“To increase its share of world trade, Africa has to add more value instead of exporting … unprocessed products,” she said, calling for stronger local value chains so more processing and manufacturing happens on the continent. “What Africa needs is for the value chains to be created on the continent … and therefore, creation of jobs.”

Okonjo-Iweala said Africa has the resources to shift its model, pointing to the continent’s hold over about 30% of the world’s critical minerals and around 60% of renewable solar potential, assets that could support industrial development if paired with investment, infrastructure and trade-friendly policies.

While the country has been trying to diversify, its exports remain heavily concentrated in primary goods. Data cited from UNCTAD’s Data Hub and the World Bank’s WITS shows Malawi’s merchandise exports have fallen from about $1.3 billion in 2014 to roughly $950 million in recent years, and commodities still dominate the basket.

Between 2021 and 2023, commodities accounted for about 91% of Malawi’s export earnings, driven largely by agricultural products such as tobacco, underscoring how difficult it has been to build a pipeline from farm or mine to factory.

Business leaders say the shift to value-added exports is possible, but will need targeted support. Daisy Kambalame, chief executive of the Malawi Confederation of Chambers of Commerce and Industry, said moving up the value chain would boost foreign earnings and competitiveness, but only if the manufacturing base is strengthened.

Malawi’s government has rolled out policies such as the National Export Strategy (2021-2026) and a “Buy Malawi” push to encourage local production and wider export markets.

She said these shifts present a chance for Nigeria to secure new investments that could create jobs, strengthen manufacturing and reduce reliance on imports.

“There is an opportunity now to attract these supply chains,” she said , stressing that Nigeria must deliberately market itself to investors. “Everything we can do to showcase Nigeria as a country worthy of investment is what we should be doing.”

Okonjo-Iweala said Nigeria needs to move beyond economic stabilisation and focus more directly on job creation, noting that reforms currently underway must translate into employment and industrial growth. She urged the government to identify sectors where Nigeria has strong potential and actively court investors from major economies, including China and the United States .

“As companies seek to diversify supply chains, a lot of that movement is still within Asia,” she said, adding that Nigeria should aim to attract a meaningful share of that relocation, even if it cannot capture all of it. Okonjo-Iweala highlighted renewable energy and textiles as examples of industries where Nigeria could manufacture locally instead of importing finished products.

“Let’s build solar panels in Nigeria. We are importing, but we can also manufacture,” she said. “In fashion, let them come to invest. Many of the textiles we wear are not made in Nigeria; they are imported.”

She said Nigeria’s success would depend on having clear strategies to target.

Brazil is bracing for impact as the US’s unprecedented 50% tariffs on most imported goods take effect on August 6. Only 700 goods will be exempted from the sweeping tariff, which is projected to affect R$175 billion of Brazil’s annual export revenue. US President Donald Trump’s move places additional pressure on Brazil’s already strained economy, which is facing a 76.1% debt-to-GDP ratio and a R$104 billion fiscal deficit.

Supreme Court orders house arrest of ex-president Bolsonaro

Former Brazilian president Jair Bolsonaro has been placed under stricter house arrest after violating earlier court-imposed restrictions related to his ongoing coup plot trial. The Supreme Court had previously barred Bolsonaro from using social media and confined him to nighttime and weekend house arrest. However, he continued to communicate through the social media accounts of his children and supporters, prompting the court to tighten the measures. The development comes as the US prepares to enforce a 50% tariff on nearly all Brazilian exports — a move by President Donald Trump that observers link to the alleged political persecution of Bolsonaro, with whom he has close ties.

Pushback from Brazil as WTO intervention sought over US tariffs

Brazil is preparing to formally contest the US’s unprecedented 50% tariffs at the World Trade Organisation (WTO) a day before they take effect on August 6. These tariffs impact roughly 35% of Brazil’s exports to the US, although key products like energy and certain minerals are excluded. Brazil’s Chamber of Foreign Trade approved a proposal to launch formal consultations at the WTO, the first step in a dispute resolution process. The council of ministers has referred the matter to President Luiz Inácio Lula da Silva, who will decide when to proceed.

Brazil launches $90 billion plan to transform urban transport

Brazil has unveiled a historic R$500 billion (US$90 billion) national plan to overhaul urban public transport over the next 30 years, targeting 21 major metropolitan regions that house nearly half the country’s population. According to a new study by the Brazilian Development Bank (BNDES) and the Ministry of Cities, the strategy aims to add 2,500 kilometres of rapid transit — including metro, rail, BRT, and bus corridors — by 2054. The goal is to ensure 80% of residents live within one kilometre of a transit station.

Lula condemns US tariffs as ‘economic blackmail’

Brazilian President Luiz Inácio Lula da Silva has accused the US of using economic pressure for political purposes, calling the 50% tariff on Brazilian goods “economic blackmail.” Speaking at a Workers’ Party event in Brasília, Lula condemned the move by US President Donald Trump and said Brazil would not bow to “unequal treatment.” The tariff, set to take effect on 6 August, would be the highest the US has imposed on any country.

