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. ADVERTISEMENT CONTINUE READING BELOWStill, Washington’s pivot creates an opportunity for Africa to flex its leverage as a vital source of critical minerals and other scarce resources, for which the West is competing with China and others from the Global South. “The prospect of a multipolar world presents the African continent with opportunities to break free from old modes of development and trade,” Godongwana said. “New forms of multilateral cooperation and new partnerships for development are being forged, quite literally as we speak.”© 2025 BloombergFollow Moneyweb’s in-depth finance and business news on WhatsApp here.