According to the World Bank’s annual report, the national debt of sub-Saharan African countries is estimated at 1.14 trillion US dollars. In 2010, it was still at 354 billion. In recent years many African governments have become heavily indebted – often to finance major infrastructure measures. Consequently, many African nations are now allocating more funds to servicing their debts than to delivering healthcare or education to their citizens.

Planned tax increases to reduce the debt burden in Kenya led to weeks of massive demonstrations in June, which have since evolved into a broader protest movement against the rising cost of living, corrupt political elites, and a lack of economic prospects for young people (Gen Z).

What strategies for addressing the debt crisis can be developed with the involvement of China and private creditors? What role have African governments played in shaping the current situation, and what lessons can be drawn from it? How can young people in Africa be given prospects for economic participation, and how does the debt crisis impact democratic structures? These and other questions were at the center of the discussion.

Programme

Welcome
Stefan Rouenhoff MdB (CDU), Head of the Africa Working Group of the CDU/CSU parliamentary group, Chairman of the German Africa Foundation
Clauspeter Hill, Deputy Head of Department, European and International Cooperation, Konrad Adenauer Foundation

Discussion
Dr. Kathrin Berensmann, Senior Researcher, German Institute of Development and Sustainability (IDOS)
Dr. Robert Plachta, Head of Division, Multilateral Development Cooperation and Debt Restructuring, Federal Ministry of Finance
Prof. Henry K. Prempeh, Executive Director, Ghana Centre for Democratic Development, Senior Advisor Afrobarometer

Moderation
Ingo Badoreck, Policy Advisor, Francophone Sub-Saharan Africa/Economy, Konrad-Adenauer-Stiftung

Conclusion
Sabine Odhiambo, Secretary General, German Africa Foundation