In a powerful address during the 2024 Kofi Annan Eminent Speakers Lecture, President Michael D. Higgins of Ireland emphasized the urgent need for global collaboration to tackle the intertwined crises of climate change, mounting debt, and food insecurity in Africa.
“The Global North is responsible for 92% of overshoot emissions, that is the damage caused by climate breakdown,” Higgins, declared. “Global south renewable energy is receiving 40 times less public finance than the fossil fuel sector,” he added.
The hybrid event, organized by the African Development Bank Group’s African Development Institute, also featured Dr. Akinwumi A. Adesina, President of the African Development Bank Group and Chairperson of its Board of Directors, as well as Professor Kevin Chika Urama, the Bank’s Chief Economist and Vice president for Economic Governance and Knowledge Management. Senior Advisor to the President for Communication and Stakeholder Engagement, Victor Oladokun, served as the master of ceremonies.
“Through this platform we honor the memory of the late former United Nations Secretary General, Kofi Annan,” said Dr. Adesina. “His depth of understanding on international issues, from multilateralism in fostering development to supporting African smallholder farmers to anchor the continent’s food security, remains an inspiration to millions.”
President Higgins elaborated on the urgent challenges facing Africa, particularly the escalating debt crisis. “Africa is likely to pay $163 billion in 2024 alone in debt service, up from $61 billion in 2010,” he stated. “Debt service exceeds social spending by two-thirds in Africa and low-income countries… as a result of the debt crisis, children are starving…the planet is burning, and extreme poverty is rising.”
The President of Ireland also pointed to the severe shortfall in climate finance for affected countries, noting that current contributions from the global North for climate-hit countries remained grossly insufficient.
On food insecurity, Higgins revealed stark statistics: “Half of the world’s over 8 billion population are defined as malnourished… More than 1 billion people in Africa struggle to afford a healthy diet.” He emphasized that conflict has become the main driver of food insecurity, affecting 135 million people across 20 territories.
Higgins called for comprehensive systemic reform, arguing that, “Current debt relief frameworks are simply not working.” He proposed capping debt service at 15 percent of revenue for countries outside capital markets, a move that could potentially save sub-Saharan Africa at least $97 billion annually for vital social and environmental programs.
Dr. Adesina commended President Higgins for his longstanding commitment to Africa’s development, noting his work in Africa spanning over 50 years. He also highlighted Ireland’s €35 million pledge to the African Development Fund’s 16th replenishment and €6 million contribution to climate adaptation through the African Climate Change Fund. “Ireland officially joined the African Development Bank Group as the 81st shareholder in April 2020 and has proven to be a committed supporter of Africa,” Adesina stated.
In a post-address dialogue, Higgins and Adesina highlighted how African smallholder farmers can compete effectively globally when properly supported – a point powerfully illustrated by an anecdote about Malawi’s transformation from food aid recipient to exporter after implementing extensive farmer support programs. “The export of primary commodities in their raw form is the door to poverty, and value addition is the gateway highway to wealth,” Dr. Adesina stressed.
Professor Urama stressed the importance of these discussions in shaping Africa’s development strategies. “As we find ourselves at the midpoint towards achieving sustainable development in Africa, we must continue innovating, collaborating, and pushing boundaries to find solutions that empower future generations,” he said.
Since its inception in 2006, the Kofi Annan Eminent Speakers’ Lecture Series has featured prominent global leaders, including former presidents Kenneth Kaunda of Zambia, John Agyekum Kufuor of Ghana, and Festus Mogae of Botswana, alongside Nobel Laureates such as Leymah Roberta Gbowee, Wangari Maathai, Professor Joseph Stiglitz, and Esther Duflo.
Source: www.afdp.org
