46TH ORDINARY SESSION OF THE EXECUTIVE COUNCIL OF THE AFRICAN UNION
Theme:
Justice for Africans and People of African Descent Through Reparations
Statement
By
Mr. Claver Gatete
United Nations Under-Secretary-General and
Executive Secretary of ECA
Addis Ababa
12 February 2025
Your Excellency, Moussa Faki Mahamat, Chairperson of the African Union Commission,
Excellencies, Heads of Delegation of AU Member States,
Representatives of Regional Economic Communities, International Organizations and Development Partners,
Distinguished Delegates:
It is an honour to address this esteemed gathering at the 46th Ordinary Session of the Executive Council of the African Union under the significant theme: “Justice for Africans and People of African Descent Through Reparations.”
I wish to extend my gratitude to the African Union Commission for prioritizing this theme of the year, and I would like to use this opportunity to congratulate the AU Chairperson, H.E. Moussa Faki Mahamat, for his exemplary leadership throughout his tenure.
I also salute the Heads of State and Government who have committed to launching the 2025 theme in their respective countries, demonstrating their collective resolve to secure justice for Africa and its diaspora.
Excellencies,
Distinguished Delegates,
We cannot contest the fact that the transatlantic slave trade and colonial exploitation robbed Africa of its people, resources and dignity, and left behind inequalities that persist in global financial systems, trade structures and governance institutions, till this day.
The extraction of Africa’s resources without corresponding development, the undervaluation of African economies in global credit assessments, and the systemic barriers to trade and investment are, indeed, contemporary manifestations of these historical injustices.
It is therefore crucial that these, beyond financial compensation, must be addressed as part of our conversation on reparative justice.
Excellencies,
Distinguished Delegates,
Africa’s current global financial standing reveals the stark inequalities it faces.
The continent possesses 30% of the world’s mineral reserves, including 40% of its gold and up to 90% of its chromium and platinum.
It also contains as much as 65% of the world’s arable land.
Yet Africa accounts for less than 3% of global trade and only 1% of global manufacturing output.
Furthermore, in 2023 for example, intra-African trade stood at just 16%, compared to intra-European trade at 68%.
Moreover, it is unjust that the entire African continent, with its 54 nations, has an IMF shareholding equal to that of a single country – Germany.
These disparities are not due to a lack of economic potential but to entrenched structural barriers that keep Africa in a cycle of economic dependency.
Distinguished Delegates,
In addition to this, the injustice extends to Africa’s credit ratings, which are dominated by external agencies that sometimes apply unfair and subjective assessments to African economies.
As we speak, only two African countries – Botswana and Mauritius – hold investment-grade ratings, while others, despite sound economic fundamentals, are burdened with high-risk labels.
This situation inflates borrowing costs, stifles investment and keeps African economies locked in debt cycles.
Added to these economic disparities is the fact that although Africa contributed the least to climate change, it is suffering the most from its effect.
Currently, climate change is costing Africa up to 5% of GDP.
Yet, of the US$10 trillion invested globally in clean energy between 2015 and 2022, Africa received only 2%.
This must change.
Africa cannot build prosperity on a foundation designed to constrain its growth.
To translate this call for justice into tangible outcomes, I propose five key areas of focus.
First, the current global financial architecture is outdated, inequitable and unjust and must be reformed to be fit for purpose.
We must advocate for debt restructuring that allows African nations to invest in their people and development instead of paying exorbitant interest rates.
A just world requires governance reforms in international financial institutions to ensure that Africa has a stronger voice in shaping global economic policies.
Also, it is imperative to establish an African-led credit rating agency to ensure fair assessments reflect Africa’s true economic realities rather than outdated risk perceptions.
Second, the African Continental Free Trade Area (AfCFTA) is a game-changer.
With a market of 1.5 billion people and a combined GDP of over US$ 3 trillion, it presents an unparalleled opportunity to boost industrialization and trade within the continent.
It is therefore essential to fully harness the AfCFTA’s potential to accelerate investments in infrastructure and manufacturing to reduce dependency on external markets.
It is also paramount that we develop regional value chains to ensure that Africa produces and processes its own raw materials, and creates jobs and industries that benefit Africans.
Third, we must prioritize in-continent value addition on Africa’s vast mineral wealth.
For centuries, Africa’s wealth has fueled the prosperity of others while its own people remain impoverished.
This must end.
Africa’s resources must benefit Africans first, rather than being exported in raw form and re-imported at higher costs.
True reparative justice means that Africa’s resources must work for Africa.
Fourth, we must recognise that Africa’s strength extends beyond its borders.
In this regard, the African diaspora which is connected to the continent through historical injustices must be a key partner in our development.
To this end, we must foster economic and cultural partnerships with the diaspora through investment platforms and heritage initiatives, such as establishing scholarship programs for descendants of enslaved Africans to reconnect with and contribute to Africa’s development.
Furthermore, we must reclaim our identity and history by demanding the restitution of stolen African artifacts and cultural heritage.
Finally, the forced movement of our ancestors centuries ago, must now be countered with freedom of mobility.
We must accelerate African integration because a fragmented Africa can never reach its full potential.
This requires that we implement the AU Protocol on Free Movement of Persons to facilitate trade, knowledge transfer and cultural unity, and strengthen regional economic cooperation to enhance resilience and shared prosperity.
Excellencies,
The injustice of the past must no longer define Africa’s future.
We have the tools, the resources and the will to reclaim Africa’s agency.
And the ECA remains steadfast in our commitment to work with you to bridge the gap between Africa and its diaspora, reclaim our economic sovereignty, and secure a future where all Africans can live with dignity and prosperity.
I thank you for your kind attention.