Director General of World Trade Organization Ngozi Okonjo-Iweala met with the Japanese Prime Minister Tuesday during her three-day trip to Japan. “Trade is facing very challenging times right now and it is quite difficult,” she said during the meeting in Tokyo.
The United States and China agreed to roll back most of the tariffs each nation had imposed on the other and declared a 90-day truce in their trade war. U.S. President Donald Trump’s administration said it would reduce the 145% duties it had imposed on imports from China to 30%, while China said it would cut its 125% tariffs on U.S. goods to 10%. Some of the U.S. tariffs — 24 percentage points — will be delayed for 90 days, while the rest of have been removed. “I also feel that there are many important opportunities in trade that we need to look forward to.
And we should try to use this crisis as an opportunity to solve the challenges we have and take advantage of the new trends in trade,” Okonjo-Iweala added. Okonjo-Iweala is also expected to meet Japan’s Foreign Minister, Finance Minister and Economy, Trade and Industry Minister.
Dr. Ngozi Okonjo-Iweala, GCON, Director General, World Trade Organization and Ms. Yvonne Ike, Managing Director & Head of Sub-Saharan Africa (Ex RSA), Bank of AmericaKanayo Adibe | Photographer
Washington, D.C. 5 May 2025-/African Media Agency (AMA)/- African Business Stories (ABS) convened the third edition of its Roundtable Series during the 2025 World Bank Spring Meetings, hosting a high-level dialogue titled “Leveraging Diaspora Investment for Africa’s Economic Growth.” The event featured WTO Director-General Dr. Ngozi Okonjo-Iweala and other leading African and global voices in development and finance.
Launched in September 2024 on the sidelines of the United Nations General Assembly (UNGA) in New York, the ABS Roundtable Series convenes influential stakeholders to address critical barriers to scaling African businesses — with a focus on closing Africa’s $42 billion financing gap for women-owned enterprises and fostering sustainable growth.
Held at the Washington, D.C. offices of Akin Gump Strauss Hauer & Feld LLP, the ABS Roundtable was made possible through the generous support of Akin LLP, Bank of America, and Moneda Invest Africa. Their partnership underscores a shared commitment to advancing Africa’s economic growth through innovative investment, strategic collaboration, and inclusive development. Bank of America’s partnership in this event reflects its ongoing commitment to sustainable growth and inclusive finance across Africa. The firm continues to support initiatives that unlock capital, scale entrepreneurship, and build resilient financial ecosystems.
Opening keynote speakers President Admassu Tadesse, Group President and Managing Director of Trade & Development Bank, and Mrs. Zainab Ahmed, Executive Director at the World Bank and former Nigerian Minister of Finance, set a powerful tone — challenging participants to move beyond traditional aid models and strengthen Africa’s investment readiness.
A dynamic panel discussion followed, featuring Joan Manda (UNDP Timbuktoo Initiative), Barbara Iyayi (Unicorn Growth Capital), and Chidi Blyden (Culturally Bound), moderated by Kenechi Eze (Moneda Invest). The conversation centered on building trust, creating credible financial vehicles, and transforming Africa’s 44 million SMEs into engines of scalable investment.
President Admassu Tadesse, Group President and Managing Director, Trade and Development Bank Group , Ms. Florie Liser, President & CEO Corporate Council on Africa, Ms. Zainab Ahmed, Executive Director for Nigeria, Angola & South Africa, World Bank Group, Dr. Ngozi Okonjo-Iweala, GCON, Director General, World Trade Organization, Ms. Akaego Okoye, Founder African Business Stories/Convener ABS Roundtable Series and Ms. Yvonne Ike, Managing Director & Head of Sub-Saharan Africa (Ex RSA), Bank of America.Kanayo Adibe | Photographer
The event culminated in an inspiring fireside chat with Dr. Okonjo-Iweala, moderated by Ms. Yvonne Ike, Managing Director at Bank of America and Head of Sub-Saharan Africa (ex-RSA). Addressing a room of investors, policymakers, and entrepreneurs, Dr. Okonjo-Iweala called for a decisive shift away from reliance on foreign aid, urging African countries to mobilize domestic resources, attract private sector investment, and build institutional trust. She emphasized the pivotal moment Africa faces in the global economy:
“Africa’s opportunity lies not in aid — but in adding value, building trust, and using our resources wisely,” said Dr. Okonjo-Iweala.