Egypt's President Abdel-Fattah El-Sisi and US President Joe Biden discussed joint efforts by Egypt, Qatar, and the US to ease tensions in Gaza, achieve a ceasefire, conduct a prisoner exchange, and facilitate humanitarian aid entry into the region. El-Sisi emphasised the urgent need for a sustainable ceasefire in Gaza to ensure unimpeded access to aid for Palestinian civilians affected by the humanitarian crisis resulting from Israel's aggressive actions, Ahram Online reports. He cautioned against military escalation and civilian targeting, condemning such acts as clear violations of international law. Biden, on the other hand, appreciated ongoing collaborative efforts for a truce, prioritising stability restoration in the region, and praised Egypt's political initiatives and humanitarian aid provision to Gaza. Egypt has vehemently condemned the inhumane targeting by Israel of a group of unarmed Palestinian civilians awaiting humanitarian aid trucks at the Nabulsi roundabout in northern Gaza. The attack resulted in the tragic loss and injury of hundreds of Palestinians.

Medical tourism

Egypt's Prime Minister, Mostafa Madbouly, announced the initiation of a comprehensive developmental vision to transform distinctive locations into hubs for medical tourism. Speaking at the inauguration of the second international exhibition and conference for Egyptian medical tourism applications in the New Administrative Capital, the Prime Minister highlighted the collaborative efforts between the Egyptian state and the private sector in developing these unique destinations, Ahram Online reports. He emphasised that these locations possess special geographical features that make them ideal for global medical tourism. Madbouly noted that medical tourism serves as a significant source of direct foreign investment. During the conference, Egypt's first medical and health resort, with investments totaling $1.5 billion, was launched in Giza's El-Saff city.

Oil and gas projects

Egypt's Minister of Petroleum and Mineral Resources, Tarek El Molla, held discussions with Qatar's Minister of State for Energy Affairs, Saad bin Sherida Al Kaabi, aimed at enhancing cooperation in the energy sector. They explored opportunities for Qatari companies to engage in oil and gas research and exploration through international auctions in Egypt. Additionally, talks involved the potential participation of Qatari entities in new refining and petrochemical projects, aligning with Egypt's objective of maximizing the value of natural resources, Daily News Egypt has reported. The ministers also exchanged perspectives on energy source security and developments in the liquefied natural gas markets. El Molla engaged with the energy ministers of Russia and Venezuela, along with the Secretary-General of OPEC, during the 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum. Discussions included enhancing bilateral cooperation, strengthening relations, and supporting priorities proposed by Russia in the energy field within the BRICS group. The Egyptian Petroleum Minister also explored opportunities for Egyptian companies to participate in oil and gas infrastructure projects in Venezuela.

Bird influenza

Governor Jamal Nour El-Din of Kafr El-Sheikh announced on Sunday the successful immunization of 63,930 assorted birds against infectious diseases, including the vaccination of 7,000 birds against avian influenza. This initiative is part of the state's leading efforts to shield birds from viruses and pandemics, ensuring the overall health of citizens, Gomhuria Online reports. The Deputy Minister of Agriculture and Director of the Veterinary Medicine Directorate in Kafr El-Sheikh, Dr. Mohamed Beshar, highlighted the importance of vaccination in reducing virus spread, ensuring food safety, and preventing diseases from reaching poultry products. He also mentioned the ongoing disinfection operations in markets and poultry-selling establishments. He added that the continuous commitment to immunisation and disease prevention reflects the proactive approach of authorities in Kafr El-Sheikh in promoting a sustainable and disease-free environment.

Multilateral trade system

Egypt's Minister of Trade and Industry, Ahmed Samir, recently engaged in discussions with the Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, in a bid to bolster the multilateral trade system's resilience amidst global challenges. Samir reiterated Egypt's steadfast support for the multilateral trade framework and its readiness to collaborate with all WTO member states to reinforce confidence in the organisation's pivotal role in tackling unprecedented global challenges, DailyNews Egypt reports. He emphasised the need to enhance food security, particularly in least-developed and net-food-importing developing countries. Minister Samir emphasised the importance of empowering these nations with adequate resources and strategies to bolster domestic production of essential goods. During his visit to Abu Dhabi, Minister Samir participated in a session on fisheries subsidies, conducted alongside the 13th WTO Ministerial Conference from February 26 to 29, 2024. The session aimed to reach an agreement on eliminating subsidies that exacerbate overfishing and excess fishing capacity. This initiative aligns with previous agreements aimed at combating illegal, unreported, and unregulated fishing, further demonstrating Egypt's commitment to sustainable global trade practices.

At a press briefing on November 8 following the approval, Vice President Ahmed Afif said,  "We have a policy that protects our local industry but the way to do it properly and since we became a member of the  World Trade Organisation (WTO) in 2015, we protected certain industries but the way to protect them even more is through legislation."

Mr Afif added that the country’s new approach will be in accordance with the island nation's international trade commitments.

“We can, for example, stop certain products being brought to Seychelles at a low price, which is called dumping, simply to kill the local market that produces the same thing and then raise their prices…If we don't have legislation, it is difficult to stop certain products from coming in because most things that come to Seychelles do not need permits. We cannot just refuse entry, there must be a basis, and legislation will allow the government to stop a company or products coming in because it is against our legislation," Mr Afif is quoted.

In 2015, Seychelles became the 161st member of the World Trade Organisation after 20 years of negotiating its terms with the organisation.