As Africa continues to grapple with an escalating debt crisis, Chair of the Board of Trustees of the African Forum and Network on Debt and Development (AFRODAD), Barbara Kalima-Phiri, has called for restorative justice and systemic reform across the continent.

According to AFRODAD’s Debt Heat Map based on data from the IMF and World Bank, 22 African countries are currently in debt distress or at high risk of debt distress.

Four nations, namely Chad, Ethiopia, Ghana, and Zambia, have already defaulted, while seven countries now spend more on debt interest than on education, and 25 spend more on debt interest than on health, according to UNCTAD’s 2023 report.

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Speaking at the Africa Conference on Debt and Development in Accra, Kalima-Phiri stated that Africa is operating in a rigged international system that will not let it prosper.

“Our demand for restorative justice should not just be about acknowledging the truth and saying ‘we are deeply sorry’ about what happened in the past. It must be about rebuilding systems that serve our people,” she stated.

Africa’s total public debt has surged to $2.14 trillion in 2024, up from $1.8 trillion in 2022.

External debt servicing is projected at $88.7 billion in 2025, nearly matching the previous year’s figure of $89.4 billion.

“These numbers are not by accident but by design,” Kalima-Phiri said.

Referencing historical injustices such as colonial exploitation and the transatlantic slave trade, she called for a collective commitment to healing and rebuilding Africa’s governance and accountability systems in ways that are equitable, inclusive, and empowering.

Kalima-Phiri also highlighted ongoing African-led initiatives aimed at reclaiming economic sovereignty, including the establishment of an Africa Credit Rating Agency, the implementation of the African Continental Free Trade Area (AfCFTA), and the advancement of Agenda 2063, the African Union’s blueprint for inclusive growth and sustainable development.

Her remarks come amid growing calls for a reimagined global financial architecture - one that recognises Africa not as a passive recipient of aid, but as a rule-maker in shaping its own future.

The conference was attended by civil society leaders, trade unions, and policymakers from across the continent, and focused on Africa’s fight for debt justice and economic transformation.

SA/MA

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