10 African Countries with the highest debt to China A debt is the sum of money that is borrowed for a certain period of time and is to be returned along with the interest. This is common with individuals, banking institutes, and in recent decades, countries. Many African countries considered to be underdeveloped, seeking to meet up with development goals, and improve standards of living of citizens' turn to borrow from rich nations of the West, America, and most commonly China. Hello, and welcome. You are watching Africa Reloaded. Today we'll be discussing the top 10 African countries with the highest debt to China. China's increasing presence in Africa has led to concerns about the level of debt that African countries have accumulated as a result of their relationship with China. We'll be looking at the countries that have the highest levels of debt to China and the implications of this debt. Before we begin, please take a few seconds to like this video. 10 Angola Angola is a southern African nation whose very terrain encompasses tropical Atlantic beaches, a laboring-themed system of rivers and sub-Saharan desert that extends across the border into Namibia. Despite extensive oil and gas resources, diamonds, hydroelectric potential, and rich agricultural land, Angola remains poor, and a third of the population relies on subsistence agriculture. Angola is currently the African country with the highest debt to China, only a total of $25 billion. This is a significant amount, considering that Angola's total external debt is $64.5 billion. The majority of this debt was incurred through Chinese loans to finance infrastructure projects such as roads, railways, and ports. 9 Ethiopia Ethiopia, in the Horn of Africa, is a rugged landlocked country split by the Great Red Valley. With archaeological fines dating back more than 3 million years, it's a place of ancient culture. This nation is not a rich country, thus it strives to improve living standards. Ethiopia, which has a debt of $13.5 billion owed to China. The majority of this debt was also incurred through infrastructure loans such as the Addis Ababa Jabobi Railway, which was built with the help of Chinese financing. Ethiopia's total external debt is $31.8 billion, which means that China accounts for over 42% of Ethiopia's external debt. 8 Kenya Kenya has a debt of $9.8 billion owed to China. This debt was incurred through a number of infrastructure projects, including the Standard Gage Railway, which connects Nairobi to Mambasa, and the Lomu Port South Sudan Ethiopia Transport, Lapset, Corridor. Kenya's total external debt is $35.1 billion, which means that China accounts for over 28% of Kenya's external debt. 7 Nigeria Nigeria is next on our list, with a debt of $3.4 billion owed to China. This debt was incurred through loans to finance infrastructure projects such as the Abu Jalait Rail and the Lagosibidin Railway. Nigeria's total external debt is $32.9 billion, which means that China accounts for just over 10% of Nigeria's external debt. 6 Zambia Zambia, which has a debt of $3.1 billion owed to China. The majority of this debt was incurred through loans to finance infrastructure projects such as the Can'tthconda. Currently, China owns $5.5 billion of Zambia's $17.3 billion debt, while the rest is owed to other rich countries and Western-dominated international institutions, including the development banks and the commercial Euro-bond market. China remains one of the major investors in the mining sector of Zambia. They have also widened their investments to mining support activities, which has required experts from China. 5. Cameroon The national debt of Cameroon from 2017 to 2022 in relation to gross domestic product, GDP, is on the rise from 36.54% to 44.86% and is continually increasing. This debt includes institutions like the World Bank, African Development Bank, and countries like USA, France, and especially China. According to the China Africa Research Initiative, CARI. $5 billion is close to the amount Cameroon has borrowed from Beijing since 2000, and it exceeds the amount the country is thought to still owe. This loan is taken from China by the Cameroon government is used for transport infrastructure, water, power, education, and much more. Please if you are enjoying the video, like and comment on it. 4. Sudan More than two decades ago, the sanctioned but oil-rich Sudan of Northern Africa had at least one friend. While the government in Hardham fought US sanctions against the country for suspected links to terrorists such as Osama bin Laden, China was funding Sudan's economy. Sudan supplied roughly 5% of China's imported oil. In exchange, Beijing and Chinese firms invested billions of dollars in Sudan's infrastructure, as well as its petroleum exploration, production, and for finery. Sudan's external debt reached 62.4 billion USD in December 2022, down from 77.2 billion USD the previous year. Of this huge external debts, Sudan owes China $2.5 billion. 3. The Democratic Republic of Congo Congo, Africa's second largest country by landmass, is rich in natural resources such as copper and cobalt, both of which are important components in electric vehicles, but it remains one of the world's least developed countries. Due to loans and other contracts, the majority of its minerals end up in China. According to the government, the Congo owes China $2 billion, while the country's overall debt stands at more than $10 billion, as of December 31, 2020, and is expected to rise further in 2023. 2. China China and Ghana have had diplomatic and trade relations since Ghana's independence and Chinese investments have steadily increased over the last two decades. These primarily included agriculture, manufacturing, and general trade in the early 2000s. As a result, Ghana has begun to demand money from China in times of need. China is widely regarded as the world's largest bilateral creditor. According to the International Institute of Finance, a financial services trade association focused on emerging markets, Ghana owes China $1.9 billion. 1. Ivory Coast By lateral trade between Ivory Coast and China has reached previously unheard of heights. China's imports increased from $100 in 2002 to over $1.57 billion in 2020, with increased trade and investment, as well as other forms of cooperation, the Ivory Coast, like many other countries, is indebted to China. This country, like most others, borrows from China in order to improve education, provides social amenities, and raises living standards. It is estimated that this country owes China approximately $1.7 billion. China accounts for about 12% of Africa's external debt of around $700 billion, with Angola, Ethiopia, and Ghana among its biggest creditors on the continent having defaulted on their debt obligations. Thank you for sticking with us until the end. Please share your thoughts with us in the comments section. Remember to like, share, and subscribe to Africa Reloaded. Bye!