Stand-Alone Posts

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.

The inclusion of Fintech in the Protocol on Digital Trade and the requirement to develop the Fintech Annex represent a significant milestone for Fintech on the continent. Documents like the Fintech Annex take time to develop and are not revised as frequently as domestic frameworks. Therefore, it is crucial that stakeholders involved in negotiating the Fintech Annex strive to produce a document that will stand the test of time and facilitate measurable results. This piece has attempted to highlight some key considerations for developing the Fintech Annex. However, what has been covered is merely the tip of the iceberg. There are many other issues to consider. Experts and scholars in the field of Fintech are encouraged to urgently publish on this topic to support the efforts of the actual negotiators of the Fintech Annex.

In the pecking order of cabinet ministries, Trade and Industry tends to come close to the bottom. What is more, is that Trade and Industry Ministries typically get allocations of less than 1 percent of national budgets. No wonder, then, that ecosystems don’t exist that would facilitate production and trade of high-value, transformative products with high impact in the broader economy. Yet, the rhetoric about export-led development is ceaseless. This is certainly the case in practically all African countries.

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.

Joining the new global rush for “Blue Gold” Uganda, a landlocked country, recently adopted its national blue economy strategy prepared with the support of the Africa Blue Economy (IGAD). From South Africa to Kenya or Cameroun, African countries, -as most States and regions around the world-, are encouraged to design Blue Economy frameworks, and other implementation toolkits, to grasp the economic opportunities offered by the extraordinary resources of oceans, seas, rivers, and lakes. As for Uganda, the Blue Economy concept is now extended far beyond the Oceans to cover all fresh waters as well as ground waters and associated resources. The African Union (AU) developed its Blue Economy Strategy from 2018 to guide sustainable development and the utilization of aquatic resources in the continent. It was endorsed, in October 2019, and is referred to in the strategic framework for the socio-economic transformation of Africa over the next 50 years, the ambitious Africa 2063. Promoted as the new gold for Africa, the Blue Economy is presented by the United Nations Economic Commission for Africa as a tool for “both coastal and land-locked States” to “harness opportunities, which could yield mutual benefits, including the provision of efficient and coordinated services to each other as well as access to resources”.

Focusing on limiting IFF is a much better option for providing African countries with the necessary funds towards achieving Agenda 2063 and the United Nations Sustainable Development Goals. Realizing tax revenue from reducing IFFs may also reduce dependence on foreign aid. As African countries take the required steps to curb IFF, it is relevant to note that no single country can independently curb Illicit financial flows, especially from aggressive tax planning. Increasing financial transparency through consistent domestic policy implementation and international cooperation remains one of the most efficient channels to halt IFFs out of Africa.