Newsbrief: African Nations Must Regulate ‘Debt Trap’ Loans — Malema
South African opposition leader Julius Malema has warned African nations against “debt trap” loans from the World Bank, IMF, and similar institutions, saying such borrowing can mortgage the continent’s future.
Speaking at the Nigeria Bar Association Annual General Conference in Enugu, Malema highlighted South Africa’s Public Finance Management Amendment Bill, aimed at requiring parliamentary approval for foreign loans and ensuring transparency in their terms.
He also called for stronger Nigeria–South Africa cooperation in industrialisation, resource processing, and economic self-sufficiency, asserting that Africa’s future lies within the continent, not in foreign capitals.
By Emmanuel Egobiambu | Updated August 24, 2025
#AfricaDebtCrisis #JuliusMalema #EconomicFreedom #NigeriaSouthAfricaPartnership
South African opposition leader Julius Malema has warned African nations against “debt trap” loans from the World Bank, IMF, and similar institutions, saying such borrowing can mortgage the continent’s future.
Speaking at the Nigeria Bar Association Annual General Conference in Enugu, Malema highlighted South Africa’s Public Finance Management Amendment Bill, aimed at requiring parliamentary approval for foreign loans and ensuring transparency in their terms.
He also called for stronger Nigeria–South Africa cooperation in industrialisation, resource processing, and economic self-sufficiency, asserting that Africa’s future lies within the continent, not in foreign capitals.
By Emmanuel Egobiambu | Updated August 24, 2025
#AfricaDebtCrisis #JuliusMalema #EconomicFreedom #NigeriaSouthAfricaPartnership
Newsbrief: African Nations Must Regulate ‘Debt Trap’ Loans — Malema
South African opposition leader Julius Malema has warned African nations against “debt trap” loans from the World Bank, IMF, and similar institutions, saying such borrowing can mortgage the continent’s future.
Speaking at the Nigeria Bar Association Annual General Conference in Enugu, Malema highlighted South Africa’s Public Finance Management Amendment Bill, aimed at requiring parliamentary approval for foreign loans and ensuring transparency in their terms.
He also called for stronger Nigeria–South Africa cooperation in industrialisation, resource processing, and economic self-sufficiency, asserting that Africa’s future lies within the continent, not in foreign capitals.
By Emmanuel Egobiambu | Updated August 24, 2025
#AfricaDebtCrisis #JuliusMalema #EconomicFreedom #NigeriaSouthAfricaPartnership
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