Africa three biggest economies – Nigeria, South Africa and Egypt – together owe China $17.2 billion, according to figures from World Bank and Central Bank of Egypt. The money no be one single loan; e cover different reporting periods and different debt categories, so the combined figure na rough total.
World Bank International Debt Report 2026 show say Nigeria owe China $5.67 billion at end of 2025. South Africa debt stand at $1.93 billion, while Egypt central bank put its own at $9.6 billion as of June 2025.
Nigeria own don climb from $5.32 billion for 2024 to $5.67 billion for 2025, continuing upward trend from $3.63 billion for 2021. China now account for nearly 85% of Nigeria $6.68 billion bilateral external debt, making Beijing largest government creditor.
Much of the borrowing centre on infrastructure, especially railways and transport networks wey suppose improve connectivity, make trade easier and reduce cost of moving goods across Africa most populous country.
But the loans dey come with fiscal pressure. World Bank estimate say more than 60% of people for Nigeria live below national poverty line in 2025, while rising food prices continue to squeeze household budgets. Employment also dey worry: 3.5 million people dey enter Nigeria labour force every year, adding pressure on economy wey no dey create enough productive jobs.
Beyond China, Nigeria total external debt reach $145.02 billion in 2025. Multilateral lenders hold $31.37 billion of its public and publicly guaranteed external debt.
Egypt, Africa second-largest economy by nominal GDP, owe China $9.6 billion as of June 2025. That figure na 5.9% of Egypt $161.2 billion external debt. Egypt also dey rely on Gulf governments, international institutions and private investors. Saudi Arabia account for $13.5 billion of Egypt external debt, United Arab Emirates follow with $11.7 billion, and Kuwait with $6 billion.
Egypt external debt-service payments reach $38.7 billion during 2024/2025 financial year, putting pressure on public finances and increasing demand for foreign currency.
World Bank talk say developing countries dey borrow more, pay more, and for many cases dey leave less money for long-term development. The three economies still get to manage debt repayment, fund infrastructure and improve living standards at the same time.
