Africa’s debt conversation is getting louder. Several governments across the continent are juggling heavy debt burdens while trying to grow their economies.
While it isn’t a bad thing for a country to borrow, high debt-to-GDP ratios can limit spending power and increase financial pressure, especially when global interest rates are high.
According to Q4 2025 data from the Institute of International Finance’s Global Debt Monitor, global debt remains high. 
Here are African countries currently with the highest debts as of Q4 2025:
1. Senegal
Senegal’s debt got way more complicated in Q4 2025. After an audit revealed much higher debt than originally reported, its debt-to-GDP ratio was estimated at 156%, making it one of the highest on the continent. The government is juggling the fallout from this revelation with ongoing negotiations with the IMF and efforts to boost revenue, including new bond issuances that surprisingly attracted strong investor interest.
2. South Africa
South Africa’s debt isn’t quite at the extreme levels of Senegal’s, but it’s still substantial. Recent official numbers suggest its debt is peaking at 149% of the country’s total GDP, and there’s a bit of optimism from the finance minister that the worst of the buildup might be behind the country. Even with the debt concerns, South Africa’s economy is a major player across the continent, so its debt decisions are watched closely by investors.
3. Tunisia
Tunisia has been dealing with ongoing fiscal pressures, and recent estimates suggest its government debt will stand at 143% of GDP as of late 2025. Tunisia’s debt ratio isn’t the highest in Africa, but it does indicate fiscal stress that policymakers are advised to manage carefully, especially as global interest costs fluctuate.
5. Republic of the Congo
The Republic of the Congo’s debt ratio has been reported as 131% of the country’s total GDP mark, meaning that almost as much as the country earns in a year goes toward servicing its debt. This makes it quite sensitive to commodity price swings, especially oil, since weaker revenues can quickly make it harder to keep up with repayments.
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6. Morocco
Morocco’s debt is moderate compared with the very top tier, sitting in the lower part of the list. Morocco’s debt is at 124% of the GDP. Many analysts consider Morocco’s debt more manageable due to diversified borrowing and a relatively stable financial economy.
7. Zambia
Zambia has struggled with debt for years and even went through formal restructuring negotiations after experiencing difficulty servicing its loans. Latest data put its debt to GDP at 120%, which underlines persistent fiscal strain. The country has been trying to balance debt relief efforts with growth strategies so it can attract more investment without repeating past borrowing cycles.
8. Mozambique
Mozambique’s debt has also remained on the high side after past controversies around undisclosed loans that triggered financial stress. Current figures suggest its debt is at 118% of GDP, reflecting the legacy of hidden borrowing and ambitious infrastructure financing. Managing this level responsibly while promoting growth remains a delicate act for the government.
8. Rwanda
Rwanda isn’t as high as some others on the continent, but its debt is still notable, currently at 113%. This sustained investment in development and public services, but also a careful approach to debt management relative to its GDP size. Rwanda’s strong growth focus helps give more context to its borrowing.
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9. Egypt
Egypt features prominently on broad lists of Africa’s debt because its absolute level of government borrowing and external obligations is very large, as the debt-to-GDP is at 102%. The country has been working with the IMF on economic reform programmes to help stabilise public finances, reduce inflation, and attract more investment.
10. Kenya
Kenya’s debt isn’t among the very highest if you look at pure government debt. Currently at 100%. The government has set targets to gradually bring this ratio down in the coming years, though protests and economic pressures have complicated that path.
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