ActionAid’s finding has shown that Africa, which is one of least contributors of climate menace, is owed $36 trillion in climate debt by rich nations.

“Despite this, African countries continue to prioritise debt repayments to rich countries and global financial institutions, sacrificing critical public services such as healthcare, education, and climate action,” the report said.

Arthur Larok, Secretary General of ActionAid International described the menace as a “travesty that African nations are being crushed under the weight of foreign debt, while the world richest countries evade their responsibility to pay for the climate crisis and reparations for historical injustices.”

“By forcing countries to prioritize debt repayment over essential services, rich countries are pushing Africa to the brink.”

The report highlighted that in 2024 alone, lower-income African countries paid US$60 billion in debt repayments, diverting funds from crucial sectors that could improve the lives of millions. In contrast, rich countries should be paying at least US$1.4 trillion every year in climate finance to Africa, an amount 25 times greater than Africa’s annual debt payments.

Chikumbutso Ngosi, Young Urban Women Programme Manager at ActionAid International, emphasized the gendered impact of this crisis: “Servicing external debts and complying with IMF loan conditions are undermining investments in health, education, and climate action, disproportionately affecting women and girls.

The report also exposed the stark inequality in global finance. African countries are charged an average interest rate of 9.8% on loans 12 times higher than the 0.8% interest rate paid by Germany.

ActionAid urged African leaders to take a stand against both historical and ongoing injustices, adding that the report calls on the AU and global movements to establish a new UN Framework Convention on Debt to replace the unfair, colonial financial system controlled by the IMF.

By Adama Makasuba