Economics

Africa Must Curb its Reliance on Outside Money, Godongwana Says

Enoch GodongwanaPhotographer: Dwayne Senior/Bloomberg

Africa faces a “distressing decline” in foreign health aid and should raise more money domestically, including via taxes on tobacco and alcohol, said South African Finance Minister Enoch Godongwana.

“Our continent’s health sector is facing a phalanx of multiple crises,” he told an African Union event in Johannesburg on Thursday. Africa must “take charge in strengthening the resilience of our health financing whilst strategically weaning ourselves off external financing that is becoming less reliable.”