The populist mood sweeping across many high-income countries appears to present a bleak prospect for Africa. As rich nations slash aid budgets and embrace inward-looking policies, Africa faces a critical juncture that demands a fundamental shift in how it presents itself to the world.
Rather than focusing on aid dependency, the continent needs to emphasize its rapidly expanding consumer markets and work to correct investor misperceptions driven by negative media coverage and inadequate market data. Better tools for measuring and understanding African consumer sentiment could help transform the continent’s image from an aid recipient to an attractive investment destination.
The European Commission, Europe’s largest aid donor, is planning to slash its aid budget by 35%, France and Germany are planning similar-sized cuts, while the Republican Project 2025 that underpins the thinking of the incoming Trump administration recommends that the United States “terminate” all contributions to the World Bank.
About the authors
Tom Carver
Tom Carver is a communications strategist and former BBC journalist based in Africa and Washington. He is a joint CEO of Africa Momentum, a social impact initiative to deliver better data on Africa’s growing consumer classes.
Nick van Praag
Nick van Praag is the founder of Ground Truth Solutions, or GTS, a pioneering survey organization in the humanitarian and climate change spaces. He is a joint CEO of Africa Momentum, a social impact initiative to deliver better data on Africa’s growing consumer classes.
