Keynotes
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Friday
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3:30 pm
Klarman Hall
Diverse

Undoing the African Debt Trap

In 2022, public debt in Africa reached USD 1.8 trillion. While this is a fraction of the overall outstanding debt of developing countries, Africa’s sovereign debt has increased by 183% since 2010, a rate roughly four times higher than its growth rate of GDP in dollar terms. Today, 60% of African countries spend more on repaying their debts than on healthcare, a trend that has been exacerbated by the COVID-19 pandemic, the war on Ukraine and the overall economic slowdown in the past few years. While international organizations have stepped in to support (for example, the G20 assisted 31 out of 36 eligible African countries with its Debt Service Suspension Initiative (DSSI)), the question remains: Why has Africa not been able to break out of this debt trap? And what role does the public and private sector play in moving past this dynamic?

Undoing the African Debt Trap

In 2022, public debt in Africa reached USD 1.8 trillion. While this is a fraction of the overall outstanding debt of developing countries, Africa’s sovereign debt has increased by 183% since 2010, a rate roughly four times higher than its growth rate of GDP in dollar terms. Today, 60% of African countries spend more on repaying their debts than on healthcare, a trend that has been exacerbated by the COVID-19 pandemic, the war on Ukraine and the overall economic slowdown in the past few years. While international organizations have stepped in to support (for example, the G20 assisted 31 out of 36 eligible African countries with its Debt Service Suspension Initiative (DSSI)), the question remains: Why has Africa not been able to break out of this debt trap? And what role does the public and private sector play in moving past this dynamic?

America/New_York
Feb 16, 2024 3:30 PM
Klarman Hall

Other Sessions

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Lunches
Saturday
|
12:25 pm
Aldrich 008
Sponsor Informational Lunch: Tlcom Capital
Sponsor informational lunch
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Sponsor Informational Lunch: Tlcom Capital

The sponsor informational lunch will include a company presentation and the opportunity to connect with some of the company's executives.

America/New_York
Feb 17, 2024 12:25 PM
Aldrich 008
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Keynotes
Saturday
|
9:05 am
Klarman Hall
Building Africa’s Digital Infrastructure to Spur the Next Decade of Innovation
Bridging Africa's digital divide and navigating its impact on African innovation
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Building Africa’s Digital Infrastructure to Spur the Next Decade of Innovation

Africa is in the midst of a digital revolution: approximately 473 million Africans are online, and an additional 300 million will likely join them by 2025. Average download speeds in Africa doubled between 2015 and 2019, while data costs halved. Underpinning this growth is the installation of digital infrastructure (fiber optics, data centers, and more) -  Africa has witnessed notable strides in digital infrastructure development, with increased investments in 4G and 5G technology. In an era where digital connectivity has become the linchpin of economic progress, what will it take for Africa to compete in the global digital economy? 

In this keynote panel, we will hear from the folks building that infrastructure and deploying. The session will share insights into bridging Africa's digital divide, navigating the impact of these technological advancements on the continent's innovation landscape, as well as delve into discussions on financing structures, inclusivity in access, digital economic transformation, and the pivotal role of government policies.

America/New_York
Feb 17, 2024 9:05 AM
Klarman Hall
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Lunches
Saturday
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12:25 pm
Batten Hives 304
Thematic Lunch: Travel & Tourism
Themed Networking Lunch
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Thematic Lunch: Travel & Tourism

Connect with folks that are interested in travel and tourism in Africa over lunch.

America/New_York
Feb 17, 2024 12:25 PM
Batten Hives 304