in , , ,

Africa’s Top 10 Most Indebted Countries According to World Bank Revealed – Is your country among?

Being in debt is such an uncomfortable position to be as a person, company or a country.  Debt is nearly inevitable, and despite Africa’s fast-growing economy rate, there are countries which owe billions or even trillions of dollars, making them the most Indebted African Countries.

Below are the top 10 indebted countries in Africa, according to World Bank and CIA World Factbook with information regarding the external debt of each country. External debt is the total public and private debt owed to nonresidents, repayable in internationally accepted currencies goods or services. The number one country will shock many people.

Most Indebted African Countries 

  • South Africa – 137,500,000,000
  • Egypt – 48,760,000,000
  • Sudan – 39,700,000,000
  • Morocco – 29,420,000,000
  • Tunisia – 24,490,000,000
  • Angola – 19,650,000,000
  • Ghana –
  • Tanzania – 11,180,000,000
  • Nigeria – 10,100,000,000
  • Ethiopia – 9, 956.000,000

1.South Africa – 137,500,000,000

Debited African Countries.

The country recorded a government debt equivalent to 50.10%t of the country’s GDP in 2015. The debt of the Government to GDP in South Africa was an average of 37.89 percent from 2000 until 2015.  The highest was  50.10 percent in 2015, and the lowest was 27.80 percent in 2008.

Entrepreneurs use the Government’s debt as a percent of GDP to gauge the country’s capability to offset its debt in the future, thus affecting the country borrowing costs and government bond yields.

2.Egypt – 48,760,000,000

In the fourth quarter of 2016, Egypt’s External Debt rose to 67322.60 USD Million from 60152.60 USD Million at the end of the third quarter of the same year. External Debt in Egypt was an average 33433.40 USD Million from 1997 until 2016.  The debt recorded a low of 26132.50 USD Million in the first quarter of 2001.  In the country, external debt is a part of the total debt that it owes to creditors outside the country.

3.Sudan – 39,700,000,000

In 2015 Sudan public debt was 59,372 million dollars, has increased 4,469 million since 2014.It implies that the borrowing in 2015 reached 72.91% of Sudan’s GDP, a 4.35 percentage point falls from 2014 when it was 77.26% of GDP. Sudan’s debt has been on the rise since 2005 in global debt terms when it was 25,152 million dollars although it had fallen as a percentage of GDP when it amounted to 94.95%.In 2005, was 713 dollars per person.  However, the position of Sudan as one of the most indebted African countries has significantly improved in 2015 regarding GDP percentage.

4.Morocco – 29,420,000,000

External Debt in Morocco increased to 46499.84 USD Million dollars in the third quarter of 2016 from 45300.64 Million dollars in the second quarter of 2016. External Debt in Morocco averaged at 27165.24 USD Million between 2006 and 2016, reaching a high of 46552.41 USD Million in the third quarter of 2016 and a record low of 15070.91 USD Million in the first quarter of 2007.

5.Tunisia – 24,490,000,000

Money indebted by African Countries


In 2015 Tunisia public debt was 24,275 USD million dollars, has increased 264 million since 2014.The amount of debt in 2015 reached 55.71% of Tunisia GDP. A 4.15 percentage point rise from 2014 when it was 51.56% of GDP.Since 2005, the debt has been growing and is the fourth most indebted African countries.

Tunisia per capita debt in 2015 was 2,157 dollars per inhabitant. In 2014 it was 2,232 dollars, after that increasing by 75 dollars, and in 2005,  the debt per person was 1,687 dollars. The position of Tunisia, as compared with the rest of the world, has improved in 2015 regarding GDP percentage.

6.Angola – 19,650,000,000

The External Debt in Angola rose from 35933.10 USD Million in 2014 to 36278.70 USD Million in 2015. However, from 2002 to 2015, it averaged 17463.91 USD Million reaching a high of 36278.70 USD Million and a low of 7594.83 USD Million in 2006.

7.Ghana –

Ghana’s public debt was 26,686 million dollars, in 2015 and still rank as one of African indebted countries. It has risen by 1,168 million since 2014.In 2015, the debt was 70.82% of Ghana GDP, a 1.33% point drop from 2014, when it was 72.15% of GDP.Ghana’s  global debt has been rising since 2005 when it amounted to 8,368 million dollars and also regarding GDP percentage when it was 47.99%.The country’s per capita debt in 2015 was 974 dollars per inhabitant. In 2014 it was 1,040 dollars, and later went up by 66 dollars, and in 2005, the debt per resident was 392 dollars. Regarding GDP percentage, Ghana’s position improved in 2015.

8.Tanzania – 11,180,000,000

In Tanzania, the External Debt increased to 17440.90 USD Million in January from 16986.20 USD Million in December 2016. The External Debt in Tanzania maintained an average of 12805.61 USD Million from 2011 until 2017, recording an all-time high of 17440.90 USD Million in January of 2017.  In December of 2011, it recorded a low of 2469.70 USD Million.

9.Nigeria – 10,100,000,000

Nigeria’s Internal Debt rose to 11406.28 USD Million in the fourth quarter of 2016. In the third quarter of 2016, it was  1,1261.89 USD Million. It averaged 6920.43 USD Million between 2008 and 2016,  in the fourth quarter of the same year it was the highest at 11406.28 USD Million and a recorded a decrease to 3627.50 USD Million in the first months of 2009.

10.Ethiopia – 9, 956.000,000

Resemblance of the African indebted countries

Ethiopia’s public debt in 2015 amounted to 34,539 million dollars, has been on the increase since 2014with a rise of 8,843 million.The debt in 2015 reached 56.05% of the country’s GDP, a 9.75 percentage point increase when it was 46.3% of GDP in 2014.

It has risen since 2005 in global debt when it amounted to 9,695 million dollars although it dropped as a percentage of GDP when it was 78.24%.Ethiopia per capita debt in 2015 was 348 dollars per inhabitant. In 2014 it was 265 dollars, afterward rising by 83 dollars.The debt per person was 129 dollars in 2005.

Ethiopia’s situation has worsened in 2015 concerning GDP percentage, making it the tenth of the most indebted countries in Africa.


Africa’s debt can be minimalized through tax collection, transparency and tapping into local currency debt markets.  These are avenues that the continent’s large borrowers should not ignore.


Written by How Africa

Leave a Reply

Your email address will not be published. Required fields are marked *


Mohamed Salah’s Brilliant Gesture Reduces Father and Son to Tears [Video]

Grace Mugabe’s Net worth Revealed- 10 Most Expensive Properties She Owns