KOFC5CAW3CU3SPAI-300x209.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PHZVFDZVK5KOFC5CAW3CU3SPAI-129x90.jpg 129w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PHZVFDZVK5KOFC5CAW3CU3SPAI-768x535.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PHZVFDZVK5KOFC5CAW3CU3SPAI-1536x1071.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/PHZVFDZVK5KOFC5CAW3CU3SPAI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A vendor shows a ten Zimbabwe gold-backed (ZiG) note along a street in Harare, Zimbabwe, July 17, 2024. REUTERS/Philimon Bulawayo</figcaption></figure>



April 25 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwe&#8217;s annual inflation rate was at 85.7% in April in local currency terms, statistics agency data showed.



Friday&#8217;s release is the first time Zimstat has given a year-on-year local currency inflation rate since authorities launched the Zimbabwe Gold (ZiG) currency in April 2024.



The ZiG is Zimbabwe&#8217;s sixth attempt at a stable currency in less than two decades after a bout of hyperinflation under former leader Robert Mugabe.



But the ZiG is down almost 50% since its launch, according to Friday&#8217;s exchange rate on the central bank website.



(Reporting by Tannur Anders; Editing by Alexander Winning)

A vendor shows a ten Zimbabwe gold-backed (ZiG) note along a street in Harare

Zimbabwe’s local currency inflation at over 85% y/y in April

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="474" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/INJ7YSACHNMCJGVADGR3LX4GQA.avif" alt="" class="wp-image-613563"/><figcaption class="wp-element-caption">Members of the M23 rebel group mount their vehicles after the opening ceremony of Caisse Generale d&#8217;epargne du Congo (CADECO) which will serve as the bank for the city of Goma where all banks have closed since the city was taken by the M23 rebels, in Goma, North Kivu province in the East of the Democratic Republic of Congo, April 7, 2025. REUTERS/Arlette Bashizi/File Photo</figcaption></figure>



April 25 (Reuters)&nbsp;&#8211;&nbsp;Congo and Rwanda plan to sign an agreement in Washington on Friday to promote peace and economic development, sources told Reuters, part of a diplomatic push to end violence after an advance by Rwandan-backed rebels in eastern Congo.



The agreement, expected to be signed by the two countries&#8217; foreign ministers at a ceremony with U.S. Secretary of State Marco Rubio, comes as Washington is in talks to invest billions of dollars in mineral-rich Congo. Rwanda said this week it was also speaking to Washington about a possible minerals deal.



Congo has seen a surge in violence after Rwandan-backed M23 rebels launched a major offensive in January that led to the capture of the two largest cities in the east.



The United Nations and Western governments say Rwanda has provided arms and troops to M23. Rwanda denies backing M23 and says its military has acted in self-defence against Congo&#8217;s army and a militia founded by perpetrators of the 1994 genocide.



Both Qatar and the U.S. have shown an interest in mediating a resolution. The Gulf state has long positioned itself as a peacemaker, while Washington is interested in accessing a greater share of Congo&#8217;s mineral wealth.



A diplomatic source said the agreement to be signed on Friday aims to foster a &#8220;pathway to peace, stability, and integrated economic development&#8221; in eastern Congo and &#8220;the resumption of normal bilateral relations&#8221;.



Another source briefed on the agreement said it was intended to build investor confidence.



The Trump administration has taken a special interest in Congo since a Congolese senator contacted U.S. officials to pitch a minerals-for-security deal this year.



Washington wants greater access to minerals like copper, cobalt and lithium, which are used in mobile phones and electric cars, and are currently exploited predominantly by China and its mining companies.



(Reporting by Sonia Rolley and Jessica Donati; Editing by Robbie Corey-Boulet, Alison Williams, Alexandra Hudson)

INJ7YSACHNMCJGVADGR3LX4GQA

Congo and Rwanda to sign agreement in US on peace, economic development, sources say

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg" alt="" class="wp-image-568119" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, April 25 (Reuters) &#8211; South Africa&#8217;s rand was steady on Friday as investors awaited clarity on a disputed national budget which has roiled domestic markets.



At 1236 GMT, the rand traded at 18.8125 against the dollar, near its Wednesday closing level of 18.81.



South Africa&#8217;s biggest political parties have clashed over a proposal to raise the value-added tax rate by 1 percentage point over the next two years.



The VAT increase was withdrawn on Thursday and domestic-focused investors are awaiting details on the next steps in the budget process.



