Africa is facing unrelenting force from multiple global shocks, including climate change, trade wars, and debt pressures that threaten to overwhelm the continent, business leader Sir Sam Jonah has warned.
Speaking at the Africa Trade Summit 2026 on Thursday, Sir Sam painted a sobering picture of external threats converging on Africa, describing the situation as a “near reality pounding at our doors.”
“Climate crises—fueled by global inaction—devastate our agriculture and communities. Supply chains, once bridges of opportunity, are now battlegrounds, weaponised in trade wars that leave Africa as collateral damage,” the former AngloGold Ashanti CEO told African leaders.
He added that debts are mounting from these shocks, investments are fleeing amid volatility, and African youth—”our greatest asset”—are watching opportunities evaporate.
Sir Sam referenced recent warnings from Canadian Prime Minister Mark Carney at the World Economic Forum in Davos, who declared the end of the “nice story” of a rules-based global order.
“Prime Minister Carney’s words cut to the bone: The world is in ‘rupture, not transition.’ Institutions like the WTO and UN are crumbling as great powers exploit vulnerabilities,” Sir Sam said.
He argued that this hostile environment makes industrialisation imperative for Africa’s survival and prosperity.
“The new world is not looming—it is here, crashing upon our shores with unrelenting force,” the veteran industrialist declared before an audience that included President Nana Akufo-Addo and several African heads of state.
Sir Sam specifically pointed to U.S. protectionism surging under aggressive leadership, imposing tariffs that disrupt African exports and inflate costs for the continent.
He also warned about China’s expanding influence, saying it “offers partnerships but demands dependencies that bind us tighter to external whims.”
The business magnate called on African nations to form coalitions and assert more control over their economic destiny.
“Africa, with our 1.4 billion people, vast resources, and youthful dynamism, is no weakling. We are the emerging force that can redefine the table—or risk being served upon it,” Sir Sam said.
He urged African governments to prioritise “beneficiating our minerals on African soil, processing our agriculture into global brands, and manufacturing pharmaceuticals that secure our health sovereignty.”
The industrialist also called for rejecting “exploitation disguised as aid” and leveraging Africa’s collective weight to negotiate from positions of strength.
“Demand fair terms in every deal,” he told the gathering at the Accra International Conference Centre.
Sir Sam’s address set the tone for the two-day summit, which focuses on practical mechanisms for financing Africa’s industrial transformation.
The summit, organised by the African Trade Chamber, has convened finance ministers, industry leaders, and international institutions to discuss actionable strategies for developing industrial value chains across the continent.
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Source: www.myjoyonline.com
