French banks "play a central role" in the indebtedness of many African states. According to Oxfam, French banks Sociéte Générale, Crédit Agricole and BNP Paribas are contributing to the debt crisis in some African countries.

According to a report by the NGO Oxfam France and the Debt and Development Platform published on 12 October 2021, French banks "play a central role" in the indebtedness of many African states that today mainly use borrowing to finance their development lack of own resources and public funding. Faced with an unprecedented situation, namely the increase in extreme poverty "for the first time in more than 20 years in 2020" and social budgets "under stress", Oxfam France believes that "it is time to force private creditors to join the efforts to alleviate the debt of the developing countries". These financial institutions must be called upon as they have been solicited during the pandemic by African countries to whom they have lent, once again, at exorbitant rates.