Sovereign Debt News Update No. 172: Ethiopia’s Sequential Debt Agreements with France and China, and the Enduring Limits of the G20 Common Framework

Since formally requesting debt treatment in early 2021 under the G20 Common Framework, Ethiopia has faced a protracted and uncertain restructuring five year-process marked by delays, creditor coordination challenges, and mounting economic pressures. The country’s economic vulnerabilities have been exacerbated by conflict, foreign exchange shortages, inflationary pressures, and declining investor confidence. Against this backdrop, the announcement on 3 April 2026 that Ethiopia had reached a debt treatment resolution with China represents a significant development, not only for Ethiopia’s restructuring process but also for broader debates on the effectiveness (or lack thereof) of the Common Framework. This update examines the details of the agreement, situates it within Ethiopia’s broader debt trajectory, and critically assesses what it reveals about the evolving global debt restructuring regime.

Sovereign Debt News Update No. 171: Nigeria to Explore a $5 billion Total Return Swap with UAE Bank

Nigeria is once again at a critical juncture in its debt trajectory, as mounting fiscal pressures, rising borrowing costs, and constrained access to conventional financing channels push the government toward increasingly complex and opaque instruments. Recent reports indicate that Nigeria is considering a $5 billion Total Return Swap (TRS) arrangement with First Abu Dhabi Bank, marking a significant shift in its debt management strategy. This development must be situated within a broader pattern of an increasing appetite for this credit derivative in the form of Total Return Swaps. Both Angola and Senegal have in the recent past also been reported to have entered into Total Return Swaps. These developments point to a deepening reliance on financial engineering solutions that may provide short term liquidity but carry significant long-term risks for fiscal stability and public accountability.

Sovereign Debt News Update No. 170: Mozambique’s Debt Paradox: A Turning Point Masking Structural Fragility

Mozambique has entered 2026 with a seemingly positive milestone, having fully repaid its outstanding obligations to the International Monetary Fund (IMF) ahead of schedule. This development, which might ordinarily signal improved fiscal health and strengthened macroeconomic stability, instead unfolds against a backdrop of intensifying domestic debt pressures, constrained fiscal space, and growing socio-economic strain. While authorities have framed the early repayment as evidence of sound financial management and renewed credibility, emerging data suggests a more complex and concerning reality. Domestic borrowing has surged, external financing conditions remain tight, and key development projects face increasing uncertainty. Mozambique’s trajectory mirrors a wider trend across African sovereigns, where headline debt milestones often sit alongside intensifying structural vulnerabilities and fiscal strain. Against this backdrop, this update explores the country’s recent full repayment of its IMF obligations in parallel with rising domestic debt pressures and tightening fiscal space.

Symposium on the Wathome Decison: Whose Seeds, Whose Future? Seeds Sovereignty and Farmers Rights in Kenya

The article analyses the High Court’s decision in Wathome & 14 others v Kenya Plant Health Inspectorate Service & another; Greenpeace Environmental Kenya & 2 others (Interested Parties) [2025] KEHC 18166 (KLR) (the Wathome Decision), focusing on the arguments advanced and the Court’s response to the tension between plant variety protection and farmers’ rights. Finally, it reflects on what a more balanced legal and policy framework might entail, while also engaging with emerging challenges related to the place of genetically modified crops and the growing reliance on toxic agrochemical inputs in food production.

Symposium on the Wathome Decision - Beyond Breeder Rights: Reclaiming Seed Sovereignty, Food Justice, and Cultural Autonomy in Kenya

In late November 2025, the Machakos High Court in Kenya issued an unprecedented judgment that was noteworthy. The judgment was not limited to legal correction; it struck down the key provisions of the Seed and Plant Varieties Act (SPVA). It was a strong assertion of humanity’s dignity, culture, and the right to eco-justice. The Court aligned Kenyan law with constitutional values and international human rights obligations by declaring unconstitutional the laws that criminalized the saving, sharing, and sale of farm-saved and Indigenous seeds. The UN human rights experts have recognised this judgement as a landmark for the rights of peasants and food security, and declare it a strong rebuttal against the international trade of seeds through restrictive IP regimes.

Book Review I: Intellectual Property Rights and Sustainable Development Goals in Africa - The Strengths and Gaps in the Book: “Intellectual Property Rights and Sustainable Development Goals in Africa”

This volume weaves through an analysis of Intellectual Property Rights as integrated with sustainable development. The contribution of IP in the achievement of sustainable development goals is brought out through nineteen chapters. This review is not a chapter-by-chapter exploration. However, it starts with a general outlook of the work presented in this book as summarized in the first chapter, highlighting key points of significance. The review follows up with a few other positive pointers to be appreciated in the general context of the work, before picking out on underlying gaps that generally stand out in all the chapters.

Book Review Symposium Introduction: Intellectual Property Rights and Sustainable Development Goals in Africa

Through case and thematic analyses drawn from specific African countries and regional organizations, the book explores the intersection of IP with crucial sectors that are key to advancing sustainable development in Africa. In particular, the book situates the IP and sustainable development conversation within the context of agriculture and food security, access to medicines and public health, gender empowerment, small business development, innovation and patent quality, financing, innovation, entrepreneurship and commercialization, data protection, traditional knowledge and artificial intelligence in Africa. In this connection, the book explores the interaction between IP rights and the United Nations Sustainable Development Goals, which are also articulated in the African Union’s development objectives (Agenda 2063).

Sovereign Debt News Update No. 169: Reclaiming Value Through Mineral Beneficiation: Malawi’s Suspension of Mining Licenses and Ban on Raw Mineral Exports

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid. Focusing in particular on Kenya, Zambia, Zimbabwe, Mozambique, Nigeria and Senegal, the AfSDJN will also amplify African voices and decolonize narratives on African sovereign debt . Its activities include producing research outputs to enhance the network’s advocacy interventions. It also seeks to create awareness on and elevate the priority given to sovereign debt and other economic justice issues on the African continent and beyond throughout 2021.

Sovereign Debt News Update No. 168: Zimbabwe Announces Immediate Suspension of Raw Mineral and Lithium Exports: Implications for the Global Lithium Market

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid. Focusing in particular on Kenya, Zambia, Zimbabwe, Mozambique, Nigeria and Senegal, the AfSDJN will also amplify African voices and decolonize narratives on African sovereign debt . Its activities include producing research outputs to enhance the network’s advocacy interventions. It also seeks to create awareness on and elevate the priority given to sovereign debt and other economic justice issues on the African continent and beyond throughout 2021.

Sovereign Debt News Update No. 167: Debt Swaps in Africa: Renewed Momentum Amid Persistent Structural Concerns

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid. Focusing in particular on Kenya, Zambia, Zimbabwe, Mozambique, Nigeria and Senegal, the AfSDJN will also amplify African voices and decolonize narratives on African sovereign debt . Its activities include producing research outputs to enhance the network’s advocacy interventions. It also seeks to create awareness on and elevate the priority given to sovereign debt and other economic justice issues on the African continent and beyond throughout 2021.