Debt is an important source of financing for development, but it needs to be sustainable. African debt has been growing significantly over the past decade. The African Development Bank Group estimates that Africa’s total external debt, which stood at $1.12 trillion in 2022, had risen to $1.152 trillion by end-2023. With global interest rates at their highest level for 40 years and as multiple bond debt securities issued by African countries reach maturity, there is no shortage of challenges in 2024. Africa will pay out $163 billion just to service debts in 2024, up sharply from $61 billion in 2010. The growing burden of debt repayments has the potential to threaten achievement of the Sustainable Development Goals on the continent, particularly in health, education and infrastructure.