‘Rising debt pushing Africa deeper into fossil fuel extraction’

President Bola Tinubu

New report by the African Forum and Network on Debt and Development (AFRODAD) and the Fossil Fuel Treaty Initiative has raised concerns over rising external debt across the continent.

The external debt had surged past $1 trillion, forcing governments to prioritise repayments over the welfare of the people.

It raised the alarm that African countries were pushed deeper into fossil fuel extraction, not for development, but to pay off debt. The result, the report revealed, is a dangerous trade-off, where countries were expanding oil, gas, and coal production while cutting investment in health, education, and social protection, even as public systems weaken, while extraction intensifies.

Entitled: “Gender, debt and fossil fuels: a mapping of key insights from the African continent”, the study highlighted that the burden was not evenly shared, as women and vulnerable communities were absorbing the fallout, through unpaid labour, displacement, and exposure to environmental harm.

The report is clear on the reality that Africa is caught in a global economic system that extracts wealth while deepening the crisis, but recommends a ‘Fossil Fuel Treaty’ that enables debt relief and supports a just transition to renewable energy.

According to the report, Africa possesses 40 per cent of the world’s renewable energy potential but receives less than two per cent of global renewable energy investment, stating that as the climate and debt crises escalate and compound each other, nations have to choose paying off debts over critical social investments.

Authored by Bemnet Agata and Dr Amiera Sawas, the study emphasises that despite climate change’s biggest drivers, fossil fuels continue to enjoy investment under a narrative that they are necessary for Africa’s energy security and development.

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