&#8220;The scrapping of the VAT increase and the subsequent questions on where Treasury is going to find the shortfall in the budget has put the rand under some renewed pressure,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.



Like other risk-sensitive currencies, the rand often takes its cue from global factors and domestic drivers.



In addition to the budget dispute, the rand has experienced bouts of volatility linked to uncertainty over U.S. President Donald Trump&#8217;s tariff plans.



South Africa&#8217;s President Cyril Ramaphosa said on Thursday he had spoken to Trump and discussed fostering good relations between the two countries, which have soured since Trump took office in January.



On the stock market, both the Top-40 index and the broader all-share index were last trading about 0.7% higher.



South Africa&#8217;s benchmark 2030 government bond was also stronger, with the yield down 4 basis points at 8.83%.



(Reporting by Tannur Anders, Sfundo Parakozov and Bhargav Acharya; Editing by Jacqueline Wong and Susan Fenton)

rand2 (1)

South African rand stable as investors await budget clarity

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136098-17455036212025-04-24t134926z_586299269_rc2d4ea8bz9f_rtrmadp_0_usa-stocks-820x547.jpeg" alt="" class="wp-image-613534" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136098-17455036212025-04-24t134926z_586299269_rc2d4ea8bz9f_rtrmadp_0_usa-stocks-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136098-17455036212025-04-24t134926z_586299269_rc2d4ea8bz9f_rtrmadp_0_usa-stocks-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136098-17455036212025-04-24t134926z_586299269_rc2d4ea8bz9f_rtrmadp_0_usa-stocks-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136098-17455036212025-04-24t134926z_586299269_rc2d4ea8bz9f_rtrmadp_0_usa-stocks-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136098-17455036212025-04-24t134926z_586299269_rc2d4ea8bz9f_rtrmadp_0_usa-stocks-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136098-17455036212025-04-24t134926z_586299269_rc2d4ea8bz9f_rtrmadp_0_usa-stocks-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



Emerging markets have found themselves between a rock and a hard place amid an escalating trade war, seemingly forced to choose between China and the U.S. But there’s another way: they’re backing themselves.



“Southeast Asian countries, including Malaysia, have to negotiate with the U.S. to come up with some sort of a soft-landing spot,” Ong Kian Ming, Malaysia’s former deputy minister of international trade and industry, told CNBC. “But at the same time, it doesn’t prevent us from working with other countries — not to screw the U.S., but to benefit ourselves.”



Southeast Asia is particularly vulnerable to an escalating global trade war. Goldman Sachs has cut its growth forecasts for Asian emerging markets, saying smaller export-oriented economies are the most exposed to the tariff turmoil.&nbsp;



The bank’s 2025 GDP forecast for Vietnam is now 5.3% — significantly lower than consensus estimates of 6.5% cited by Goldman. The bank expects Malaysia to grow by 3.8% (compared to 4.7%) next year, and Thailand to expand by 1.5% (compared to 2.7%).



Southeast Asian nations were among the hardest hit on U.S. President Donald Trump’s self-declared “Liberation Day.” They’re due to be hit with tariffs of up to 49% after a 90-day temporary reduction to 10% on all countries (bar China) is lifted.



It means the region faces a difficult balancing act as the U.S. is not its only strategic partner — China also plays a crucial role for medium-term growth and development objectives for many emerging Asian economies, according to Lavanya Venkateswaran, senior ASEAN economist at the OCBC Bank.&nbsp;



Chinese President Xi Jinping visited Vietnam, Malaysia and Cambodia earlier this month in an effort to promote Beijing as a pillar of stability and boost ties within the region. He also called on the Global South “to uphold the common interests of developing countries.”



And it appears to be happening.



UN Trade and Development (UNCTAD) Secretary-General Rebeca Grynspan told CNBC’s Squawk Box this month that intra-regional trade is growing.



“One interesting indicator that we have from the last year, in this century, is that South-South trade has already been growing faster than North-North trade,” she said. “So the acceleration of South-South trade, I think, will take a new dynamism because of the new trade policy of the U.S.”



Anwar Ibrahim, Malaysian prime minister and current rotating chair of ASEAN, echoed this sentiment, calling for more trade and greater economic integration within the region in a keynote speech at the ASEAN Investment Summit in early April.



<h2 class="wp-block-heading" id="h-no-easy-solutions-nbsp"><a></a>No easy solutions&nbsp;</h2>



While there are no “easy solutions,” emerging economies are expected to try different approaches in a bid to mitigate the impact of U.S. tariffs, according to Lavanya Venkateswaran,&nbsp;an economist at OCBC.



