MTN CEO Warns of Economic Fallout from U.S. Tariff...

MTN CEO Warns of Economic Fallout from U.S. Tariffs, Aid Cuts

Oscar J Jeke- Zim Now Reporter

MTN Group CEO Ralph Mupita has raised alarm over the potential economic ripple effects of Donald Trump’s tariff policies and significant cuts in Western aid, cautioning that these developments could erode disposable incomes and drive up the cost of living across MTN’s African markets.

Mupita’s comments come amid growing anxiety over how shifting global economic policies—particularly those originating from the United States and other donor nations—could destabilise African economies, especially in regions heavily reliant on foreign aid.

Speaking on the global economic outlook, Mupita stressed that geopolitical decisions made far beyond Africa’s borders can trigger indirect but substantial consequences for the continent.

“One of the short-term impacts we need to assess is what happens with the pullback of aid funding, particularly from the Global North. Some of our regions depend on that funding, and the fiscal gap left behind is something we must closely monitor over the next few quarters,” Mupita said.

MTN, which boasts a customer base of 291 million across over 20 countries, is particularly concerned about recent decisions by the United States Agency for International Development.

Following a six-week review ordered by U.S. Secretary of State Marco Rubio, USAID has slashed its global budget by a staggering 83%, resulting in the termination of 5,200 projects worldwide.

With tightening fiscal space and reduced external support, Mupita warned that households and businesses in Africa could feel the pinch, potentially hampering economic growth and stability in key MTN markets.