Experts To Explore Impacts of Debt Crisis On Africa Continent

Experts are expected to converge at the Africa Debt Crisis Conclave (ADCC) 2023 seminar scheduled to hold in London on September 6th – 7th, to discuss way out of debt crisis battling most African countries.

The organisers of the event, said the experts invited are eminent African financial economists and top-level public policy analysts, believing, as the continent navigates the complexities of a rapidly changing global landscape, the burden of debt and the pursuit of sustainable development have emerged as critical concerns for the African continent.

The impact of the ongoing debt crisis on economic growth, social development, and environmental sustainability, they said, necessitate a concerted effort by African nations and the international community to find viable solutions.

In a statement signed by the registrar/chief executive officer(CEO), National Institute of Credit Administration(NICA), Professor Chris Onalo, and made available to LEADERSHIP at the weekend, said: “Now renting in the air space of the continent of Africa, this special gathering of African leaders drawn from governments, private sectors high-powered corporate, academia, parliaments, civil society, and the media, has been adjudged as timely, relevant, and focused capable of provoking new perspectives to the much needed economic and social development of the African region.”

Participation of African elites and entrepreneurs in the conference, he stated, will provide a unique opportunity to share their insights, experiences, and recommendations on addressing the debt burden while ensuring sustainable development across the continent.

Their perspectives will be invaluable in guiding the discussions towards effective strategies and policies that align with the needs and aspirations of African nations, he said.

To him, “with the crushing impact on the African economy following inability of the entire countries in Africa to service debt liabilities, as well as continuous vulnerability to hard borrowing conditionalities, a conference of this nature couldn’t have come at a better time than now.

“As democracy in the continent gains momentum, intertwined, expectedly, with sustainable economic prosperity, it becomes compelling for Africa and Africans to rise and take decisive steps to save Africa from further imperialistic enslavement, or any form of self-inflicted economic degradation.”

According to the statement from the conclave organisers, namely;  Nigeria’s prestigious National Institute of Credit Administration (NICA) chartered, International Partnership for African Development (I-PAD) in Scotland, and London Postgraduate Credit Management College (LPCMC), England, ADCC is no doubt the busiest networking and brand showcasing opportunity platform for top-level attendees comprise of corporate decision-makers, high profile investors, key contact persons in governments, heads of academic, and hard-to-find parliamentarians all of which are coming together from the 54 countries in the African continent.