“In the near-term, the authorities will have to tap fiscal and monetary policy tools to provide counter-cyclical support to affected sectors of the economy.&nbsp;For the medium-term, the authorities understand the need to diversify trade and investment partners,” she said.



It helps that the so-called “China+1” strategy still holds in the medium-term, she added. Many export-oriented Southeast Asia economies were big beneficiaries of the strategy during the first Trump administration, receiving economic boosts as companies shifted production away from China to their shores.&nbsp;



In Cambodia, for&nbsp;instance, according to data from the World Bank, Cambodia’s exports of goods and services made up 55.5% of its gross domestic product in 2018, before Trump imposed his first China tariffs — by 2023, this figure had risen to 66.9%.



Miguel Chanco, chief emerging Asia economist at Pantheon Macroeconomics, agreed,&nbsp;saying that these emerging markets are more attractive than China as export manufacturing hubs in the long term.



“It’s also worth bearing in mind that these tariffs do nothing to eliminate the labor cost competitiveness of EM Asia ex-China economies (versus China), which will remain a big selling point over the long term to multinationals,” he told CNBC by email. “New supply chains won’t be created overnight.”

108136098-17455036212025-04-24t134926z_586299269_rc2d4ea8bz9f_rtrmadp_0_usa-stocks

Emerging markets are betting on a post-tariffs winner — and it’s not China or the U.S.

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/250424-donald-trump-hat-ew-203p-dbe2c4-820x547.jpg" alt="" class="wp-image-613531" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/250424-donald-trump-hat-ew-203p-dbe2c4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/250424-donald-trump-hat-ew-203p-dbe2c4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/250424-donald-trump-hat-ew-203p-dbe2c4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/250424-donald-trump-hat-ew-203p-dbe2c4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/250424-donald-trump-hat-ew-203p-dbe2c4.jpg 1500w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo; via CNBC</figcaption></figure>



The online store for the Trump Organization on Thursday began selling red hats and T-shirts bearing the message “Trump 2028,” fueling fresh questions about President Donald Trump attempting to seek a third term in the White House despite a constitutional bar on doing so.



The White House, when asked about the apparel, referred CNBC to the&nbsp;Trump&nbsp;Organization. The Trump Organization did not respond to a request for comment.



White House press secretary Karoline Leavitt told NBC News, “But it’s a cool hat and I suspect it will be highly popular!” The hat costs $50, and a red shirt bearing the “Trump 2028″ logo and “Rewrite the Rules” underneath it is selling for $36.



Trump has repeatedly teased the idea that he would run for a third term as president. This would require amending the U.S. Constitution.



The 22nd Amendment to the Constitution states in part, “No person shall be elected to the office of the President more than twice.” Trump was elected in 2016 and then again in 2024.



In late March, Trump did not rule out the possibility of seeking reelection in 2028.



“A lot of people want me to do it,” Trump told NBC News then. “But, I mean, I basically tell them we have a long way to go, you know, it’s very early in the administration.”



Asked by NBC if he wanted a third term, Trump said, “I like working.”



“I’m not joking,” Trump said. “But I’m not — it is far too early to think about it.”



“There are methods which you could do it,” the president said, referring to serving another term.



“I suspect I won’t be running again, unless you say, ‘He’s so good we’ve got to figure something else out,’” Trump reportedly told Republicans during a private meeting after his November electoral victory over Democratic former Vice President Kamala Harris.



In May 2024, while speaking to members of the National Rifle Association, Trump said, ″I don’t know, are we going to be considered three-term or two-term? Are we three-term or two-term if we win?″



Former White House advisor Steve Bannon said on “Real Time with Bill Maher” on April 11 that “President Trump is going to run for a third term, and President Trump is going to be elected again.”



“On the afternoon of January 20th of 2029, he’s going to be president of the United States,” Bannon predicted.



Bannon also said, “We have a team” of people looking to enable a third term for Trump.



Rep. Andy Ogles, R-Tenn., in early January introduced a House resolution to amend the Constitution to allow Trump and any other future president to be elected to a third term.



Ogles’ resolution is tailored specifically to permit Trump to serve a third term but not to allow the three living two-term former presidents to serve a third term.



″No person shall be elected to the office of the President more than three times, nor be elected to any additional term after being elected to two consecutive terms,” the amendment states.



Unlike Trump, former Presidents Bill Clinton, George W. Bush and Barack Obama all served two consecutive terms. Former President Joe Biden served one term.

