Day: May 13, 2021
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Zambia’s Bondholders Want More Info on IMF Deal, Renew Calls For All Creditors to be Treated the Same
Some of Zambia's bondholders are once again expressing impatience with the government's handling of its debt relief talks and they've gone public with their longstanding demands for greater transparency in the process and equal treatment for all creditors. "Inter-creditor equity should ...
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Incompetence, Inexperience to Blame For China’s Bad Loans in Global South, More Than Any “Plot to Enslave Poor Countries,” Argues Professor
The prominent expert on Chinese finance, Michael Pettis, is the latest scholar to challenge the popular narrative that China engages in predatory lending abroad. Instead, the Peking University professor attributes the surge of Chinese loans to less developed countries on "inexperience" and "bad lending practices."
Kenya Caught in a Potentially Dangerous Loan Repayment Cycle Due to Its SGR Debts to China
There's growing concern that the depreciating value of the Kenyan currency is tied to the country's mounting debt servicing costs to Chinese creditors. Back in July, the Kenyan Treasury began repaying the loans used to build the Standard Gauge Railway after the China Exim Bank refused the ...
China’s Ambassador to Uganda Tried (Again) to Settle the Entebbe Airport Seizure Controversy
The Chinese and Ugandan governments collaborated in what appears to be an effort to jointly refute last month's Daily Monitor story that falsely claimed the Entebbe Airport would be seized by China as part of a debt default. Ambassador Zhang Lizhong led ...
Two Years Late, Lagosians Want to Know Where’s Their New Chinese-Built Airport Terminal
Work on the new international terminal at Murtala Muhammed International Airport in Lagos is almost done. In fact, China Civil Engineering Construction Corporation (CCECC) says it's 95% finished. Yet, the new facility is still not open and that has people in Nigeria's largest city asking what is going ...
Employees work at an assembly line producing car smartphone holders at a plastic accessories factory, as rising oil prices drive up production costs for plastic manufacturers, in Dongguan, Guangdong province, China, April 2, 2026. REUTERS/Go Nakamura
By Minwoo Park, Kaori Kaneko and John Geddie An 'eco-friendly' range of paper tubes and pouches touted by Yonwoo, a South Korean maker of packaging for cosmetics, has reaped unexpected benefits from the Iran war, which has disrupted supplies of the plastic needed to turn ...
Q&A: Is China Really Delivering for Senegal In the Fight Against COVID-19?
As the co-chair for the upcoming 2021 Forum on China-Africa Cooperation (FOCAC), Senegal is in a unique position to negotiate a better relationship with China as well as support other African countries to do so as well. At Development Reimagined, an ...
Ethio Telecom Launches New Huawei-Powered Mobile Money Service
Ethiopian Prime Minister Abiy Ahmed oversaw the launch this week of Ethio Telecom's new mobile money service "Tele- Birr" which will be powered by technology from Chinese telecom equipment giant Huawei. Ethiopian officials have high expectations for Tele-Birr's future ...
Huawei Mobile Money is Quietly Becoming an Important Fintech Engine For Emerging Market Payment Platforms
Most of the discussion about Huawei in places like Africa or the Americas centers on the company's 5G technology that officials in the U.S., Europe, and some Asian countries believe presents a security threat. But the Shenzhen-based company isn't generating $137 billion in annual ...
Oppo is the Latest Chinese Phone Maker to Set Its Sights on the South African Market
China's largest mobile phone maker Oppo is targeting South Africa's youth market with a new mid-range device, the A74 5G. Oppo's announcement comes less than a week after another Chinese company, Transsion's Itel division, announced that it too is targeting a similar ...
Glencore’s CEO Warns Western Automakers About China’s Control of Congolese Cobalt
The CEO of the world's largest cobalt mining company issued a stern warning to U.S. and European automakers that they had better get their acts together to secure supplies of this precious metal or else risk becoming dependent on China for batteries to power their electric vehicles. ...
Chinese Automakers Are Making New Inroads Across Africa
Geely, China's largest independent automaker, launched its new Coolray SUV in Nigeria in what's become a big push by Chinese auto companies to expand their presence in Africa. The SUV category is especially popular, as evidenced by the strong performance in South ...
Veteran China Journalist Warns That China is Looking to Eventually Replace Australian Iron Ore With Suppliers in Brazil and Africa
There's been widespread speculation over the past year that China wants to develop new iron ore supply chains in Africa so it can stop buying from Australia in response to steadily worsening ties between the two countries. While there've been indications ...
Macky Sall Thanks His Friend Xi Jinping For Donating 300,000 Vaccines and Syringes
Senegalese President Macky Sall took to Twitter yesterday to express his gratitude to his "friend President Xi Jinping" for the donation of 300,000 COVID-19 vaccines and 300,000 syringes that landed in Dakar this week. The tweet provides the latest ...