Zambian President Hakainde Hichilema has described the suspension of United States Agency for International Development (USAID) funding and related programs in Africa as an unavoidable reality. He highlighted the significant impact the withdrawal of this support will have on various sectors across the continent.<\/p>\n\n\n\n
Speaking on the sidelines of the African Union (AU) Summit in Addis Ababa, Ethiopia, President Hichilema met with UNAIDS Executive Director and United Nations Under-Secretary-General Winnie Byanyima, where they discussed the implications of the funding cuts. He noted that while the decision will cause disruptions, Africa\u2019s long-term strength lies in efficiently managing its own resources.<\/p>\n\n\n\n
\u201cThis meeting came at a crucial time,\u201d President Hichilema stated. \u201cWhile the suspension of USAID funding will undoubtedly impact critical programs, we must focus on prioritizing efficiency, reducing wasteful expenditure, and channeling resources into key sectors such as health, agriculture, and education.\u201d<\/p>\n\n\n\n
In a separate engagement, President Hichilema held bilateral discussions with Trade and Development Bank (TDB) Group President and Managing Director, where he addressed the financial imbalance that places Africa at a disadvantage in accessing capital.<\/p>\n\n\n\n
He urged TDB to take a proactive role in tackling the high cost of capital on the continent, emphasizing that Africa often pays significantly more for financing compared to other regions. This, he noted, restricts economic growth and limits the continent\u2019s ability to invest in long-term development projects.<\/p>\n\n\n\n
\u201cOur economies cannot grow sustainably if we continue to face financial barriers that make capital more expensive for African nations than for other regions,\u201d President Hichilema said. \u201cWe need innovative solutions to address this imbalance and ensure that Africa can attract affordable funding for its development priorities.\u201d<\/p>\n\n\n\n
As global funding dynamics shift, President Hichilema reiterated the need for African nations to adopt a more self-reliant approach. He called for enhanced accountability and strategic investment in sectors that drive economic growth and social development.<\/p>\n\n\n\n
The AU Summit, currently underway in Addis Ababa, has brought together African leaders to discuss pressing regional and global issues, including economic resilience, trade, and health security.<\/p>\n\n\n\n
By Best Jere <\/p>\n","protected":false},"excerpt":{"rendered":"
Zambian President Hakainde Hichilema has described the suspension of United States Agency for International Development (USAID) funding and related programs in Africa as an unavoidable reality. He highlighted the significant impact the withdrawal of this support will have on various sectors across the continent. Speaking on the sidelines of the African Union (AU) Summit in …<\/p>\n","protected":false},"author":2,"featured_media":8475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","content-type":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-8473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"aioseo_notices":[],"yoast_head":"\n