NEWS

Today in Africa — Nov. 10, 2026: Africa’s Three Biggest Economies Owe China $17.2 Billion; African Development Bank Moves to Tap Diaspora Money for Africa

OkayAfrica has scoured the Internet for today’s major news stories, so you don't have to. On Nov. 10, coverage includes: how Nigeria, Egypt, and South Africa each fit into the debt picture; how the AfDB wants Africans abroad to invest in projects like infrastructure and share their skills.

South African President Cyril Ramaphosa (R) addresses the 11th Session of the Bi-National Commission between South Africa and Nigeria, with Nigerian President Bola Tinubu (L) at the South African Parliament in Cape Town on December 3, 2024.
Presidents Bola Tinubu of Nigeria and Cyril Ramaphosa of South Africa lead two of the three African economies that together owe China $17.2 billion, according to World Bank figures and Egypt’s central bank.

Every day, OkayAfrica shares a roundup of news we’re following but haven’t published as full articles. These short updates cover what’s happening across the continent — in culture, politics, and beyond. For more stories like these, check out our News page for updates from across the regions.

Africa's Three Biggest Economies Owe China $17.2 Billion, Even as Poverty and Unemployment Persist

South Africa, Egypt, and Nigeria together owe China $17.2 billion, according to World Bank figures and Egypt's central bank. Nigeria owed $5.67 billion at the end of 2025, South Africa owed $1.93 billion, and Egypt owed $9.6 billion as of June 2025. The balances cover different reporting periods and debt types, so the total is a rough combined figure. Chinese loans have helped pay for major infrastructure, and all three countries still face pressure to repay debt, fund projects, and improve living standards. The World Bank says developing countries are borrowing more, paying more, and in many cases leaving less for long-term development.

Three Economies, Three Different Pictures

  • Nigeria: Its debt to China rose from $3.63 billion in 2021 to $5.32 billion in 2024 and $5.67 billion in 2025. China holds nearly 85% of its $6.68 billion in bilateral external debt, much of it for railways and transport. More than 60% of Nigerians lived below the national poverty line in 2025, and 3.5 million people enter the labor force each year.

  • Egypt: Its $9.6 billion owed to China is only 5.9% of its $161.2 billion in external debt. It also owes Saudi Arabia $13.5 billion, the UAE $11.7 billion, and Kuwait $6 billion. Debt-service payments hit $38.7 billion in 2024/2025, though growth reached 5.1% and unemployment fell to 5.8% in the second quarter of 2026. Inflation still strains household budgets.

  • South Africa: It owes China the least of the three, about 47% of its $4.13 billion in bilateral external debt, and relies more on private creditors and financial markets. Its total external debt was $206.34 billion in 2025. Unemployment hit 33.6% in the second quarter of 2026, leaving 8.5 million people without jobs.

  • Global picture: Developing countries' external debt reached a record $9.4 trillion in 2025. Low- and middle-income economies paid $1.4 trillion in principal and interest, and between 2022 and 2025 they paid $436 billion more in debt service than they received in new financing.

African Development Bank Launches "Diaspora Initiative" to Bring African Money and Skills Abroad Home

The African Development Bank Group launched a new "Diaspora Initiative" yesterday, Monday, November 9, at a high-level meeting in Paris. The idea is to bring Africans living abroad in as partners in the continent’s growth, using their money, skills, and connections. It goes beyond sending money home to family, giving the diaspora clear ways to invest in projects like infrastructure and share their expertise. The meeting was held under the theme "Mobilizing Diaspora Capital for Africa's Prosperity and Transformation." Bank Group President Dr. Sidi Ould Tah led the meeting, joined by policymakers, investors, entrepreneurs, and diaspora leaders.  The bank described the Paris meeting as a new stage, with the focus shifting from commitment to action.

How It Fits Into the Bank's Plans

  • The initiative is part of the bank's "Four Cardinal Points" strategic vision. It also lines up with the goals of the New African Financial Architecture for Development (NAFAD), which the meeting described as a catalyst for the continent's financing needs.

  • It builds on the Brazzaville Appeal, which was adopted at the bank's 2026 Annual Meetings. The Paris meeting is meant to turn that appeal into concrete steps.

  • The initiative aims to strengthen the diaspora's role in four areas: development financing, productive investment, entrepreneurship, and the exchange of knowledge and skills.