She stressed that Africa’s critical minerals must be leveraged strategically to drive industrialization rather than perpetuate dependence on raw exports:
“Our critical minerals are in demand — but instead of giving them away raw, we must negotiate smartly, add value locally, create jobs, and become a true hub of global manufacturing and innovation.”
Dr. Okonjo-Iweala also addressed the impacts of global economic shifts — from trade disruptions to shrinking aid budgets — and stressed the urgency of regional collaboration, transparent governance, and strategic investment facilitation to attract both diaspora and global capital.
Closing the session, Dr. Okonjo-Iweala encouraged African entrepreneurs, leaders, and the diaspora to recognize their individual agency:
“Even solving one problem or building one enterprise can have ripple effects across the continent. Everyone has a role to play in building Africa’s future.”
“Events like this roundtable are vital platforms to foster collaboration, deepen trust, and unlock the entrepreneurial potential that exists both within Africa and among its global diaspora,” said Yvonne Ike, Managing Director and Head of Sub-Saharan Africa (ex-RSA) at Bank of America. “It was an honor to join this important dialogue and help shape conversations that will drive long-term impact.”
Participants committed to deepening collaboration with the African diaspora, creating credible financial structures, and expanding access to capital for the continent’s 44 million SMEs—key pillars for long-term growth.
Akaego Okoye, Founder of African Business Stories and Convener of the ABS Roundtable Series, added:
“Diaspora investment is not just about capital; it’s about building ecosystems and reshaping Africa’s economic narrative. We are proud to create a platform where action-oriented conversations drive real change.”
African Business Stories (ABS) is a platform dedicated to unlocking investment for women-led businesses in Africa by telling their stories and connecting them to investors, resources, and key decision-makers. Through storytelling, strategic convenings, and ecosystem-building initiatives, ABS creates high-impact pathways that accelerate the growth and visibility of female entrepreneurs across the continent.
BLANTYRE-(MaraviPost)-Former Malawi President Dr. Joyce Banda joined the rest of women in a network of women forming the Supporting Advancement of Gender Equality (SAGE) Initiative in congratulating President Mahammadu Buhari and the people of Nigeria for the support rendered to the effective processes of electing Ngozi Okonjo-Iweala as the first female Director General of the World Trade Organization (WTO).
Dr. Banda said this at an event to commemorate World International Women’s Day. Both President Buhari and Dr. Joyce Banda attended the event held virtually.
Nigeria’s Minister of Women Affairs, Dame Pauline Tallen, organised the courtesy meeting on behalf of the Supporting Advancement of Gender Equality (SAGE) initiative.
According to Tallen, the meeting was organized in a quest to thank President Buhari for his work to advance women’s representation in Nigeria and call for President Buhari’s support for a gender quota in the Nigerian parliament.
Dr. Banda who was invited to the meeting as a special guest delivered her address calling upon all relevant stakeholders to work on finding means that would provide fertile ground for women empowerment.
“As a member of the African Women Leaders Network Steering Committee, I would like first to thank you most sincerely for the role you played in supporting the candidature of Dr Ngozi Okonyo-Iweala that led to her appointment as the first African and African Woman to assume the position of WTO Executive Director. Secondly, I would like to thank the young people of Nigeria, men and women who fought gallantly through their voice to make this happen,” said Banda.
The former Malawi leader further said, “ Let me reiterate what our Nigerian colleagues have stated, we know that with a leader like you, Nigeria has all it takes to join 14 other African countries that have at least 30 percent of seats held by women in their national legislatures.”
Currently, Nigeria is placed 185 out of 190 ranked countries in the world for its percentage of women in parliament. Dr. Banda said the ongoing constitutional review process provides a unique opportunity to improve women’s political representation.
“We join the women and men of your great country to ask for your support for a 35 percent gender quota in the ongoing constitutional review process,” said Banda.
The former Malawi President believe that the leadership in Nigeria will see to it that the constitutional amendment proposal is passed at the national and state parliaments.
“You have already done so much for Nigeria, West Africa and Africa, and as a former president, I can say Mr. President, this will be one of the greatest legacies for which you will always be remembered for,” she said
Okonjo-Iweala previously served as Nigeria’s finance minister on two occasions and once as a foreign affairs minister.
She also served as former managing director of the World Bank.
On her first day at work who took the floor at a WTO meeting for the first time as Director-General, attending the General Council.
