Ghana : Thousands Demand Cancellation Of African Debt

A historic Pan-African Rally for debt cancellation, trade justice, an end to unjust debt and exploitative trade systems that have bled Africa of its wealth, took place on August 29, 2025 in the Ghanaian capital, Accra.  For more than an hour, participants marched from Obra Spot to the Independence Square carrying banners and placards reading “Cancel Africa’s Debt Now!”, “Debt Cancellation is Reparation!”, “People-Centred AfCFTA!”, and “Stop the Bleeding!”. The event organized by the African trade unions under the banner of the African Regional Organization of the International Trade Union Confederation (ITUC-Africa) and Trades Union Congress (TUC) of Ghana, together with civil society movements, faith leaders, youth, and women’s organizations, is part of Africa’s Non-State Actors, especially the Stop the Bleeding Consortium (STB-C).
During the rally, participants made it clear. Africa will no longer accept a system of modern-day neo-colonial exploitation in which our resources serve creditors instead of our people. “The bleeding of Africa must stop,” campaigners have declared, pointing to the stark reality that in a single year, Africa received USD 162 billion in loans, aid, and remittances but lost over USD 203 billion through illicit financial flows and profit repatriation, a net annual loss of USD 41 billion. In 2024, Africa’s sovereign debt reached USD 2.14 trillion, with 22 African countries at high risk of distress, and four already in default (Chad, Ethiopia, Ghana, and Zambia). Today, seven African countries spent more on servicing debt interest than on education, and 25 spent more on debt interest than on health. 
The May 2025 AU Debt Summit, in its Lome Declara...