Ghana and other Sub-Saharan African countries might face significant refinancing pressures as previously issued Eurobonds near maturity.

According to the World Bank, this poses significant challenges to debt sustainability.

In its October 2025 Africa Pulse Report, it said Ghana faces a bond redemption of US$500 million (0.7% of Gross Domestic Product) in 2025, spiking to 1.2% of GDP in 2026.

South Africa has the largest bond redemptions between 2025 and 2027, measuring 3.0% of GDP over the period.

Senegal also faces bond redemption totalling US$1.1 billion between 2025 and 2028, with approximately one-third maturing in 2026.

The report also said funding costs remain elevated, and policy uncertainty in the USA weighs heavily on the benchmark rates for many countries.

Again, elevated global risks and tighter financial conditions have raised borrowing costs and reinforced market fragmentation.