South Africa President Reflects on Russia Summit and Defends Chinese Lending Practices

In his regular email newsletter, South African President Cyril Ramaphosa reflected on last week’s inaugural Russia-Africa Summit and the changing geopolitical dynamics in Africa.

Key Highlights from President Ramaphosa’s Newsletter:

  • “What we are witnessing is a dramatic rebalancing of the relationship between the world’s advanced economies and the African continent.”
  • “We have consistently affirmed that Africa no longer wants to be passive recipients of foreign aid. African countries are developing and their economies are increasingly in need of foreign direct investment.”
  • “It would be wrong, as some have done, to label initiatives like the Russia-Africa Summit as an attempt by world powers to expand their geopolitical influence.”
  • “Some have even argued that a number of countries in Africa are being led into a debt trap as they take up loans to fund a number of projects in their countries. One need only look at initiatives such as the Forum on China Africa Cooperation to see that the focus is now on partnership for mutual benefit, on development, trade and investment cooperation and integration.”

Read President Ramaphosa’s full email newsletter here.

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by Eric Olander

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