Africa faces escalating debt challenges exacerbated by external shocks, currency volatility, and unfavourable borrowing conditions. In 2024, debt servicing costs soared to $90 billion, straining public finances and hindering progress toward the SDGs. A key solution lies in expanding local currency (LC) lending by multilateral development banks (MDBs). LC lending reduces exchange rate risks, enhances debt sustainability, and fosters economic resilience. Strategic steps include scaling up direct LC loans, improving debt management systems, and incentivizing LC borrowing through policy reforms. Upcoming global forums provide opportunities to advocate for Africa-led solutions.
News Articles
11 November 2024
Despite progress over the past 10 years to promote and protect the human rights of Black people worldwide, racism and discrimination persist, the President of the UN General Assembly President said recently.
01 November 2024
STEM education is emerging as a critical lever for Africa's economic future, aligning closely with the AU’s Agenda 2063 and the UN's 2030 goals. To accelerate progress, African leaders are called to boost STEM funding to at least 20 percent of national educaion budgets for education. This could generate a robust innovation ecosystem, reduce dependency on external technology, and unlock Africa's demographic dividend—ultimately positioning the continent as a leader in sustainable, knowledge-based growth.
28 October 2024
The United Nations has a new self-paced course on actionable solutions tailored to Africa’s specific needs. Participants will gain insights into the role of domestic resource mobilization and robust institutions in tackling Africa's triple paradox.
17 October 2024
Over 70 percent of women-led businesses in Africa have insufficient access to financial services, and many operate in the informal sector where they lack legal protections. The African Continental Free Trade Area (AfCFTA) presents a promising opportunity for economic growth and development across the continent. Women should play a central role in benefiting from AfCFTA, and there is a critical need for targeted interventions that can empower female entrepreneurs.
Leveraging geographical indications to increase the value of strategic African agricultural products
30 September 2024
Africa stands at a pivotal crossroads, with innovation and proactive policymaking poised to unlock the continent's vast agricultural potential. Geographical Indications (GIs) are a powerful tool that can protect the unique qualities and characteristics of agricultural products linked to specific regions. By associating products with their geographic origin, GIs can help differentiate African goods in both local and international markets. This differentiation can lead to improved prices and increased demand, creating incentives for local producers to invest in quality and sustainability.
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