Africa holds less than 2 percent of the world’s total debt, yet pays some of the highest borrowing costs globally. While advanced economies borrow at 2 to 3 percent, many African countries face rates between 8 and 15 percent, and sometimes even higher. This means Africa is paying far more to service debt that is much smaller in size compared to the rest of the world. The burden is not in how much Africa owes, but how expensive it is to borrow. Understanding this mismatch is key to understanding the continent’s financing challenges and why debt costs matter for growth, development, and investment.