Experts have warned that the rising domestic debt in African countries may prove to be the impediment to development on the continent.
According to experts, excessive domestic debts can strangulate a nation’s economy and make funds scarce for internal investment.
According to them, African countries must consider improving their economies by providing the right environment for their citizenry.
They charged African leaders to give more focus to the development of small-scale businesses by providing alternatives to power supply which is essential for the survival of small scale businesses.
They warned against governments incurring domestic debts insisting that it is more expedient if countries took foreign loans with long term and low interest rates.
