From the American People
On September 15, 2001—just four days after 9/11—I walked into my new boarding school and saw the words “From the American People” under the USAID logo. In that moment, I decided—I was Team America for life.
Of course, most people can be forgiven for not realizing? USAIDs work in Africa goes beyond funding political dissidents and forcing developing countries to decriminalize homosexuality. Partnerships like the one that built my school, Loyola Jesuit College, don’t happen that often anymore. So, when I read in Project 2025 that USAID might get shut down under a Trump Administration, I wasn’t surprised.
But the way they went about it was unnecessary cruel and foolish.
Take my firm’s experience for example. I am quite vocal about staying away from government money, but this $750,000 USAID milestone based grant made sense. It was meant to boost U.S. investment in Africa, and I took it for two simple reasons. One, I believe America is the best place for our companies to grow because it has the biggest pool of capital. Two, no one was better suited for the job. In the past 10 years, we’ve built and funded over 100 Delaware-based startups that raised over $2 billion from U.S. investors and are now worth over $6 billion. Other countries asked us to do the same for them, but I said no—America would be our only partner.
So imagine my shock when, less than 20 days before our next program, we got a vague “stop work” order from USAID. By then, we had sent out announcements, booked venues, and were just three days away from telling the finalists they made it into Accelerate Africa. I have informed our American colleagues while I am thankful for their support in times past we cannot stop Accelerate Africa for anyone. We will simply have to go ahead without them. It has been a bit rough covering the financial losses involved but we trust God to provide. I silently mused to myself though that if the tables were turned we would have been branded a Nigerian fraud but it is what it is.
Now, I’m not mad about how the Trump administration chooses to spend US tax payers money. (Though, as the only non U.S. citizen in my family and given I own several American businesses, I pay those taxes too.) And let’s be real—America isn’t the first to cut foreign aid. Even the European countries complaining about USAID shutting down have been doing the exact same thing - cutting aid and making international development subservient to foreign policy goals.
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But none of them were foolish enough do this so abruptly and disruptively in such a disrespectful manner. My situation was a small business issue but reading and seeing the life and death lurch in which it left people in real need was gut wrenching for me. It really didn't have to be done this way.
This is not about money. This is about risking the one thing America cannot afford to lose with allies all over the world like myself - trust. An America whose word the world cannot trust will not be safe, strong or prosperous. To keep America first, America needs to be a country that keeps its word because an America that cannot keep its word does not deserve to lead the world.
There’s a saying: People might forget what you did, but they’ll never forget how you made them feel.
And honestly? I didn’t like how America made me feel these past few weeks. I always thought we were partners. But for a brief moment, I felt like a beggar, looking up at an unpredictable maniac with all the power.
The damage is done but one thing is for sure— by the grace of God we will do everything we can to never be in this position again.
President @ 4africa | Leading Transformational Change, International Development
3 天前Pt 3. Last one I swear Don’t get me wrong, I really hate the impact that this will have on millions of lives. Some of the most vulnerable. I know there were plenty of other ways to do this. But consider our political system. The reality is they (republicans) have 2 years before they likely lose control of the house or senate due to midterm elections. After that, we will be back to a standstill. Had they gone a “softer” route of ending/reducing funding gradually, it would’ve never been done because of how long things take in our government to get done, only to be overturned or stonewalled by the next admin. I do hope and pray that what comes out of this is a revised approach to our way of providing aid, but my other hope is the entrepreneurs, leaders like yourself, see how aid pushed out marketplace solutions (impossible to compete with “free” money) and this spurs on a massive revolution for Africa to truly take hold of and control of its future. I’ll jump off my soap box now. Haha sorry for the long rant. Grateful for you and your community. Hope to catch up soon with you
President @ 4africa | Leading Transformational Change, International Development
3 天前Pt. 2 - Logic and financial reality As a very successful business person, I know you are constantly looking at balance sheets, cash flows, etc., so one point that I haven’t seen made on this thread, and am surprised by this, is the financial one. At this moment the US is $35T in debt. Our total collected federal revenue was $4.92T last year. Our federal budget for this fiscal year is $6.8T. In FY24, we had a $1.9T deficit. Now, ha and not being a smart*ss here, you tell me if you think that is wise to continue to operate this way? Would you ever invest in a business that has a 62% debt to revenue coverage ratio, let alone a 6.75 to 1 debt to revenue ratio? And we are not talking about a “start up”haha. This is a blue chip “cruise ship” that isn’t innovation to do the hard things, hardly any cost conscious/controls, and not in early seed funding stage. This is what I wish people talked about more. The financial future/heath of the US is truly untenable. The hard reality is, in any operation when one is in this situation, everythings on the table to cut, every single dollar matters. Normally the first to go are the things that have the less amount of impact on your clients (taxpayers), which was USAID, but it’s just beginning.
President @ 4africa | Leading Transformational Change, International Development
3 天前Iyinoluwa Aboyeji I appreciate you posting this, sharing your thoughts, and generating the responses the post delivered. As an American, but someone who has spent the last decade and half on and off the continent in some of the most challenging places (South Sudan mainly), there is no doubt this will impact the continent deeply across the social, economic, and political spectrum (just to name a few, it’ll likely touch every “sphere). While you’ve made it clear that the abruptness of this decision is what your are frustrated by, the reality is (someone else commented this already) go review any USAID funded contract (direct or indirect) and there is 100% a provision for terminating the contract. Having personally reviewed and applied for USAID funding, I know this to be true. So the point about “breaking trust” can be debated, but the reality is any “contract” at its most basic form, is there to layout expectations and provisions for termination. USAID has a contract with these groups, not a covenant. Pt. 1
Energy | Technology | Business Development | Facility Management
6 天前There is probably a clause in your contract with USAID that allows them to withdraw support without adequate notice
Director | Business and Finance Leader | Governance, Risk and Control Expert | Transforming Businesses to achieve Sustainable Growth
2 周Trust for sure, is a valuable currency.