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China's Africa Lending Plummets to $2.1 Billion in 2024

1/26/2026

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Summary

Story summary

According to a Boston University report, Chinese lending to Africa fell to $2.1 billion in 2024.
The 2024 level is about half of the previous year and reflects a decade-long decline from 2016's $28.8 billion.
Since 2020, lending has stayed below $5 billion annually as Beijing shifts to smaller, strategic investments.
China is using the yuan to minimize dollar risks amid lender aversion and Africa's ongoing economic challenges.

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Story summary

According to a Boston University report, Chinese lending to Africa fell to $2.1 billion in 2024.
The 2024 level is about half of the previous year and reflects a decade-long decline from 2016's $28.8 billion.
Since 2020, lending has stayed below $5 billion annually as Beijing shifts to smaller, strategic investments.
China is using the yuan to minimize dollar risks amid lender aversion and Africa's ongoing economic challenges.