Former South African finance minister Trevor Manuel has called for a renewed African strategy to navigate an increasingly fragmented global landscape, warning that the continent must strengthen its position within a rules-based international system. Speaking in Tangier, Manuel emphasised the need for institutional reform, economic resilience and greater scrutiny of global financial structures.
A changing global order demands African response
Manuel’s remarks come at a time of heightened geopolitical tension and economic realignment, with global institutions facing pressure and emerging markets navigating increased volatility. He argued that Africa cannot remain a passive participant in this evolving order, but must instead assert its interests more strategically.
Central to his message was the importance of a rules-based system that ensures fairness and predictability in global trade, finance and governance. Without such a framework, he warned, smaller and developing economies risk being marginalised.
Scrutiny of credit rating agencies intensifies
A key focus of Manuel’s address was the role of international credit rating agencies, which he suggested require greater oversight and accountability. He argued that their assessments can disproportionately impact African economies by influencing borrowing costs and investor perceptions.
Calls for reform in this area have been growing, with critics highlighting perceived inconsistencies and biases in how sovereign risk is evaluated across different regions. For African nations, higher borrowing costs can significantly constrain development and investment.
Building resilience through reform
Manuel also stressed the need for stronger domestic institutions and fiscal discipline across the continent. Enhancing governance, improving transparency and strengthening regulatory frameworks were identified as critical steps toward building long-term resilience.
He pointed to the importance of regional cooperation, suggesting that African economies could benefit from deeper integration and coordinated policy approaches, particularly in areas such as trade, infrastructure and financial markets.
Opportunities amid global uncertainty
Despite the challenges, Manuel highlighted that the shifting global order also presents opportunities. As supply chains diversify and investors seek new growth markets, Africa has the potential to position itself as a key destination for capital and industrial expansion.
However, realising this potential will depend on policy consistency, institutional credibility and the ability to present a unified economic narrative to global investors.
A call for strategic alignment
Manuel’s message ultimately centred on the need for alignment—between African governments, institutions and international partners. By strengthening its voice and addressing structural weaknesses, the continent can better navigate global shifts and secure a more favourable position in the international system.
As geopolitical and economic uncertainties persist, his call for African renewal reflects a broader urgency: the need to move from vulnerability to strategic agency in a rapidly changing world.
Newshub Editorial in Africa – 14 April 2026
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