She and the chair of WTO fisheries subsidies talks, welcomed civil society’s plea for a successful conclusion to the negotiations.
– –
She also visited an ice sculpture set up in front of the WTO headquarters by the #StopFundingOverfishing coalition.
Director-General @NOIweala & the chair of WTO fisheries subsidies talks @WillsSantiago welcomed civil society’s plea for a successful conclusion to the negotiations, visiting today an ice sculpture set up in front of the WTO headquarters by the #StopFundingOverfishing coalition. pic.twitter.com/9Y5eN4Bh5y
Senior African leaders at the UN are unhappy with media coverage of the first female boss of the World Trade Organization (WTO), Ngozi Okonjo-Iweala.
The WTO this month announced officially the appointment of Ngozi Okonjo-Iweala as its new director-general.
The former Nigerian finance minister Ngozi will take over the role effective March 1, becoming the first woman and also African to lead the institution.
But reportage on her historic appointment has been criticised by African UN leaders who say “sexist and racist” language used in coverage of the appointment.
Members of the UN senior African group (Unsag) – including Phumzile Mlambo-Ngcuka, head of UN Women, Winnie Byanyima, who leads UNAids, and Vera Songwe, the executive secretary of the UN Economic Commission for Africa have expressed their concerns in a letter.
– –
According to them the language used in some media to describe Okonjo-Iweala’s appointment was “offensive, sexist and racist in a world where both public and private sector leadership is dominated by ageing Caucasian men, who are revered for the experience and skills they bring and have never been characterised by their lineage and offspring”.
One headline in the Swiss daily newspaper Luzerner Zeitung originally read: “This grandmother will become the boss of the WTO.” The headline was later changed.
Mlambo-Ngcuka, co-chair of Unsag, told the Guardian that “There is a lot of prejudice against women in leadership that is just refusing to go away. We see it when it comes to female politicians or at grassroots level.”
“When men ascend [to power] at a later age, we celebrate their experience and accomplishments,” said Mlambo-Ngcuka.
– –
“No one talks about them as a grandfathers, it’s not a relevant talking point.”
Ngozi previously served as Nigeria’s finance minister on two occasions and once as a foreign affairs minister.
The 66-year old also served as former managing director of the World Bank and as a chairperson at the Global Alliance for Vaccines and Immunization.
Shortly after her appointment she was is ready to tackle the challenges of the institution.
She said “In the 73 years of GATT and WTO, honored to be First Woman and First African to lead.
But now the real work begins. Ready to tackle the challenges of WTO. Forget Business as usual!”
It is done! Thank you @WTO members for finalizing my election today and making history. In the 73 years of GATT and WTO, honored to be First Woman and First African to lead. But now the real work begins. Ready to tackle the challenges of WTO. Forget Business as usual! pic.twitter.com/apnAalHWf5
Okonjo-Iweala is to succeed Brazilian Roberto Azevedo, who unexpectedly left the WTO at the end of August 2020, a year early than expected.
– –
Reacting to her new appointment, the 66-year old said thank you to “WTO members for finalizing my election today and making history.
In the 73 years of GATT and WTO, honored to be First Woman and First African to lead.
But now the real work begins. Ready to tackle the challenges of WTO. Forget Business as usual!”
It is done! Thank you @WTO members for finalizing my election today and making history. In the 73 years of GATT and WTO, honored to be First Woman and First African to lead. But now the real work begins. Ready to tackle the challenges of WTO. Forget Business as usual! pic.twitter.com/apnAalHWf5
The World Trade Organization (WTO) on Monday announced officially the appointment of former Nigeria’s finance minister Ngozi Okonjo-Iweala as its new director-general.
Ngozi will take over the role effective March 1, becoming the first woman and also African to lead the institution.
Her appointment was made shortly after WTO held a special general council meeting on Monday.
BREAKING: Ngozi Okonjo-Iweala from Nigeria is appointed as the next WTO Director-General.
Dr. Okonjo-Iweala makes history as the first woman and the first African to lead the WTO.
In October 2020, Okonjo-Iweala secured 104 out of 164 votes to head the World Trade Organization.
– –
She was the only African left in the race at the time and beat South Korea’s Yoo Myung-hee for the top role.
Member countries in the European Union and ECOWAS all endorsed her candidacy but the USA under former president Trump opposed her candidacy.
That forced the General Counsel to postpone the announcement of the new Director-General.
