100 days to the G20: Will the G20 break Africa’s debt trap?

Johannesburg, South Africa (14 August 2025): With just 100 days to go until the G20 Summit in South Africa, the ONE Campaign is calling on G20 leaders to seize this moment to deliver a clear roadmap for reforming the global financial system and lowering the cost of capital for African countries and other emerging markets.

Lowering Africa’s borrowing costs demands coordinated action from African and international policymakers, investors and financial institutions. This means improving the availability and quality of economic data, dismantling outdated and biased perceptions of risk and scaling innovative financing tools that reduce investment risks. Without these reforms, too many African countries will remain locked in a vicious cycle where debt repayments swallow more resources than investments in critical resources.

Kerezhi Sebany, Director, Economic Opportunities for Africa at the ONE Campaign, said: “Every extra percentage point Africa pays to borrow is a classroom not built, a clinic not stocked with medication and a road not paved. This isn’t just an African problem, it’s a global missed opportunity. The G20 has the power to change the rules, to make access to capital fairer and to unlock the investment needed to drive sustainable growth for billions. In 100 days, the world will be watching to see if the G20 choose courage over complacency.”

The ONE Campaign is urging G20 to announce a bold, time-bound implementation roadmap at the Summit, one that reforms credit rating systems, improves data transparency, expands access to concessional finance and harmonises reforms across jurisdictions to level the playing field for Africa and other developing economies.