The data available on the Capital IQ platform reveals a surplus of $29.1 billion in debt for the ten largest listed companies in Africa. According to a publication by the Ecofin Agency, despite Covid-19 and its effects, the latter show a solid capacity to repay their debts

The total financial assets of the top 10 large companies listed on the African stock exchange exceed their repayment commitments. Known net debt has a negative value of $29.1 billion. This means that the companies in question have more cash than commitments to repay.
This performance was driven by the Standard Bank financial group based in South Africa, whose cash position shows a surplus of 19.3 billion dollars on its debt. It is followed by another South African bank (FirstRand) which has cash in excess of its debt of 5.4 billion dollars.
The telecommunications sector also promotes this solid financial position of the ten largest capitalizations in Africa. Safaricom, based in Kenya, has over $355 million in debt. Maroc Telecom, the company in the top ten listed African companies with the largest level of debt, compared to its cash flow, has a positive net debt of $1.9 billion. Behind him is Vodacom, the South African competitor that is $1.7 billion in debt