South Korean Trade Minister Yoo Myung-hee withdrew her candidacy this year following consultations with the US who backed her as well as other countries.
– –
The USA under President Joe Biden subsequently endorsed Okonjo-Iweala’s candidacy paving way for the formal announcement.
Okonjo-Iweala should succeed Brazilian Roberto Azevedo, who unexpectedly left the WTO at the end of August 2020, a year early than expected.
Nigeria’s Ngozi Okonjo-Iweala has spoken out for the first time since the United States held up her appointment as new boss of the World Trade Organisation.
On Wednesday Okonjo-Iweala secured majority of votes to become the first African to head the World Trade Organization.
Member countries in the European Union and ECOWAS all endorsed her candidacy.
Okonjo-Iweala who was the only African left in the race beat South Korea’s Yoo Myung-hee for the top role.
But the United States’ opposition to her candidacy forced the General Counsel to postponed its announcement of the new Director-General.
– –
In a statement on Twitter, Okonjo-Iweala said she was “Happy for the success & continued progress of our WTO Director General bid.”
She also revealed how humbled she was “to be declared the candidate with the largest, broadest support among members & most likely to attract consensus.”
“We move on to the next step on Nov 9, despite hiccups. We’re keeping the positivity going!” she added.
Happy for the success & continued progress of our @wto DG bid. Very humbled to be declared the candidate with the largest, broadest support among members & most likely to attract consensus. We move on to the next step on Nov 9, despite hiccups. We’re keeping the positivity going!
A further meeting will now take place on November 9; after the US presidential elections to complete the process.
– –
Once the process is completed next month, Okonjo-Iweala should succeed Brazilian Roberto Azevedo, who unexpectedly left the WTO at the end of August, a year early.
Okonjo-Iweala previously served as Nigeria’s finance minister on two occasions and once as a foreign affairs minister.
She also served as former managing director of the World Bank and as a chairperson at the Global Alliance for Vaccines and Immunization.
NEW YORK-(MaraviPost)-The United States has opened up on why it opposed the election of Ngozi Okonjo-Iweala as the next director-general of the World Trade Organisation (WTO).
US trade representative in a statement on Wednesday said the WTO is in dire need of reform and must be “led by someone with real, hands-on experience in the field”.
The USTR led by Robert Lighthizer said the United States supports the selection of Korean Trade Minister Yoo Myung-hee as the next WTO Director-General.
“Minister Yoo is a bona fide trade expert who has distinguished herself during a 25-year career as a successful trade negotiator and trade policy maker. She has all the skills necessary to be an effective leader of the organization.
“This is a very difficult time for the WTO and international trade. There have been no multilateral tariff negotiations in 25 years, the dispute settlement system has gotten out of control, and too few members fulfill basic transparency obligations.
“The WTO is badly in need of major reform. It must be led by someone with real, hands-on experience in the field.”
The argument against Okonjo-Iweala has always been that she has no direct trade experience.
However, in July, the former Nigeria’s Minister of finance, Ngozi Okonjo-Iweala refuted the claim while addressing the WTO.
“I am a development economist and you cannot do that without looking at trade. Trade is a central part of development. So, I have been doing it. My whole career at the World Bank, I was working on trade policy reform in middle and low-income countries at the bank,” she said.
“As finance minister, the customs service in my country reported to me. And that is all about trade facilitation. I helped my country’s negotiation with my trade minister on the ECOWAS common external tariffs. I don’t know how much more trade you can have than that.
“So those who say I don’t have trade, they are mistaken. I think the qualities I have are even better, because I combine development economics with trade knowledge, along with finance, and you need those combination of skills to lead the WTO. I think I have the skills that are needed. I am a trade person.”
Okonjo-Iweala on Wednesday had won the popular vote to become the next DG and had the nod of the three ambassadors saddled with the responsibility of picking the next leader of the trade body.
But at a WTO delegates meeting to discuss the appointment, the US expressed opposition to her election — the US was the only country opposing her election.
Keith Rockwell, the spokesman of the WTO, said just one member country did not support Okonjo-Iweala.
“All of the delegations that expressed their views today expressed very strong support for the outcome, except for one,” he said.
The WTO reconvenes on November 9, 2020 after the US election to decide who becomes the next DG.
Source: www.expressiveinfo.com
Malawi breaking news and World News. News about Malawi, Malawi Business, Malawi Tourism, Malawi Politics, Malawi News, World and Africa Top News.
