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Kenyan workers prepare clothes for export.
Investment analyst Roy Mutooni says Africa should start searching for new trade markets in the continent as the US imposes tariffs on countries around the world.
Many countries including China have imposed tough reciprocal tariffs.
Mutooni says the biggest advantage for investment is now in Africa itself and the Middle East.
He says China is also the biggest trade partner for Africa to lean on.
“At the end of the day, the US is the biggest consumer of the economy. So, that’s a big loss, that’s for sure. But remember South Africa is big in Africa and a lot of things that South Africa produces can be consumed in South Africa in the context of the African free trade area. China as well has been a big market for us as well. The Middle East as well.”
Mutooni adds, “So, I think it is just going to be incumbent on captains of industry and industries here. To start looking for other markets elsewhere. Remembering as well that everybody is in the same boat as us. They all lose access to the biggest market; they have to make a plan.”
Rising tariffs will strain Africa’s trade economy
