African countries are facing a drying up in international funding. Public and private investors are turning away from these countries at a time when financing needs are greater. This year the situation is becoming more critical.

Last Thursday, officials from the French Development Agency (AFD) painted a far from idyllic picture when presenting the 2024 edition of the 2024 edition of the book “The African Economy”. For them, African countries are facing not only a drying up of international capital but also an increase in their borrowing, in the face of their gigantic financing needs. According to Rémy Rioux, the Director General of AFD, China, which until recently was the key lender for many African countries, including Angola, Ethiopia and Kenya, has significantly

For his part, Thomas Melonio, the agency's research director, indicated that “only 1 to 2 billion dollars were loaned to the continent by China in the last three years compared to 170 billion between 2000 and 2022”.

Africa needs 2.8 trillion dollars between 2020 and 2030 to adapt to global warming and reduce its greenhouse gas emissions. The current level of financing is largely inadequate: the resources committed are only 300 billion. According to Christian Yoka, AFD's Africa Director, “bridging the gap would require at least $250 billion each year, or around 10% of African GDP. We are a long way from that.”