As the 4th International Conference on Financing for Development unfolds in Seville this week, a critical question looms over Africa’s participation: has the continent arrived with a unified voice to reshape the global financial architecture or are its leaders merely passing each other in the corridors, each advancing national interests in isolation?
The summit, convened under the auspices of the United Nations and hosted by the Government of Spain, brings together scores of heads of state and government, alongside ministers of finance, foreign affairs and development cooperation from more than 150 countries.
The agenda is ambitious – reform the international financial system, mobilise resources for the Sustainable Development Goals (SDGs) and close the yawning global financing gap, estimated at US$4 trillion annually through 2030.
For Africa, the stakes are particularly high. The continent faces an annual SDG financing shortfall of US$1.3 trillion.
Infrastructure requirements alone are estimated at between US$130 billion and US$170 billion per year, with a financing gap of up to US$108 billion.
Yet, many African countries remain trapped in cycles of unsustainable debt, high borrowing costs and limited access to concessional finance.
In 2024, African governments spent an estimated US$163 billion on debt servicing, nearly four times the total official development assistance received.
Against this backdrop, the African Union (AU) – in partnership with institutions such as the African Development Bank, the UN Economic Commission for Africa and the Africa Tax Administration Forum – is hosting a series of side events aimed at advancing a common African agenda.
These include sessions on international tax cooperation, innovative finance and the establishment of an African credit rating agency.
Yet, despite these coordinated efforts, observers note a lack of visible cohesion among African delegations on the main conference floor.
“Side events are akin to a cattle-fattening project as they take place on the ground and will never replace the need for thorough continental preparations that should have taken place on African soil ahead of this conference,” said political analyst Donald Porusingazi.
While countries like South Africa, Kenya and Nigeria have articulated strong national positions – ranging from debt relief to climate finance – there is little evidence of a consolidated African bloc strategy.
“Without a unified front, Africa risks being sidelined in negotiations that will shape the future of global finance,” the analyst warned.
He said the “fragmentation dilutes bargaining power and undermines the continent’s ability to secure structural reforms.”
The conference marks the first major global economic forum since the AU’s admission to the G20 – a symbolic milestone that has yet to translate into coordinated leverage on the world stage.
As the summit progresses toward the adoption of the “Compromiso de Sevilla” (The Commitment of Seville) outcome document, the question remains: will Africa seize this moment to speak with one voice or will it leave Seville with little more than fragmented declarations and missed opportunities?
The answer may well determine whether the continent can assist to shape a financial system that works for its people – or continue to be shaped by one that does not.
JN/APA