
<p>Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), reappointed for a second term, has also been named one of Forbes’ 100 Most Powerful Women in the World in 2024, marking her eighth appearance on the list.</p>



<p>In a post on X (formerly Twitter), Okonjo-Iweala celebrated the recognition alongside four other African women: &#8220;Honoured to be on the list of the 2024 Forbes 100 Most Powerful Women in the World, for the 8th time! This is an honor I do not take for granted. I wish to congratulate all my fellow women Honorees, in particular the 4 other African Women on the list – H.E President @SuluhuSamia of Tanzania, H.E Prime Minister @SuminwaJudith of the Democratic Republic of Congo, Ms Mpumi Madisa – CEO of Bidvest, and our very own @MoAbudu. Let’s hope for even more African Women next time!&#8221;</p>



<p>Her tenure as WTO Director-General comes during a period of complex global trade disruptions, where she has been instrumental in pushing for equitable reforms and addressing the needs of developing nations.</p>



<p>In response to her reappointment, Okonjo-Iweala reaffirmed her commitment to the WTO’s mission: &#8220;Today, it is with humility and a great sense of honour that I thank each and every one of the 166 WTO members for the consensus they achieved in supporting my reappointment! Thank you for the wonderful words of recognition and support. I don’t take this lightly. I also want to thank my colleagues in the Secretariat Staff for their dedication and hard work.</p>



<p>&#8220;This is an enormous responsibility and I will redouble my efforts to work with each and every member to try and deliver the results this organization needs, including the necessary reforms to make it fit for 21st century challenges. We’ve done it before, we can do it again! I am also grateful to my family, my country, to the Africa Region, and to all my friends and colleagues from all over the world who have reached out with hundreds of congratulatory messages. Thank you for the recognition!&#8221;</p>



<p>A globally respected economist and finance expert, Okonjo-Iweala’s career spans decades. Educated at Harvard University and earning her doctorate degree from Massachusetts Institute of Technology (MIT), she became a household name during her two terms as Nigeria’s Finance Minister, where her reforms stabilized the economy and secured $18 billion in debt relief. Her bold leadership earned her international acclaim, including the moniker ‘the Iron Lady of Finance’.</p>



<p>She has held the position as WTO Director-General since 2021, making history as the first African and first woman leader to do so.</p>


World Leaders Day At The COP29 Global Climate Talks

Ngozi Okonjo-Iweala Reappointed As WTO Director-General And Also Celebrates Inclusion In Forbes’ 100 Most Powerful Women List For Eighth Time


<p id="h-topline"><strong>TOPLINE</strong> Nigerian economist Ngozi Okonjo-Iweala was appointed Monday as the director-general of the World Trade Organization, becoming the first woman and the first African national to lead the global trade body. </p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<ul class="wp-block-list"><li>After growing up in Nigeria during the Biafran civil war, Okonjo-Iweala studied development economics at Harvard and earned a doctorate at the Massachusetts Institute of Technology.</li></ul>



<ul class="wp-block-list"><li>She has made history throughout her career, becoming the first woman to serve as both the Nigerian finance minister in 2003 and foreign affairs minister in 2006.</li></ul>



<ul class="wp-block-list"><li>Okonjo-Iweala was also the first woman to run for the presidency at the World Bank, where she spent more than two decades.</li></ul>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>The appointment of Okonjo-Iweala clears a major administrative hurdle for the WTO, which has been without an official leader since former director general Roberto Azevêdo stepped down from the position a year early in August. The leadership vacuum came at the same time that the global trade referee faced an upended global supply chain from the pandemic and ongoing tariff disputes between some of the largest economies.&nbsp;</p>



<h3 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h3>



<p>&#8220;A strong WTO is vital if we are to recover fully and rapidly from the devastation wrought by the COVID-19 pandemic,” Okonjo-Iweala said in a statement.&nbsp;</p>



<h3 class="wp-block-heading" id="h-tangent">TANGENT</h3>



<p>The Trump administration refused to back Okonjo-Iweala for the position last fall, saying she lacked trade experience. While 163 other nations coalesced behind Okonjo-Iweala, the U.S. announced in October it would officially back South Korean Trade Minister Yoo Myung-hee in the everyone-must-agree race. But President Joe Biden signaled last week he would reverse efforts to block the appointment, all but ensuring unanimous support of Okonjo-Iweala at the WTO.</p>



<h3 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h3>



<p>When Okonjo-Iweala takes office on March 1, she is set to face significant challenges following gaps in leadership and stalled trade disputes. Former President Donald Trump was highly critical of the WTO and blocked judge appointments on its key decision-making body, upending the organization at the same time that it ramped up global trade disputes.</p>



<h3 class="wp-block-heading" id="h-further-reading">FURTHER READING</h3>



<p><a href="https://www.forbes.com/sites/maggiemcgrath/2020/12/08/power-rising-these-are-the-women-to-watch-in-2021/?sh=f3eb21e767f2">Power Rising: These Are The Women To Watch In 2021</a></p>



<p><a href="https://www.forbesafrica.com/cover-story/2020/12/04/african-of-the-year-ngozi-okonjo-iweala/">African Of The Year: Ngozi Okonjo-Iweala</a></p>



<p><em>By Gina Heeb, Forbes Staff</em></p>



<p><a href="https://www.forbes.com/sites/ginaheeb/"></a></p>


Tag: WTO

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Ngozi Okonjo-Iweala Reappointed As WTO Director-General And Also Celebrates Inclusion In Forbes’ 100 Most Powerful Women List For Eighth Time

Ngozi Okonjo-Iweala Becomes First Woman, African To Lead World Trade Organization