Dr. Christian Ayiku is a member of the AFRODAD Board of Trustees
A member of the AFRODAD Board of Trustees, Dr. Christian Ayiku, has stated that the ballooning debt faced by African countries can be traced back to the colonial era.
He emphasised that while public debt is an essential component of modern fiscal policy globally, it presents unique complexities for African economies.
Speaking to GhanaWeb’s Ernestina Serwaa Asante on the sidelines of the 5th AFRODAD Media Initiative in Johannesburg, South Africa, Dr. Ayiku noted that patterns from the colonial era are reemerging in recent years.
He explained that during colonial rule, economic control by the colonizers led to the extraction of the continent’s natural resources and the establishment of economic terms that favored them.
In recent times, debt-ridden African countries seeking financial bailouts or defaulting on their obligations are often pressured into implementing harsh policies, including budget cuts that shift priorities away from social investment toward loan repayment.
Discussing the root causes of Africa’s growing debt, Dr. Ayiku stated, “Its genesis is intimately tied to the colonial legacy left by European powers, which has contributed to the accumulation of odious debt and the transfer of oppressive debt burdens to independent African nations, constricting their fiscal space.”
He further elaborated, “The exploitative practices and economic control of colonial powers during the colonial era resulted in resource extraction and the imposition of economic structures that benefited the colonizers. Upon achieving independence, African nations inherited the burdensome debts incurred by colonial powers, perpetuating economic dependency and hindering development.”
Dr. Ayiku also highlighted the need for reforms in global financial institutions and their operating models.
The 5th edition of the AFRODAD Media Initiative is themed; “Media’s Role in Advancing Africa’s Position on Reparative Justice.”
A total of 45 journalists from 29 countries are participating in the initiative, which is being held in Johannesburg, South Africa.
Dr. Ayiku described this edition as a pivotal opportunity for Africa and its journalists to spotlight historical injustices and advance reparative justice within critical processes aimed at reversing these injustices.
The reparations agenda, aligned with the African Union’s 2025 theme, seeks to address historical injustices while tackling contemporary challenges such as systemic racism, economic exclusion, and Africa’s marginalization in global decision-making.
The AFROMEDI initiative enhances the capacity for reporting on debt and reparative justice by humanizing these issues, emphasising data-driven reporting, and providing historical context to highlight these injustices.
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SA/MA