African countries now hold approximately $1 billion in blocked airline funds, representing 59% of the global total of $1.7 billion, according to the latest International Air Transport Association (IATA) report.
The situation is particularly acute in Central and West Africa. The XAF Zone, which includes Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon, has seen blocked funds rise by $84 million to reach $235 million.
The West African XOF Zone, comprising Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, and Togo, has reported $73 million in blocked funds.
Mozambique has seen its blocked funds rise by $84 million to reach $127 million, while in Eritrea, airlines face holding periods of up to 96 months for their funds.
IATA Director General Willie Walsh has emphasised that these restrictions pose risks to both airlines and the broader economic landscape, affecting travel, trade, and tourism.
