Day: March 7, 2023

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Ajay Banga in Africa to Rally Support for World Bank Leadership Amid Stand-off With China

Ajay Banga, U.S. President Joe Biden’s nominee to head the World Bank, is on a ‘listening tour’ of Africa to drum up support for his nomination. Banga kicked off his visit to the continent in Ivory Coast and Kenya. As a veteran ...

Senior U.S. Diplomat Criticizes China’s Role in Sri Lankan Debt Restructuring

Yet another U.S. government official has added to the war of words between Washington and Beijing on debt restructuring. Ramin Toloui, Assistant Secretary for the Bureau of Economic and Business Affairs at the US Department of State, was asked about China’s ...

Controversial China Square Shopping Mall Re-Opens in Nairobi, Prompting Heated Debate About Chinese Imports

Nearly two weeks after being shuttered due to protests from competing traders, China Square, a Nairobi shop selling inexpensive Chinese imports, is back in business. This follows talks between the Kenyan authorities and the local Chinese chamber of commerce. It seems that ...

Huge Lithium Deposit in Found in Iran

The Iranian authorities say they found the world’s second-largest deposit of lithium in the mountainous province of Hamedan. At an estimated 8.5 million tons, the Hamedan lithium haul would be second only to Chile’s estimated 9.2 million ton deposit. It could ...

History’s Solution to the China-U.S. Debt Standoff

By Kevin P. Gallagher History is repeating itself, but Western leaders are experiencing a selective memory loss that is preventing learning the lessons of that history.  If developing countries are to mobilize the necessary resources ...

Analysis from Cobus van Staden

Plugging into African Agency

After several years of declining funding, the African end of the Belt and Road Initiative seems to be roaring back. The newest Griffith University/Green Development Finance Center data on the Belt and Road Initiative shows that engagement with Africa jumped by 395%, while a few big projects boosted engagement in Nigeria alone more than twelvefold.

These shifts indicate a window of opportunity for African electrification. 60% of Africans still lack ...