African Economies

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.

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.

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.

The African Continental Free Trade Area (AfCFTA) is the world’s largest free trade area in terms of the participating countries since the formation of the World Trade Organization (WTO). The AfCFTA Agreement brings together 55 African Countries who are contracting member states to the 8 existing Regional Economic Communities in Africa, including the newly formed Alliance of Sahel States (former members of ECOWAS). As of September 2024, 54 of the 55 AU member states have signed the AfCFTA Agreement and 47 have ratified the Agreement. The AfCFTA aims to create a single market for trade in goods and services and allow free access to tradeable commodities across the continent. Although the AfCFTA is not fully operational, meaningful commercial trading has been envisioned through the Guided Trade Initiative (GTI). The GTI is a pilot project that tests the operational, institutional, legal and trade policy environment of the AfCFTA.

Dispute settlement is a central tenet of any economic block as it provides the necessary security and predictability for the state parties. The Architecture of the AfCFTA is reflective of these principles as the AfCFTA Agreement has introduced a rules-based dispute settlement regime which mirrors the WTO’s Dispute Settlement Understanding. The success of the AfCFTA is highly dependent on the effectiveness of the dispute settlement mechanism. In considering the Dispute Settlement Mechanism (DSM) of the AfCFTA this piece highlights the salient features of the DSM and explores some of the challenges that should be anticipated. This piece fronts the argument that the AfCFTA should have diverged from the traditional dispute settlement mechanisms adopted by the WTO. Further, it attempts to answer the question on whether African States will utilize the DSM given the current status quo of the dismal use of the WTO’s DSM.

In December 2024, South Africa assumed the presidency of the G20, a position which ended on 30th November 2025. Addressing the issue of debt sustainability was highlighted as a key priority of the presidency. During its tenure, South Africa has taken steps such as the G20 Ministerial Declaration on Debt Sustainability in October 2025. The Expert Panel has also released its report titled ‘Growth, Debt and Development: Opportunities for a New African Partnership’ in which it addresses the issue of sovereign debt in Africa and provides guidance to South Africa’s G20 Presidency on the collective measures required to unlock the continent’s global development potential. This Update will outline the background to the report within the context of the G20, particularly South Africa’s presidency thereof, and analyze its key propositions, with particular attention to whether it offers realistic pathways to debt sustainability in Africa, or if gaps remain.

L’harmonisation des règles douanières au sein de la ZLECAF est réelle et salutaire. Elle est une réalité puisqu’elle repose essentiellement sur la réduction des droits de douane des Etats membres de la ZLECAF. Cette réalité se manifeste non seulement par l’existence de réelles politiques d’harmonisation des règles douanières mais aussi par un domaine assez précis de l’harmonisation de ces règles. En revanche, l’harmonisation des règles fiscales est éprouvée pour deux raisons : d’abord, l’on note l’absence de politique favorable à l’harmonisation des règles fiscales au sein de la ZLECAF ; ensuite, l’on note l’absence de mesures de coopération entre la ZLECAF et les autres espaces communautaires africains au sein desquels s’est déjà effectuée l’harmonisation fiscale. Pour atteindre l’objectif d’harmonisation des règles fiscales, il est souhaitable qu’une politique d’harmonisation fiscale particulière soit menée au sein de la ZLECAF, laquelle pourrait s’appuyer sur celle déjà menée au sein de l’UEMOA, de la CEMAC.

La mondialisation a créé une interdépendance entre États sur plusieurs plans, notamment sur le plan économique. Cela s’est traduit par la conclusion d’accords économiques visant à faciliter et à multiplier les échanges commerciaux entre États. Toutefois, cette multiplication des échanges commerciaux a aussi révélé de nouveaux défis, qui semblent tout aussi importants que les retombées économiques, tels que la protection des droits de l’homme, la protection de l’environnement, etc. Cette prise en compte de l’environnement apparaît comme un élément indissociable du développement socio-économique et, de ce fait, chaque accord international devrait accorder une place primordiale à la question environnementale. C’est le cas pour certains accords tel que l’Accord économique commercial global (AECG), conclu entre l’Union Européenne et le Canada, qui a davantage mobilisé sur les questions liées à l’impact environnemental du libre-échange que sur ses retombées économique.

The African Continental Free Trade Area (AfCFTA) has the potential to grow beyond just reducing tariffs. Its success depends on the movement of people, not just goods. Africa needs to develop a shared continental identity, which can ultimately lead to a more integrated free trade area. The African Union recognized this when it created the 2018 Protocol on the Free Movement of Persons, which has experienced slower rates of adoption and ratification (Hirsch, 2021). The free movement of individuals is considered crucial for achieving the objectives of the AfCFTA and promoting regional integration. Lessons from other regional integration models, such as the European Union, may provide valuable insights into overcoming challenges and advancing the free movement agenda. These examples highlight that trust, cultural exchanges, and familiarity are crucial to a better integrated African free trade Area.

This quarterly report argues that Africa’s ongoing debt crisis is deeply intertwined with the legacies of colonialism, the political pressures of post-independence governance, and the global financial system’s exploitative practices. Recently liberated African states in the 1970s and 1980s faced the dual challenge of fulfilling liberation promises, such as expanding education, healthcare, and infrastructure, while relying on favorable commodity prices to sustain economic growth. This combination of political urgency and economic optimism led to extensive borrowing, often underpinned by forced loans and unrealistic economic forecasting.