Browsing: smart cities in Africa

China has a well-established presence on the African continent. On the positive side, a lot of infrastructure development taking place is a direct result of Chinese funding. In addition, several big Chinese companies have taken root in Africa becoming significant contributors to employment and GDP. Examples include Citic Constructions, Sunshine group, and FAW. Mckinsey and Company research group estimates that in 2012 there were over 10000 Chinese-owned companies operating in Africa, the number has since increased. 

However, there has long been suspicion around Chinese funding, especially through debt as most deals are shrouded in mystery and hidden behind closed doors. One example is Zambia’s current debt conundrum, in which reports indicate the country owes China large sums of money but circumstances around the debt are unclear in terms of the duration and the cost. 

Additionally, indications are that some of the debt facilities come with collateralized arrangements in which Africa …