Africa’s debt burden to dominate discussions at ADCC

Forum 8 months ago

Africa’s debt burden to dominate discussions at ADCC

The worrisome debt conditions of Nigeria and other African countries will be the focus of the discussion at the 2023 Africa Debt Crisis Conclave 2023 scheduled to hold in London in September.

In a statement signed by the Registrar & Chief Executive Officer, National Institute of Credit Administration Nigeria [Chartered], Prof. Chris Onalo, he said the need to seek sustainable solutions to Africa’s debt was urgent.

Part of the statement read, “As we navigate the complexities of a rapidly changing global landscape, the burden of debt and the pursuit of sustainable development have emerged as critical concerns for the African continent. The impact of the ongoing debt crisis on economic growth, social development, and environmental sustainability necessitates a concerted effort by African nations and the international community to find viable solutions.”

According to the statement, the conference which would draw from governments, private sectors high-powered corporate, academia, parliaments, civil society, and the media, had been adjudged as timely, relevant, and focused, with the capability to provoke new perspectives to the much-needed economic and social development of Africa.

It said the participation of African elites and entrepreneurs in the conference would provide a unique opportunity to share their insights, experiences, and recommendations on addressing the debt burden, while ensuring sustainable development across the continent.

Their perspectives would be invaluable in guiding the discussions towards effective strategies and policies that align with the needs and aspirations of African nations, it said.

ADCC is organised by NICA, International Partnership for African Development in Scotland, and London Postgraduate Credit Management College, England.