Africa’s rising public debt is one of the most important forces shaping the continent’s economic future. This report delivers a data-driven analysis of Africa’s debt landscape, examining sovereign borrowing, fiscal sustainability, and the impact of debt on economic growth, infrastructure, and private sector development. By unpacking the structure of Africa’s $1.8 trillion debt market, the document explains who Africa owes, how borrowing costs affect development, and what smarter debt strategies mean for investors and policymakers. The report reframes Africa’s debt narrative from crisis headlines to strategic financial management, offering clear insights into risk, opportunity, and long-term economic stability across African economies.
Published
Jan 2026
Format
PDF · 50 pages
Coverage
Africa
What it found
$1.94TAfrica's debt stood at $1.94 trillion — just 1.9% of the global total.
8–15%African economies borrow at 8–15%, against 2–3% in advanced economies. The problem is the price of debt, not its size.
23The continent's debt-to-GDP ratio rose from 37% in 2010 to about 65% in 2024, with 23 African countries now above the 60% sustainability threshold.
Look inside
From this research
Debt
$1.83T
Africa's public debt rose from <strong>$510B</strong> in 2008 to <strong>$1.83T</strong> in 2024.
Debt Exposure
23
Countries are now above the <strong>60% debt sustainability threshold</strong> as fiscal pressure tightens.
Debt Service
26%
Of tax revenue is spent on interest payments in countries like <strong>Kenya and Ghana</strong>.
