Keypoints:
- US action in Venezuela revives fears of coercive power politics
- Dollar dependence leaves African economies exposed
- PAPSS seen as practical shield against external pressure
THE US military operation that resulted in the capture of Venezuelan President Nicolás Maduro and his transfer to the United States has sent tremors through the global system. Framed by Washington as a counter-narcotics and national security intervention, the move is widely viewed as a dramatic reassertion of American hard power under President Donald Trump.
While Latin America is the immediate theatre, Africa is among the regions most closely studying the fallout. For policymakers and analysts across the continent, the Venezuelan episode revives long-standing concerns about sovereignty, economic coercion and the risks faced by resource-rich regions operating within an unequal global order.
A rupture in restraint and international norms
The seizure of a sitting head of state represents a clear escalation in US foreign policy behaviour. Critics argue the operation bypassed diplomacy, multilateral institutions and principles of non-intervention enshrined in the UN Charter.
Latin American governments, including Mexico, have condemned the action as a violation of international law and a destabilising precedent. Their concern extends beyond Venezuela to the steady erosion of norms that smaller and economically dependent states rely upon for protection.
For Africa, the parallel is stark. From Cold War proxy conflicts to post-9/11 security interventions, the continent has repeatedly experienced how legality is reinterpreted when strategic interests are perceived to be at stake.
Resource politics and selective enforcement
Venezuela’s vast oil reserves inevitably shape perceptions of Washington’s motivations. While US officials cite security threats, critics argue that access to strategic resources and the reassertion of hemispheric dominance are inseparable from the intervention.
This resonates deeply across Africa, home to hydrocarbons, critical minerals and fast-growing markets central to global supply chains. From cobalt in the Democratic Republic of Congo to lithium in southern Africa and oil in the Gulf of Guinea, African resources sit at the heart of intensifying geopolitical competition.
The Venezuelan case reinforces a familiar fear among African strategists: that when diplomacy becomes inconvenient, economic pressure and military force remain readily available tools for dominant powers.
Dollar dominance as a tool of influence
Beyond military power, the episode has renewed scrutiny of financial leverage. The global economy remains anchored to the US dollar, granting Washington exceptional influence through sanctions, access to payment systems and control over liquidity.
African economies are deeply embedded in this architecture. Foreign reserves, trade finance, commodity pricing and external debt are overwhelmingly dollar-denominated. This exposure narrows policy space, heightens vulnerability to currency shocks and increases susceptibility to external pressure.
The Venezuela operation illustrates how military and financial power operate in tandem. Dependence on dollar-based systems limits strategic autonomy even in the absence of overt conflict.
The case for African payment sovereignty
Against this backdrop, calls for African economic and monetary self-reliance have gained urgency. Today’s proponents frame the argument less ideologically and more pragmatically, with growing emphasis on the Pan-African Payments and Settlements System (PAPSS) as a concrete shield against external financial pressure.
By enabling cross-border trade in local currencies, PAPSS reduces dependence on the dollar, lowers transaction costs and limits exposure to sanctions, liquidity shocks and politically driven financial disruptions. Alongside coordinated fiscal policies, advocates see continent-wide payment infrastructure not as an abstract unity project, but as essential economic armour in an era of increasingly weaponised finance.
Rather than waiting for a single continental currency, PAPSS is increasingly viewed as a realistic, scalable step towards monetary resilience.
Revisiting old ideas through a modern lens
The renewed focus on financial sovereignty echoes ideas once championed by former Libyan leader Muammar Gaddafi, who argued that Africa could not achieve genuine independence without control over its monetary systems. His proposal for a gold-backed African currency was controversial, but its core premise remains relevant.
Today’s debate is less ideological and more operational. The emphasis is on payment systems, reserve coordination and intra-African trade settlement rather than grand political symbolism. The objective is insulation, not isolation.
Africa’s heavyweights and strategic risk
Africa’s largest economies – Nigeria, South Africa, Egypt and Kenya – are central to this recalibration. Their scale provides leverage, but also makes them prime targets for financial conditionalities and policy pressure.
Leaders such as Bola Tinubu, Cyril Ramaphosa, William Ruto and Paul Kagame face a delicate balancing act. Western capital remains vital for development, yet overdependence carries strategic risks.
The Venezuelan episode sharpens this dilemma. If sovereignty norms can be overridden in one region, African policymakers must question how secure their own autonomy truly is.
Lessons from Latin America’s response
Latin America’s reaction offers instructive lessons. Mexico’s insistence on non-intervention reflects a diplomatic tradition shaped by repeated exposure to external pressure. Regional solidarity, even amid political differences, has served as a defensive mechanism against unilateral action.
Africa has often struggled to project similar cohesion. While the African Union articulates strong principles, enforcement and collective action remain uneven. The Venezuela crisis underscores how fragmentation weakens leverage when confronting global powers.
Integration as strategic insurance
The African Continental Free Trade Area is increasingly framed as a geopolitical as well as economic project. By deepening intra-African trade, strengthening regional value chains and reducing reliance on external markets, proponents argue the continent can rebalance its position in the global system.
PAPSS provides the financial plumbing to make this integration meaningful. Together, trade liberalisation and payment sovereignty are seen as long-term buffers against external coercion rather than quick fixes.
A warning rather than a prophecy
The US intervention in Venezuela is not a prediction of inevitable action elsewhere, but it is a reminder of how quickly norms erode when power is unevenly distributed. For Africa, the message is less about alarm and more about preparation.
In a world where economic instruments and military force are increasingly intertwined, reliance on goodwill is insufficient. Practical sovereignty demands resilient institutions, independent financial infrastructure and regional coordination.
The storm around Venezuela may pass. But for Africa’s leaders, the lesson endures: unity, particularly in payments and trade, is no longer aspirational. It is becoming a strategic necessity.
