“Today, everyone recognises that trade is as much a security issue as an economic one.” European Central Bank president Christine Lagarde made this comment in February 2026, while addressing the Munich Security Conference. Although she was speaking about Europe, her words matter profoundly for Africa. The continent’s 54 economies face a three-way tension that has no easy resolution. Firstly, they must stay integrated enough with the world economy to grow. Secondly, they must pull back enough to