The Chief Executive Officer of Yellow Card, Chris Maurice, has weighed in on the ongoing global trade tensions particularly between the United States and China, stating that African markets are beginning to feel the ripple effects.

According to him, the continent is experiencing rising currency volatility and economic uncertainty directly linked to these global developments.

“As trade tensions between the United States and China continue to escalate, we’re only beginning to see the impact. Currency pressures and disruptions are starting to appear in countries with significant tariff exposure, such as Lesotho, Côte d’Ivoire, and Ghana,” Maurice said in a virtual interview with GhanaWeb Business.

Available data shows that Ghana faces a 10% reciprocal tariff burden in the current trade climate, while Lesotho and Côte d’Ivoire face 50% and 21%, respectively.

Although Africa’s overall trade exposure to the US remains relatively modest, only 6.5% of exports and 4.4% of imports to certain economies are disproportionately affected.

Despite these challenges, Maurice believes the situation also presents a strategic opportunity for the continent, and a chance to deepen intra-African trade and reduce reliance on external markets.

“This is the moment for African countries to reimagine their trade relationships and invest more in building stronger regional ties,” he added.

Meanwhile, local financial experts have echoed similar sentiments, warning that ongoing global economic shifts could further pressure Ghana’s already fragile cedi and worsen inflationary risks.

SP/AE

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