By Oladeinde Olawoyin
The African Growth and Opportunity Act (AGOA) expired on September 30, bringing an end to a 25-year-old deal providing duty-free access to U.S. markets for sub-Saharan African countries since the era of President Clinton. The uncertainty that clouded its plausible extension last month, to my mind, explains the place of Africa in global trade conversations.
From DC, Pennsylvania through Virginia, New York, and Philadelphia, I have taken note of an important dynamic: global trade conversations perennially have Africa—a continent of 54 countries—placed somewhere as a mere footnote.
(I have had to take on my Pan-African caps in the meeting rooms of nearly a dozen policy think tanks across these cities, so much so that a friend from the Caribbean now calls me “Papa Africa”)
But the sentiment that defines the place of the continent in these conversations is rooted in fidelity to data and not to emotions: Africa accounts for less than 2% of total U.S. merchandise, and exports from Sub-Saharan Africa account for 5.24%, per 2024 data. Last year, the U.S. recorded trade deficit of approximately $7.2 billion with Africa.
Interestingly, when it comes to potential for growth and real (trade) expansion, the continent holds a vantage position in prognostic analyses.
What then do we do to convert these perennial projections to real possibilities in the face of global uncertainties? So much more, but perhaps that’s a discussion for another day.
But, er, at least two economists/policy experts suggested to me in side-chats that Africa may also need to look more towards private capital in the U.S, in the face of immediate (tariff) uncertainties.
Anyway, away from the hyper-serious world of trade conversations, VC funding, urban planning and commerce, these cities have thrown their wide, generous arms open to us, allowing everyone to immerse themselves in new cultures, history, and commerce.
First, unlike DC and NY City, Philly has a communal feel to its residential make-up, from the tiny parts of its suburbs through to downtown Philly, one that resonates well with me.
Again, Philadelphia holds a special place in United States’ constitutional (and indeed democratic) evolution: it’s the city where the first draft of the U.S. Constitution took place. And nowhere is that sense of history captured better like the National Constitution Centre, where we were entertained with a brilliant stage performance and an illuminating, historical tour. (Here, I did a chop-knockle with George Washington).
A day at the Rocky Steps, the 72-step steps leading up to the East entrance of the Philadelphia Museum of Art which gained global fame after being featured in a notable scene from the 1976 film “Rocky”, was a delight. Here, we did the Rocky pose!
On Benjamin Franklin Parkway, there were national flags prominently displayed, among which the Nigerian flag blew gently. Here, I had to represent—for God and Country.
Last night, we wrapped up the daily Waka-wakas with a delightfully entertaining game between Philadelphia Tigers and the boys from Orlando. The first experience for all the participants, it was one that deserves a separate essay; it was super fun.
We are still unwrapping Philly in all of its fascinating layers, with the fun visit to China Town and sundry other places.
But up next is the one city every participant looked forward to because of its (filmic) aura, the City of Walter White, Skyler, Elcamino, Saul Goodman and the Breaking Bad Crew: Albaqurque, New Mexico.
*Oladeinde Olawoyin, the Business Editor of Premium Times, shared this piece on social media
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