Day: January 19, 2021

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China, Kenya Close to Reaching Debt Relief Deal

China and Kenya appear to be closing in on a debt restructuring arrangement just days before a major railway loan comes due. The Chinese embassy issued a vague statement on Monday that said both sides are holding "smooth" talks related to Kenya's debt servicing challenges.  ...

Growing Concerns China’s Relief Deal Only Postponed Angolan Debt Crisis

When Angolan finance minister Vera Daves de Sousa announced last week that China reached a debt restructuring deal that would give Luanda "three years of breathing space," the markets largely responded favorably. Things started to look up even ...

All Things Considered, 2020 Wasn’t a Terrible Year For China-Africa Trade

China's Ministry of Commerce (MOFCOM) released some updated figures last week on trade with Africa that tell a much more positive story than many would have assumed, given the sizable economic disruptions brought on by the COVID-19 outbreak. Total two-way trade ...

With the U.S. In Its Sights, China Moves to Restrict Rare Earths Exports. Could Cobalt Be Next?

China's control of strategically important minerals and metals are poised to become new weapons in the increasingly acrimonious trade conflict with the United States. The Ministry of Industry last week submitted a new policy proposal that aims to tighten export controls on rare earths, ...

High Profile Kenyan TV Anchor Leaves KTN For China’s CGTN Africa

KTN news presenter Grace Kuria announced on air over the weekend that she'll be leaving the network. Although she didn't say what she's going to do next, Pulse Kenya reports she'll soon join CGTN Africa at the Chinese channel's regional headquarters in Nairobi.

Analysis from Cobus van Staden

How to Lure Chinese Financing Back to the Global South: Report

Global South countries face increasing financing pressure, endangering their ability to keep developing while also implementing measures to deal with a growing climate crisis. The disruption of global trade is coupled with a larger megatrend: flows of international capital to the developing world have turned negative. This means that countries are now routinely paying more to service loans than they receive in disbursements.

The vast majority of Global South borrowers ...

How Will Biden Shake Up Africa Relations? Let’s Watch

Tomorrow, the whole world’s eyes will be on the inauguration of Joe Biden. Stepping into a moment of unprecedented domestic crisis, he will probably have relatively little bandwidth for Africa. Indications are that the Biden administration plans to steer away from the Trump era’s unilateralism. While ...