Africa must stop borrowing from colonisers, they are debt traps — Malema

[AMTEntertain✅] 9/03/2025

Julius Malema, the leader of the South African opposition, has warned African countries against taking on too much debt from international financial institutions, claiming that doing so could put the continent's future in jeopardy.

The fiery politician revealed that in order to control foreign borrowing, his party has already submitted the Public Finance Management Amendment Bill to the South African parliament. Before obtaining loans from organizations like the World Bank and International Monetary Fund (IMF), the National Treasury would have to obtain legislative permission under the proposed bill.

Malema's warning coincides with growing debt worries in a number of African nations, such as Ethiopia and Nigeria, where loan repayments have reduced national income.

Noting that both countries possess the resources and human capital required to industrialize the continent, he also urged deeper connections between South Africa and Nigeria.

"Africans who will not be divided hold the key to our salvation here in Lagos and Johannesburg, in Abuja and Pretoria," Malema said.