External debt remains a pressing issue for African economies, affecting financial stability and essential service funding. Rising debt burdens have strained national budgets and increased dependency on international lenders.
Afreximbank reports that in 2023, 67% of the continent’s external debt was concentrated in about 10 countries. Before the pandemic, over 30 African nations spent more on debt repayments than on healthcare.
Read also: Top 10 Africa’s most indebted countries in 2025
While borrowing can support infrastructure and critical sectors, sustainable debt management remains essential to mitigate financial risks and protect economic stability.
According to Global Firepower, here are the top 10 African Countries with the Largest External Debt in 2025
1. Egypt: $103.75 billion
Egypt tops the list with external debt standing at $103.75 billion. The country’s debt burden is closely linked to its economic policies and efforts to finance infrastructure projects.
2. South Africa: $58.77 billion
South Africa ranks second with external debt of $58.77 billion. The country’s debt reflects its reliance on international financing to support various sectors, including energy and manufacturing.
Read also: Africa’s 10 most indebted countries
3. Angola: $45.77 billion
Angola is third on the list with $45.77 billion in external debt. This is largely attributed to loans secured to develop its oil and gas industry, a major contributor to its economy.
4. Morocco: $45.64 billion
Morocco’s external debt stands at $45.64 billion, placing it fourth. Its borrowing is linked to investments in renewable energy and urban development projects.
5. Sudan: $37.84 billion
Sudan has an external debt of $37.84 billion, ranking fifth. Political instability and economic challenges have contributed to the country’s growing reliance on external borrowing.
Read also: Top 10 countries driving global public debt to $102tn in 2024
6. Nigeria: $32.46 billion
Nigeria is in sixth position with external debt totalling $32.46 billion. This reflects the country’s need to finance infrastructure and address economic shortfalls.
7. Kenya: $30.51 billion
Kenya has accumulated external debt of $30.51 billion, making it the seventh highest in Africa. Borrowing has been driven by efforts to modernise infrastructure and enhance trade.
Read also: Nigeria tops list: 6 African countries with highest debt to World Bank’s IDA
8. Tunisia: $27.08 billion
Tunisia’s external debt is $27.08 billion. The country has relied on external financing to support economic recovery and maintain public services.
9. Ethiopia: $25.76 billion
Ethiopia ranks ninth with external debt at $25.76 billion. Infrastructure development, particularly in transport and energy, has driven its borrowing.
10. Ghana: $22.55 billion
Ghana completes the list with an external debt of $22.55 billion. Borrowing has been directed towards improving infrastructure and managing public services.
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