Executive Secretary of the Economic Commission for Africa (ECA), Claver Gatete, has expressed worry over rising debts on the continent, saying about 20 African nations, including Nigeria, are currently grappling with severe debt distress.
  
Stressing on debt sustainability and making case for the establishment of a fair debt resolution framework that would align with the developmental needs of African countries; he said countries must engage in robust advocacy to secure financial solutions that foster growth rather than hinder it.
  
Addressing ministers of Foreign Affairs of all African countries ahead of the G20 meeting billed to be held in South Africa, he emphasised the critical challenges and opportunities facing the continent; underscoring the necessity for Africa to assert its voice in global economic governance, particularly at a time when its influence is vital for addressing pressing issues. He further stressed the importance of securing a prominent role for the continent in global economic discussions to navigate its complex economic landscape effectively.
  
He also addressed the pressing crisis of climate change, highlighting that Africa contributed just about four per cent of global carbon emissions, while disproportionately suffering from its adverse effects. He called for increased access to climate finance and reiterated the importance of fulfilling the international commitment of $100 billion yearly to combat climate impacts. 
  
“This financial support is crucial for African nations to mitigate the detrimental effects of climate change on their economies and societies,” he said.
 In addition, he underscored the need to ensure universal access to reliable energy as a prerequisite for Africa’s economic transformation. He urged the continent to leverage its abundant renewable energy resources to create sustainable jobs and drive economic growth; saying the interconnectedness between energy access and economic development was vital for fostering resilience and progress across Africa.
  
Highlighting Africa’s economic potential, Gatete noted that the continent held approximately 30 per cent of the world’s mineral reserves but cautioned against the ongoing practice of exporting unprocessed or semi-processed minerals. 

He called for the establishment of regional value chains that would promote local beneficiation, industrialisation and technology transfer, essential for achieving sustainable economic development.