African countries are repaying more to China than they receive in new loans, deepening debt pressures across the continent.
African nations are now sending more money to China in debt repayments than they receive in fresh loans, marking a sharp reversal in China’s role as a major lender. According to ONE Data analysis released on January 27, Africa shifted from a $30 billion net inflow from China in 2015–2019 to a $22 billion net outflow in 2020–2024.
A decade ago, China was a net credit provider to low- and middle-income countries. Today, it is a net extractor, as new lending has fallen while repayments continue to rise. This shift comes as African debt burdens increase, with the continent’s average debt-to-GDP ratio climbing from 44.4% in 2015 to 66.7% in 2024.
China remains a key creditor, with Angola, Ethiopia, Kenya, Zambia, and Nigeria among the largest borrowers. Meanwhile, multilateral lenders like the World Bank now account for a growing share of financing, as private and bilateral flows decline.
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