Guterres demands global financial justice for Africa

United Nations Secretary-General António Guterres at a past event. [AFP]

United Nations Secretary-General António Guterres has strongly criticised the global financial system for what he termed unfair treatment of African countries.

Guterres says the continent continues to pay a heavy price for exclusion from major global decision-making institutions.

Speaking in Nairobi during his visit for the inaugural Africa Forward Summit 2026, Guterres said African nations are forced to borrow at significantly higher costs than developed economies despite facing urgent development challenges.

“It is unacceptable that African countries pay more than three times more than developed countries to obtain the loans they need for development,” Guterres said.

The UN chief argued that the current international financial architecture was designed without Africa’s participation, leaving the continent disadvantaged in institutions such as the International Monetary Fund (IMF), World Bank, and the United Nations Security Council.

“The essential institutions of governance in the world were done without the African presence and the region is paying the huge price for debt,” he said.

Guterres renewed calls for reforms to global governance systems, insisting Africa deserves permanent representation at the UN Security Council and a stronger voice within global financial institutions.

“There will be no justice before there are permanent African countries in the Security Council and there would be no justice before Africa has its right share in the IMF or the capital of the World Bank,” he said.

He pledged continued support for Africa’s push for equity in global governance and economic systems.

“The African continent can count on me. I will always be at your side to correct injustice,” he added.

Guterres also praised African governments for increasing efforts to mobilise domestic resources and drive economic transformation despite mounting debt pressures and rising borrowing costs.

Health Cabinet Secretary Aden Duale welcomes UN chief António Guterres at JKIA, Nairobi. [Courtesy, X/Duale]

His remarks came as President William Ruto and the UN Secretary-General commissioned the USD 340 million expansion of the United Nations Office at Nairobi (UNON), a major project expected to strengthen Nairobi’s position as a global diplomatic and development hub.

The redevelopment includes modern climate-smart office buildings and upgraded conferencing facilities that will increase meeting rooms from 14 to 30 and delegate capacity from 2,000 to 9,000 people.

Once completed, the expansion will elevate Nairobi into the third-largest UN duty station globally after New York and Geneva, ahead of Vienna.

The UN says the project reflects a broader effort to decentralise global governance and bring multilateral institutions closer to regions most affected by climate change, conflict, and development challenges.

UN Under-Secretary-General and Director-General of UNON Zainab Hawa Bangura described the investment as a historic moment for the continent.

“This is a defining moment for the United Nations in Africa. Nairobi is not only a host city; it is a strategic centre for delivering the United Nations’ work in the 21st century,” Bangura said.

The United Nations Office at Nairobi remains the only UN Secretariat headquarters in the Global South and currently hosts more than 4,000 personnel and 88 UN offices serving over 160 countries.

During his visit, Guterres is also expected to hold discussions on peace, climate action, and humanitarian crises affecting Sudan, South Sudan, eastern Democratic Republic of Congo, and the Sahel region.