- Tanzania at COP28
- AfDB partners with Prince’s Trust International to address youth unemployment in Africa
- AstraZeneca pioneers AI solutions for reforestation in Africa
- TotalEnergies divests 36% stake in South Africa’s National Petroleum Refiners
- Lipa Later’s $1.6M boost revives Sky.Garden’s East African market presence
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Browsing: china africa debt
- US President Biden supports an African permanent seat on the UN Security Council.
- Vice President Harris’ visit to pave way for Biden Africa tour later this year
- US increased investment in Africa,still lags behind China
The United States Vice President Kamala Harris is expected to land in Africa this week where she will tour at least three countries. Her itinerary includes Ghana on March 26, then Tanzania on March 29, and finally Zambia on March 31.
This trip paves the way for the even more anticipated visit by President Joe Biden, as promised at the US-Africa Summit held in Washington in December 2022.
A little over a decade ago, former US president Barack Obama showed America’s commitment to Africa’s growth through wide-ranging programmes and initiatives that aimed at cementing the US-Africa relations. But Donald Trump’s lukewarm relationship with Africa and the continuous rise of China’s influence has made the US …
Ahead of the US-Africa Summit in December, the Russia-Africa Summit next year and as new geopolitical alliances form, Africa is under great pressure to take sides.
China is increasingly becoming a strong economic powerhouse while Russia is making its own stand. The West finds itself reliving history, scrambling for portions of Africa.
This summer was most fulfilling for me, not because the Earth’s revolution had finally brought the sun to shine on my part of the World, I live in Tanzania, East Africa, its spring and summer all year around.
- Africa is under increasing pressure to take sides in new global alliances
- Africa wants an economic proposal in the upcoming US-Africa Summit
- 2022 witnessed the highest number of diplomats & presidents visiting Africa
No, it was not the weather, the reason my summer was most memorable is that my daughter came to visit from the US. We had excellent family …
After Zambia’s sovereign default, the G20 expressed concern that a “debt tsunami” could engulf the continent’s most heavily indebted nations. In response, the G20 and the Paris Club established a “common framework” with the intention of assisting more than 70 countries in dealing with the aftermath of the pandemic by providing debt relief and restructuring.
Given the substantial share of Zambia’s debt that is owned by Chinese lenders, the Paris Club needed the participation of China, which is not a member of the Paris Club. At the beginning of May, it was announced that China would co-chair the official creditor committee with France.
At the Paris negotiations, it will be determined whether Chinese and international lenders can work side by side to establish a clear debt overhaul plan. This might also pave the way for debt-restructuring talks between Chinese institutions and other countries that are in debt.…
The level of cooperation that once existed between Africa and Turkey has evolved into the form of strategic alliances. The Republic of Turkey has developed partnerships with African countries in infrastructure, health, trade and investment, rural development, energy, institutional cooperation, agriculture, and small and medium enterprises.
These partnerships were developed on the basis of the “Turkey-Africa Joint Implementation Plan 2015-2019” and in accordance with the Istanbul Declaration of the First Africa-Turkey Cooperation Summit that took place on August 19, 2008.
The approach taken by Turkey incorporates aid for those in need and assistance with economic and social development. This strategy is derived from Turkey’s own history of achieving economic and social growth.…
Across the continent to West Africa where we find one of Africa’s largest economies, Nigeria. Here we find another railway deal gone bad, the $500 million Lagos – Ibadan railway.
In a similar manner to Kenya’s SGR debacle with China, which resulted in Kenya sinking heavily into debt that it simply cannot afford to pay and restructure, Nigeria is now finding a similar fate.
According to the country’s Director General for Nigeria’s Debt Management Office (DMO) Patience Oniha, when making a deal with China, ‘…the Chinese determine the cost of projects, give us loans tied to the projects and the projects must be executed by Chinese firms alone.’
It is alleged that not only does China force importation of even the smallest of laborers but also all the equipment and guess where they are imported from? Yes, China.
It is further argued that by so doing, China is using these …