Former Spain Foreign Affairs Minister Arancha González Laya said the rules governing capital deployment are no longer fit for purpose, especially for low‑ and middle‑income countries that face high financing costs and limited access to funds.
Speaking in an interview with Bernard Avle on Channel One TV’s The Point of View on Monday, September 14, 2026, González Laya highlighted that the cost of capital today is too high, not affordable, and not available at scale for developing nations.
She called for reforms in risk assessment, pricing and guarantees to enable greater capital flow to Africa, while stressing that African governments must effectively implement commitments they have made.
Using the African Continental Free Trade Area (AfCFTA) as an example, she noted Africa had made significant progress by integrating its markets, but progress is hampered by governments’ readiness to implement commitments and reduce trade borders.
González Laya urged businesses and civil society to be empowered as actors for change, emphasizing that agency comes with responsibility for shaping and implementing solutions to the continent’s development challenges.
