As global trade faces turbulence from Trump’s tariffs and China scales back its investments in Africa, Europe is stepping up to position itself as a reliable long-term partner for the continent. Speaking at the EU-Kenya Business Forum, European Investment Bank (EIB) Vice President Thomas Ostros emphasized that Europe offers partnerships on equal footing to Africa amidst growing global uncertainty.
Ostros also raised concerns about the Trump administration’s trade policy, which places baseline US tariffs on 29 African nations and imposes levies as high as 50% on others. He warned that such policies could potentially erode global wealth, especially in the US.
Meanwhile, the European Investment Bank (EIB), known for lending over $5 billion annually in Africa, is actively seeking out key projects on the continent. This includes support for Kenya’s rapid bus system and a $110 million loan to Family Bank aimed at financing small and medium-sized enterprises (SMEs).
