NICA rallies African policymakers, private sector on way out of debt crisis

Amid crushing impact of debts on the African economy, following inability of some countries to service their liabilities, African financial economists, public policy analysts, international multilateral lending policy makers and researchers are set to converge for the Africa Debt Crisis Conclave (ADCC), scheduled to hold in London, United Kingdom (UK) on September 6 and 7.

This came as the burden of debt and pursuit of sustainable development emerged as critical concerns for the African continent, especially with the impact of ongoing debt crisis on economic growth, social development, and environmental sustainability.

In the search to find viable solutions, this gathering of African leaders drawn from governments, private sector, academia, parliaments, civil society, and the media, has been adjudged timely and capable of provoking new perspectives to much needed economic and social development of the African region.

According to a statement from the organisers, namely, Nigeria’s National Institute of Credit Administration (NICA), International Partnership for African Development (I-PAD) in Scotland, and London Postgraduate Credit Management College (LPCMC), England, ADCC seeks to bring together leaders and drivers of government policies and programmes with the private sector to rally around political economy leaders and policy advisors on the continent, with a view to discovering and accelerating Africa’s home-grown policy for balanced economic and social development.

Registrar and Chief Executive Officer of NICA, Prof. Chris Onalo, said the conclave, which will be a yearly event, will be broadly similar but different in focus to the World Economic Forum, while serving as an irresistible platform for business, investment networking and brand-showcasing engagement.

There will also be thought-provoking research on Africa’s debt history, possible exertion of influence on borrowing conditionalities, Africa’s economic diversification roadmap, ‘Africa feed yourself instruction’, ‘trim your spending to size Africa’, and raising of intentional war on corruption in Africa, among others.