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Here Are Top 5 African Countries That Owe China Huge Amount Of Money, See Where Kenya Is

Here are top 5 African countries that owe China huge amount of money. See where Kenya is.

As a proportion of gross domestic product and of export earnings, Africa's debt of about $350 billion is the highest of any developing region. The high loan levels impede public investment in infrastructure and human development.

Here are the top 5 countries that owe China.

1. Angola

This is the most indebted African country, with estimated debts of about $25 billion. The Southern African nation has appeared to struggle to pay off this debt with reports that most of the sales of its oil are channeled towards loan repayment.

2. Ethiopia

This country now owes an estimated $16 billion to Chinese lenders, roughly half of Ethiopia's total loan. Abigail has called for debt forgiveness for the world's poorest countries from all international lenders.

3. Kenya

This country owes China an estimated 9 trillion Kenya shillings. Most of these loans were accessed during president Uhuru's regime amid reports a huge chunk of it was lost to corruption. Further studies suggest the country, considered an economic grant in East Africa has recent times struggled to pay off those debts.

4. Republic of Congo

The Republic of Congo is the central African nation with rainforest reserves that are habitats of gorillas. Its capital city, Brazzavile lies across the Congo river from Kinshasa. This country owes China an estimated $ 7.3 billion.

5. Sudan.

It owes China an estimated $ 6.4 billion.

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Content created and supplied by: SGKenya (via Opera News )

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