By Kizito CUDJOE, Johannesburg – South Africa
The fifth edition of the AFRODAD Media Initiative (AFROMedI V), organised by the African Forum and Network on Debt and Development (AFRODAD), is underway in Johannesburg, South Africa, with a call for journalists to enhance their coverage of debt and broader socio-economic issues.
Speaking at the opening session, Dr. Christian Ayiku, a Ghanaian banking and finance expert based in South Africa, outlined key challenges African journalists face in debt reporting. These include difficulties in understanding complex debt processes, limited access to crucial financial data, and translating technical information into engaging relatable stories.
“Even those equipped with the skills to report on debt often face restrictions on covering sensitive issues related to transparency, accountability, and governance—especially during election cycles that play a key role in shaping the debt discourse,” he added.
Africa is currently grappling with one of its worst sovereign debt crises in decades, raising concerns over economic stability. According to the International Monetary Fund (IMF), over 22 African nations are either in or at risk of debt distress.
The World Bank estimates that sub-Saharan Africa’s debt-to-GDP ratio reached an average of 60 percent in 2023, up from 35% in 2010.
“The African Debt Risk Map identifies several nations under significant financial strain, including Ghana, Sudan, Somalia, Zambia, Mozambique, Zimbabwe, Tunisia, and Kenya. Many governments, burdened by debt, have been forced to implement austerity measures, slashing social spending in favor of loan repayments. In some cases, these policies have triggered public unrest, as seen in Kenya and Nigeria in 2024,” Dr. Ayiku noted.
Public debt remains a critical component of fiscal policy, but African economies face unique challenges. Dr. Ayiku linked the region’s debt struggles to historical factors, stating:
“Its origins are deeply tied to the colonial legacy, which left many nations saddled with odious debt, restricting their fiscal space and economic autonomy. Colonial-era economic structures were designed to serve foreign powers, extracting resources while leaving African nations with liabilities that persist to this day.”
Upon gaining independence, many African countries inherited substantial debt, reinforcing economic dependency. The United Nations Conference on Trade and Development (UNCTAD) reports that external debt servicing now consumes over 12 percent of Africa’s export revenues, limiting investment in development.
Against this backdrop, Dr. Ayiku stressed the crucial role of the media in shaping public discourse, influencing policy decisions, and holding leaders accountable.
“Journalists must set the agenda, ensuring transparency and keeping people informed on key financial processes,” he said.
AFROMEDI V is calling on African media to elevate debt issues in election debates, party manifestos, and candidate interviews ahead of the 2025 polls. The initiative also advocates for stronger reporting on reforms to the global financial system that would benefit Africa and advance reparative justice.
AFROMEDI V is organized by AFRODAD in partnership with African Monitor. This year, 45 journalists from 29 countries are participating, with expectations that future editions will expand to all 54 African nations. The training runs from March 25 to March 27, 2025.
Speaking at the opening session, the Executive Director of AFRODAD, Jason Braganza, noted that the fifth edition of AFROMEDI V is taking place amid economic and political turbulence.
“The responsibility of the media fraternity cannot be underestimated. As the international order faces crises in diplomacy, economic stability, and governance, African countries remain vulnerable to financial instability,” he stated.
Despite these challenges, Mr. Braganza emphasized that debt issues are often underreported. Data from the African Development Bank (AfDB) shows that 40% of African countries lack transparency in debt statistics, making public scrutiny difficult.
“Lack of information, accompanied by inaccessible debt statistics and public reporting, is undermining the public’s ability to interact and hold governments accountable,” he added.
“As we gather for the 5th AFRODAD Media Initiative, let’s remember how current circumstances undermine Africa’s sovereignty and hinder its economic stability. The African Union’s 2025 theme on reparations and reparative justice is particularly relevant. Let this focus guide our training in the coming days,” he urged.
He said AFRODAD remains committed to supporting and enhancing the media fraternity’s capacity to strengthen research, data analysis, and storytelling on public debt and development finance.
AFRODAD is a Pan-African civil society organization established over 25 years ago to amplify African voices on public debt and development finance issues.
