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Top 10 Countries In Africa With Largest Debts In Mid-2024

Published

2 years ago

October 26, 2024

Editor

Due to issues including excessive borrowing, poor economic management, unstable political environments, and volatile commodity prices, many African countries are today struggling with huge amount of debts.

Here are the top 10 countries in Africa with the largest debts in mid-2024.

Eritrea (210.6% of GDP)
Eritrea holds the highest debt ratio in Africa, significantly exceeding its annual economic output.\

Sudan (146.5% of GDP)
Sudan is a nation in Northeast Africa that is now dealing with famine, political unrest, and economic hardships that have left it with one of the biggest debt loads on the continent.

Zambia (107.5% of GDP)
Zambia is in huge debt distress due to heavy borrowing for infrastructure projects, particularly from external sources.

Cape Verde (107.1% of GDP)
Cape Verde is a tourism-dependent island country in the central Atlantic Ocean. The country’s borrowing during the COVID-19 pandemic contributed to its debt rise.

Mozambique (97.5% of GDP)
Mozambique’s debt load is associated with both the notorious “hidden debt” scandal and public spending.

Congo (Republic of the Congo) – (94.7% of GDP)

The Republic of the Congo is heavily debt-ridden due to its reliance on oil revenues and the volatile nature of oil prices.

Zimbabwe (87.2% of GDP)
Zimbabwe’s debt is tied to years of hyperinflation, currency devaluation, and economic mismanagement.

Malawi (85.4% of GDP)
Malawi, an Island nation in southeastern Africa, is distinguished by its highland territory divided by the Great Rift Valley, and the massive Lake Malawi. The country’s debt issues stem from its dependence on foreign aid and agricultural instability.

Ghana (82.4% of GDP)

Ghana is West Africa’s second most populous country, with a population of approximately 35 million.

The country still struggles with high debt levels, worsened by inflation, and a depreciating currency despite its economic reforms.

Mauritius – 79.1% of GDP
Mauritius, an Indian Ocean Island nation off the southeastern coast of East Africa, east of Madagascar is known for its beaches, lagoons and reefs.

The Island nation’s debt increased due to the economic impact of the COVID-19 pandemic, particularly in the tourism sector.

Headline

Indian Court Denies Bail To Nigerian Man Over Drug Charges

Published

2 hours ago

May 28, 2026

Editor

A court in India has denied bail to a 44-year-old Nigerian national, Cristian Soporuchukwu, who is currently facing drug trafficking charges in the country.

Cristian Soporuchukwu initially entered India on a business visa but was later arrested over allegations of involvement in the sale of hard drugs.

Reports indicated that after arriving in India, Soporuchukwu travelled through Goa, Delhi, and Mumbai, where he allegedly established links with suspected drug traffickers.

He was accused of purchasing MDMA crystals and distributing them to college students and information technology workers.

According to reports, operatives of the Beguru Police arrested Cristian Soporuchukwu in April 2025 for allegedly selling MDMA crystals around Begur Lake and the AECS Layout Road area.

The New Indian Express reported that the High Court of Karnataka subsequently dismissed the Nigerian’s bail application.

“The anti-narcotics wing seized about 1 kg of MDMA crystals, a pocket weighing machine, 10 zip-lock covers, a mobile phone and a scooter from him,” the report stated.

Justice V. Srishananda, while ruling on the bail application, reportedly held that errors relating to the grounds of arrest could not automatically justify bail in serious narcotics-related offences under the Narcotic Drugs and Psychotropic Substances, NDPS, Act.

The court further noted that Cristian Soporuchukwu had allegedly overstayed his visa in India, according to the report.

Headline

Strait Of Hormuz: US Announces Sanctions Against Iran

Published

2 hours ago

May 28, 2026

Editor

The United States Treasury has announced sanctions against Iran’s Persian Gulf Strait Authority.

Treasury Secretary, Scott Bessent, said this in a statement on Wednesday.

The statement extended the threat of sanctions to anyone paying the fees, saying they may be providing support to and receiving services from Iran’s Revolutionary Guards, and therefore may be exposed to sanctions risk.

“The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash.

“Treasury has deprived the Iranian regime of revenue for their weapons programs, terrorist proxies, and nuclear ambitions,” Bessent said.

Bessent added that the US has succeeded in disrupting tens of billions of dollars’ worth of revenue from being accessible to Tehran.

Headline

US Launches New Airstrikes On Iran

Published

3 hours ago

May 28, 2026

Editor

The United States has launched new airstrikes in southern Iran.

The strike shot down four one-way attack drones that posed a threat around the Strait of Hormuz and then a ground control site.

A US official revealed that American forces struck an Iranian ground control station in Bandar Abbas that was about to launch a fifth drone.

The official described the strikes as purely defensive, saying the US intended to maintain the ceasefire.

Report says this is the second time in three days that the US has carried out self-defense strikes against Iranian military targets in southern Iran.

Recall that on Monday the US carried out airstrikes against Iranian missile locations and boats that US Central Command said were preparing to launch mines in the Strait of Hormuz.