  • Talks in Paris focused on investment opportunities, partnerships between institutions and financial groups, and ways to turn diaspora money into real projects with a big economic and social impact.

  • The bank says the goal is to support investment and economic transformation across the continent, with African communities abroad as strategic partners rather than only senders of money home.

DR Congo Sentences at Least 66 Soldiers to Death for Cowardice, Mutiny, and Disobeying Orders

A military court in Walikale, in North Kivu province, has sentenced at least 66 Congolese soldiers to death for cowardice, mutiny, and refusing to obey orders, local media report. The court tried 71 soldiers, acquitted four, and sentenced one to 10 years in prison. The soldiers were reportedly arrested on October 20 and accused of abandoning their positions and fleeing during clashes with fighters from the Front for the Refoundation of the Nation (FRN), a rebel coalition that includes the M23 group. The army said the trial was meant to improve discipline as troops fight armed groups in eastern DR Congo.

Discipline Problems and the Death Penalty

  • Last month, another 27 soldiers were sentenced to death on similar cowardice charges after reportedly pulling back from the frontline during clashes with rebels.

  • Since the start of 2025, at least 507 soldiers have been convicted, including 381 death sentences, according to figures compiled by French broadcaster RFI.

  • DR Congo lifted a 20-year moratorium on the death penalty in March 2024, citing the need to remove "traitors" within the army. The government said capital punishment would also apply to people involved in armed groups, insurrection, treason, and war crimes. Rights groups widely criticized the decision, and no formal executions have been carried out since.

  • The army has long faced criticism over poor discipline and disorganization. Soldiers have complained of poor pay and inadequate equipment.

  • The government accuses Rwanda of backing the M23, which Kigali and the rebels deny. Former President Joseph Kabila was sentenced to death in absentia in October 2025 on charges including war crimes and treason. He denied the accusations and has since been named the FRN's leader.

In Brief: More Stories Today

Cameroon Sets February 7 Date for Twice-Delayed Legislative and Local Elections

Cameroon's President Paul Biya, 93, the world's oldest head of state, announced in a decree read on public radio yesterday, Monday, November 9, that legislative and local elections will be held February 7 next year. The government has already postponed the polls twice, extending lawmakers' terms to December 20 and municipal councilors' terms to February 28, 2027. The announcement comes as authorities crack down on the opposition, about a year after an election that gave Biya another term. Last month, authorities suspended the party of opposition candidate Issa Tchiroma Bakary, who went into exile in the Gambia after declaring himself the winner. Lawyers cited by Human Rights Watch said security forces detained up to 2,000 people during protests after the vote, and some remain in custody.

Up to 50,000 Ethiopians Flee Into Kenya as Moyale Clashes Escalate

The UN refugee agency (UNHCR) says up to an estimated 50,000 Ethiopians have crossed into Kenya since October 22, up from 36,000 reported earlier, citing local authorities. Some are staying with relatives and host communities, and others are in schools and churches. UNHCR, UNICEF, and WFP are seeking $8.9 million to support up to 50,000 people, and food, safe water, sanitation, and health care are the most urgent needs. Conflict monitoring organization ACLED traced the fighting to an October 18 confrontation over opening a Somali regional administration office in a disputed part of Ethiopian Moyale, rooted in a boundary dispute between Borana Oromo and Garre Somali communities.

Nearly 64,000 Nigerians Have Fled to Niger This Year, UN Says

Nearly 64,000 people have fled northern Nigeria for Niger this year to escape attacks by Islamist militants and armed gangs, UNHCR says. Most have settled in the border regions of Diffa and Tahoua, and more than 23,000 people, over two-thirds of them children, have reached Diffa alone. UNHCR says new arrivals struggle with limited food, water, and shelter, and only about 5% have been formally registered. UNHCR is seeking $11.4 million to expand its response in Niger, Nigeria, and Benin.

Dangote Cement Postpones London Listing

Dangote Cement postponed its planned secondary listing in London today, Tuesday, November 10, citing deteriorating market conditions. A person familiar with the situation said the cause was volatility after the U.S. midterm elections and that the company may revisit the plan when markets are more stable. The company said its shares remain listed in Nigeria and that the decision does not affect its operations or business plans. It has floated a London listing several times over 15 years, and its market value is about $18.4 billion.