Mahama Calls for Expansion of Green and Blue Bonds Across Africa
President John Dramani Mahama has called for a significant expansion of green and blue bond initiatives across Africa to support the financing of environmental protection, clean energy, and sustainable agriculture.
Speaking at the opening of the African Union Conference on Debt in Lomé, Togo, Mahama noted that Ghana is actively exploring these innovative financing instruments. “Ghana is exploring these options alongside broadening the tax base, digitising revenue collection, and enhancing domestic capital markets to reduce dependency on external borrowing,” he stated.
The three-day conference, organised by the African Union Commission’s Department for Economic Development, Tourism, Trade, Industry, and Minerals (ETTIM), is being held under the theme: “Africa’s Public Debt Management Agenda: Restoring and Safeguarding Debt Sustainability.”
The event has brought together representatives from AU Member States, Ministries of Finance, African Central Banks, Regional Economic Communities, multilateral financial institutions, and civil society organisations to deliberate on solutions to the continent’s growing debt challenges.
President Mahama urged African leaders to confront systemic issues hindering debt sustainability. “What is not working, the first is that the G20 Common Framework remains slow and creditor-driven,” he said, highlighting the shortcomings of the global debt treatment mechanism for low-income countries.
The G20 Common Framework is intended to coordinate debt restructuring among official creditors, including members of the Paris Club and countries like China, to ensure fair and timely solutions for nations facing unsustainable debt burdens.
Mahama joined calls for a unified African position ahead of the 2025 G20 summit to demand a more effective, fair, and transparent approach to debt restructuring.
He further advocated for the establishment of standardised debt transparency benchmarks across the African Union and the integration of climate resilience and sustainable development goals into national debt management strategies.
