African countries with highest debt to China 2022
Following news that Uganda has lost its international airport and other state assets to China over their failure to pay a $207million loan deal, Africans have become concerned about whether their various countries also owe China loans.
The statistics below are according to China Africa Research Initiative, Johns Hopkins University School of Advanced International Studies.
We present to you Top 10 African countries that owe China huge sums of money in loans:
- Angola: Angola tops the list with a debt of $43.2 billion dollars owed to China. This particular country is struggling to pay off their loans, meanwhile, they keep going for more.
- Ethiopia: Second on the list is Ethiopia with a debt standing at $13.7 billion.
- Zambia: sitting at the third position is Zambia with $9.7billion dollars.
- Kenya: The eastern African country owes China $9billion dollars in debts
- Sudan: Sudan owes China a debt of $6.8billion and they occupy the 5th position
- Nigeria: the most-populated African countries owes China a debt of $6.2 billion and they occupy the 6th position.
- Cameroon: the French-speaking country owes China $5.9 billion according to the records and they sit at the 7th position.
- Republic of Congo: Occupying the 8th position is Republic of Congo — they owe China $5.1 billion in loans.
- Egypt: the Arab country owes China a debt of $4.2billion dollars.
- Ghana: At the 10th position is Ghana, who owes China $3.7 billion dollars. Most of this loans were taken under the Nana Addo-led, NPP government.
China as a nation is getting more powerful by day — they are undeniably the richest country on earth. Due to this, they are giving loans upon loans to African countries.
This is becoming worrisome in recent years because their loans come with some strict clauses. Something must be done about this.