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Top 10 African countries with the highest leap in government debt from 2024 to 2025
In recent years, general government debt has fluctuated significantly across several African countries. Some issues, including continuous fiscal deficits, currency devaluation, rising interest rates, global economic shocks, and the aftermath of the COVID-19 epidemic, have prompted African governm...
Business Insider Africa
published: Jun 18, 2025
In recent years, general government debt has fluctuated significantly across several African countries. Some issues, including continuous fiscal deficits, currency devaluation, rising interest rates, global economic shocks, and the aftermath of the COVID-19 epidemic, have prompted African governments to borrow more money in order to cover revenue shortages.
- Business Insider Africa presents the top 10 African countries with the highest leap in government debt from 2024 to 2025.
- This list is courtesy of the Africa Pulse report by the World Bank.
- South Sudan ranks number 1 in the list.
Although debt may be an essential instrument for funding development, its sharp annual growth is posing questions about long-term viability, economic expansion, and public welfare.
Countries like Ghana, Zambia, Kenya, and Egypt have witnessed substantial debt increases, while Nigeria, despite historically low debt-to-GDP ratios, has had its debt service-to-revenue ratio balloon in recent years.
As governments borrow year after year to fund infrastructure, pay salaries, and service previous debts, their capacity to manage new debt loads deteriorates.
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The increase in debt levels inevitably leads to increases in interest payments.
For many African countries, debt payment consumes a huge amount of their budget, leaving little for key areas such as education, healthcare, and infrastructure.
Large government borrowing frequently causes inflationary pressures, especially when supported by central banks.
Furthermore, large debt loads make currencies more vulnerable to speculative attacks, reducing buying power.
Rising debt levels, particularly when combined with insufficient transparency, undermine investor trust. This might lead to greater risk premiums, less foreign direct investment (FDI), and more volatility in financial markets.
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The factor mentioned above shows that while debt may be a strong economic instrument when managed wisely, the year-on-year increase in general government debt across Africa presents severe difficulties.
Rising debt burdens, if not addressed, might set off a vicious cycle of default, austerity, and underdevelopment.
With that said, here are the 10 African countries with the highest increase in general government debt (as a measure of debt-to-GDP ratio) from 2024 to 2025, according to the Africa Pulse report by the World Bank.
Top 10 African countries with the highest leap in government debt from 2024 to 2025
| Rank | African country | General government debt (% of GDP) 2025 | General government debt (% of GDP) 2024 |
|---|---|---|---|
| 1. | South Sudan | 55.6% | 46.0% |
| 2. | Gabon | 80.2% | 72.5% |
| 3. | Rwanda | 84.8% | 78.8% |
| 4. | Ethiopia | 28.4% | 22.6% |
| 5. | Botswana | 39.7% | 35.3% |
| 6. | Democratic Republic of Congo | 26.0% | 22.1% |
| 7. | Mozambique | 96.8% | 94.2% |
| 8. | South Africa | 78.8% | 76.3% |
| 9. | Nigeria | 55.5% | 53.3% |
| 10. | Madagascar | 53.3% | 51.3% |
