China not among Africa’s top creditors

President Xi Jinping of China during the FOCAC summit in August 2018 where Kenya and Uganda were denied more loans. PHOTO | AFP

Africa's external debt payments doubled between 2015 and 2017, the highest level since 2001, a new report shows.

According to research by financial pressure group Jubilee Debt Campaign, repayments grew to 11.9 per cent in 2017 from 5.9 per cent of their revenue in 2015, fuelled by an increase in loans from multiple lenders, a fall in commodity prices, and a rising dollar value.