250424-donald-trump-hat-ew-203p-dbe2c4

Trump Organization sells ‘Trump 2028’ hat and shirt, fueling questions about third term bid

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136511-1745552401952-gettyimages-2211163539-AFP_43ER464-1-820x547.jpeg" alt="" class="wp-image-613528" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136511-1745552401952-gettyimages-2211163539-AFP_43ER464-1-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136511-1745552401952-gettyimages-2211163539-AFP_43ER464-1-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136511-1745552401952-gettyimages-2211163539-AFP_43ER464-1-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136511-1745552401952-gettyimages-2211163539-AFP_43ER464-1-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136511-1745552401952-gettyimages-2211163539-AFP_43ER464-1-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/108136511-1745552401952-gettyimages-2211163539-AFP_43ER464-1-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">US President Donald Trump steps off Marine One upon arrival at the Leesburg Executive Airport Landing Zone in Leesburg, Virginia, on April 24, 2025. Alex Wroblewski | Afp | Getty Images</figcaption></figure>



BEIJING — U.S. President Donald Trump on Thursday refuted China’s claims that there were no ongoing trade discussions between Beijing and Washington.



“They had a meeting this morning &#8230; It doesn’t matter who ‘they’ is. We may reveal it later, but they had meetings this morning, and we’ve been meeting with China,” Trump told reporters.



The statement followed China’s denial of any talks with the U.S. and calls for abolishing “unilateral” tariff measures for resolving trade issues.



“At present there are absolutely no negotiations on the economy and trade between China and the U.S.,” Ministry of Commerce spokesperson He Yadong told reporters in Mandarin, translated by CNBC. He added that “all sayings” regarding progress on bilateral talks should be dismissed.



“If the U.S. really wants to resolve the problem &#8230; it should cancel all the unilateral measures on China,” He said.



Trump and Treasury Secretary Scott Bessent this week indicated that there could be an easing in tensions with China. The White House earlier this month added 145% tariffs on Chinese goods, to which Beijing responded with duties of its own and increased restrictions on critical minerals exports to the U.S.



The Commerce Ministry’s comments echoed those of Chinese Foreign Ministry spokesperson Guo Jiakun, who said on Thursday afternoon that there were no ongoing talks, according to state media.



Both spokespersons held to the official line that China would be willing to talk to the U.S. subject to Beijing being treated as an equal.



“China definitely wants to see the trade war deescalate, as it hurts both economies,”&nbsp;said Yue Su, principal economist, China, at The Economist Intelligence Unit. “However, due to the inconsistency of Trump’s policies and the lack of clarity around what he actually wants, China’s strategy has shifted from focusing on ‘what you need’ to ‘what I need.’ Their request for the U.S. to cancel ‘unilateral’ tariffs reflects that shift.”



China earlier this week threatened countermeasures against countries that might make deals with the U.S. at the expense of Beijing’s interests.



“We also need to recognize that this is a ‘whatever it takes’ moment for China in terms of U.S.-China relations,” Su said. “I&nbsp;wouldn’t be surprised if China adopts a more hawkish stance if the U.S. continues to escalate tensions.”



Several Wall Street banks have cut their China gross domestic product outlook in the last few weeks in light of the tariffs and escalating tensions with the U.S.



The Commerce Ministry on Thursday&nbsp;emphasized government and business efforts to help companies sell goods meant for exports to the Chinese market instead.



“From China’s perspective, any meaningful negotiations will likely require the US to reduce tariffs to the previous 20% or even lower level,” said Jianwei Xu, senior economist for Greater China, at Natixis.



“But for the Trump administration, however, reducing tariffs too far could raise uncomfortable questions: What was the point of the confrontation if we end up back where we started?”



The U.S. is China’s largest trading partner on a single-country basis. But in the last several years, Southeast Asia has surpassed the European Union to become China’s largest trading partner on a regional basis.



Correction. Yue Su is principal economist, China, at The Economist Intelligence Unit. An earlier version misstated the name of the organization.

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Ripple president says she sees growing U.S. opportunity under pro-crypto administration

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Sub-Saharan Africa must lift revenue to ride out global turbulence – IMF Africa head

Zimbabwe’s local currency inflation at over 85% y/y in April

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South African rand stable as investors await budget clarity

Emerging markets are betting on a post-tariffs winner — and it’s not China or the U.S.

Trump Organization sells ‘Trump 2028’ hat and shirt, fueling questions about third term bid

Trump asserts trade talks with China are underway after Beijing denies any ongoing negotiations

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