Day: March 9, 2021
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China Stands Apart From Kenya’s Other Bilateral Creditors in Requiring Full Debt Repayment
While Japan, France, and Kenya's other major bilateral creditors are all giving Nairobi some breathing room during the ongoing pandemic in the form of reduced debt servicing payments, that is not the case with China. Last quarter, the Treasury transferred $266 million to Chinese creditors, mostly to ...
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As the Nairobi Expressway Nears Completion, New Concerns That It Will be Just a “Road for the Rich”
The Kenya National Highways Authority (KeHNA) is trying to reassure the capital's beleaguered motorists that the nightmare traffic congestion caused by construction of the 27-kilometer Nairobi Expressway will soon be over. KeHNA officials said this week that the work is now 70% complete and China ...
No One’s Really Sure What to Make of China’s FOCAC Financial Pledge
One of the key takeaways from the recent Forum on China-Africa Cooperation (FOCAC) conference that took place in Dakar last month is that, unlike previous FOCACs, there's very little consensus over whether the event signaled that China's backing away from Africa or deepening its commitment to the ...
UN Warns Supply Chain Disruptions Will Hit Consumers Hard Next Year, Especially in Developing Countries
With shipping containers in critically short supply, the cost of sending goods from China to South Africa has surged from $1,000 a container to $8,000. It's a similar story in Southeast Asia, where container prices have tripled to $3,000 each.
First Trucks Roll Off the Assembly Line at a New Chinese-Backed Assembly Facility in Uganda
Chinese and Ugandan officials were on hand Wednesday to watch the first truck manufactured by the Uganda Automotive Group (UAG) roll off the assembly at the Namanve Industrial Park in central Uganda. The new factory is a partnership between UAG and China's ...
Wang Yi, China's Foreign Minister and S. Jaishankar, Minister of External Affairs of India
In the space of 24 hours, between Sunday and Monday, the foreign ministers from both China and India laid out their respective governments’ positions on the escalating war in the Middle East. In Beijing, China’s top diplomat, Wang Yi, was unsparing in his criticism of ...
Kenya to Take Control of Some SGR Responsibilities Ahead of Schedule in an Effort to Reduce Debt Burden
Kenya Railways (KR) and Afristar, a subsidiary of the state-owned China Road and Bridge Corporation, have agreed to transfer some of the responsibilities of operating the embattled Standard Gauge Railway years ahead of schedule as part of an effort to reduce the financial burden on ...
How Much Does Kenya Owe China to Build and Operate the Various SGR Lines?
It's not clear at this time if the decision to expedite the handover of some SGR responsibilities from Afristar to Kenya Railways is part of the ongoing debt restructuring talks that are purportedly underway between China and Kenya. Until now, there's ...
CARI: Chinese Lenders Have Provided $7.6 Billion in Debt Relief Since Last Year, Mostly to Africa
Angola is the primary beneficiary of Chinese debt restructuring activities over the past year, accounting for $6.2 billion out of $7.6 billion of total relief provided by Beijing to developing countries in 2020-2021, according to official data compiled by the China-Africa Research Initiative at ...
China Takes a Lot More Risks in Loans to African Countries Than Other International Creditors
New research finds that China has a much higher risk tolerance in its overseas lending practices, particularly to African countries, compared to other major creditors from the U.S., Europe, and Japan. "There is a negative relationship between credit risk and Chinese development finance—a disproportionate share of Chinese ...
Zambia Says It’s Investigating the Chinese “Trolley Man” After Racist Video Goes Viral
Zambian Labor Secretary Chanda Kaziya said an investigation is underway of the Chinese national who was recorded on video being pulled on a trolley by a local employee. He was immediately forced to get off the cart after a group of young men intervened and ordered him down, ...
The View of China-Africa Relations from Washington
We’re thrilled to feature our conversation with Tibor Nagy, the former Assistant Secretary of State for Africa for the Trump administration on the latest episode of the China in Africa Podcast. It was a real honor to speak with someone who had been so instrumental ...
Tibor Nagy Reflects on U.S.-China Competition in Africa
The Chinese "are kicking our tails everywhere" warned Tibor Nagy in a recent column published in the Lubbock Avalanche-Journal newspaper in Texas. The former top U.S. diplomat for Africa called on the new Biden administration to do more to confront ...