Nigeria has the lowest debt-to-GDP ratio (35%) among major African economies, but the highest inflation rate (31%) and steepest currency depreciation. While the debt level appears manageable by ratio, the debt-service-to-revenue ratio (~64%) tells a more concerning story.
| Country | Total Debt | Debt/GDP | Reserves | Debt/Capita | Population | Inflation | FX 5yr Dep. | Rating |
|---|---|---|---|---|---|---|---|---|
| 🇳🇬Nigeria | $89B | 35.4% | $40.2B | $397 | 225M | 31.4% | 378% | B- (S&P) |
| 🇿🇦South Africa | $260B | 72.2% | $62.5B | $4,194 | 62M | 4.5% | 25% | BB- (S&P) |
| 🇪🇬Egypt | $310B | 92.0% | $46.7B | $2,925 | 106M | 27.5% | 210% | B- (Fitch) |
| 🇰🇪Kenya | $82B | 72.0% | $8.9B | $1,464 | 56M | 6.3% | 32% | B (Fitch) |
| 🇬🇭Ghana | $55B | 83.0% | $5.8B | $1,618 | 34M | 23.2% | 180% | SD (S&P) |