This archive report was first published on 2 May 2021.
China's growing influence in Africa has sparked concerns over the continent's debt burden. In the past decade, China has invested heavily in various multi-billion shilling projects, but at what cost?
According to reports, many African countries are struggling to pay off their debts to China, with some nations channeling most of their oil sales towards repayment. Kenya is among the top ten African countries with the most debt owed to China, with an estimated $7.9 billion.
Here are the top ten African countries with the most debt owed to China:
- Angola: $25 billion (approximately Sh2.5 trillion)
- Ethiopia: $13.5 billion
- Kenya: $7.9 billion (approximately Sh800 billion)
- Republic of Congo: $7.5 billion (approximately Sh750 billion)
- Sudan: $6.4 billion (approximately Sh640 billion)
- Zambia: $6.5 billion (approximately Sh650 billion)
- Cameroon: $5.5 billion (approximately Sh550 billion)
- Nigeria: $4.8 billion (approximately Sh480 billion)
- Ghana: $3.5 billion (approximately Sh350 billion)
- Democratic Republic of Congo: $3.4 billion (approximately Sh340 billion)
China's business dealings in Africa have raised concerns over the continent's debt burden and the lack of transparency in these deals. As the debt continues to grow, it remains to be seen how African countries will manage to pay off their debts to China.
