United Nations (UN) Secretary-General António Guterres has bemoaned African’s position in the wrld’s financial infrastructure.
During the 10th African Union–United Nations Annual Conference held in Addis Ababa, the capital of Ethiopia on Wednesday, Guterres commended the continent’s leading role in championing reforms to the global financial architecture and promoting continental unity.
He stressed the need for the international community to confront historical injustices that continue to affect Africa’s development, including colonization, slavery, and the transatlantic slave trade.
He also voiced strong support for African calls for reparations and reforms of global governance institutions, including the United Nations Security Council, the International Monetary Fund, and the World Bank.
According to the UN chief, Africa continues to face structural inequalities in the global financial system, including high borrowing costs, biased sovereign credit ratings, and inequitable allocation of Special Drawing Rights (SDRs).
“There is an ecosystem that benefits developed countries and hampers the emergence of Africa,” he said.
Guterres further warned that external interference has worsened conflicts in parts of the continent, including Libya, the Sahel, and Sudan, noting that past military interventions without long-term strategies contributed to instability and the spread of extremism.
He reiterated that the United Nations fully supports African-led peace efforts and does not seek to replace the African Union’s leadership in resolving conflicts.
On economic transformation, the Secretary-General highlighted Africa’s vast reserves of critical minerals and renewable energy resources, saying the continent is central to the global green transition.
However, he cautioned against repeating exploitative patterns where raw materials are exported without local value addition.
Guterres also pointed to Africa’s youthful and rapidly growing population as a major global opportunity, noting that the continent now has about 1.58 billion people—nearly 19 percent of the world’s population—with a median age of around 19.5 years.
“If conditions are not created for Africans to harness their full potential, the consequences will be tragic for the rest of the world,” he warned.
He praised Africa’s efforts to resolve conflicts, strengthen continental unity, and advance major development initiatives such as the African Continental Free Trade Area (AfCFTA) and efforts toward building a new African financial architecture.
MG/as/APA