Africa must become self-sufficient: Godongwana

Finance Minister, Enoch Godongwana addresses a media briefing at Parliament in Cape Town on May 21, 2025.

2 minutes

Finance Minister Enoch Godongwana says that Africa must find different ways of becoming self-sufficient amid an unstable geopolitical environment.

He spoke to SABC News on the margins of the African Development Bank (AfDB) Group’s annual meeting in Abidjan, Côte d’Ivoire.

The meeting comes as the trade war intensifies, affecting a number of countries.

Godongwana says, “One of the other challenges Africa is facing now, overseas development assistance is declining completely and also various trade challenges that are emerging as a result of the American position.”

He says, “So what that means is that Africa has to look at being self-sufficient and we need institutions to fund our own development as Africa, and therefore this institution, amongst others, has got to work with national development agencies and so on to attack the level of poverty and infrastructure deficiencies in our economy.”

South Africa

Godongwana says he remains optimistic that South Africa’s presidential candidate at the back, Bajabulile Swazi Tshabalala, will do exceptionally well.

Tshabalala will be up against four other candidates who want to head the continental institution.

He says the AfDB is facing a massive responsibility

Godongwana says, “The campaign is going very well. As all other campaigns, you may think we are doing well, only to find that things are bad, but as things stand, I think that our campaign is working well. I can tell you, if my predictions are correct, there will be an elimination process. I think she is going to be amongst the two that are going to be finishing.”