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 ...
Day: May 11, 2023
Related Posts
Chinese Companies Far Outstrip U.S. Competitors in World Bank Contracts: Study
Chinese companies won about one-third of World Bank contracts over the last ten years, more than ten times the dollar amount awarded to U.S. companies. This is one of the findings of a new Government Accountability Office (GAO) study requested by a group ...
Sudan Crisis is Adding to China’s Debt Woes in Africa
As the civil war in Sudan threatens to turn into a regional conflict, it could take a significant chunk of Chinese financing with it. At least $5 billion worth of Chinese loans to Sudan are now in danger as hundreds of thousands ...
South Africa Urges Caution on BRICS Currency as Global Yuan Use Creeps Up
The BRICS group (Brazil, Russia, India, China, and South Africa) will discuss the feasibility of a joint currency at an upcoming summit in Johannesburg in August. Naledi Pandor, South Africa’s Minister of Foreign Affairs, acknowledged that scheduling the discussion was prompted by calls from member states to move away ...
Pakistani Protestors Burn Historical Chinese Fighter Jet Monument
A Pakistani crowd protesting the arrest of former Prime Minister Imran Khan on corruption charges set fire to a monument celebrating China-Pakistan military cooperation. The monument is a reproduction of the Shenyang F-6 aircraft, a Chinese-made replica of the Soviet MiG-21, ...
Zimbabwe Pushing Chinese Steel Giant’s Plans to Exclusively Import Electricity From Mozambique
Chinese giant Tsingshang’s Zimbabwe subsidiary, Dinson Iron and Steel Company (Disco), will start importing electricity from Mozambique’s Mphanda Nkuwa hydroelectric power project once complete. This follows a plan, supported by the Zimbabwean government, to have Disco exclusively import power for the ...
Analysis from Cobus van Staden
TRANSLATION: In Africa, the Chinese Are Scapegoats
The following is a translation of a post by popular Africa-based WeChat content creator Nie Shaorui 聂少锐. The original post can be read in Chinese on his WeChat page at 小聂说事儿. This article has been edited lightly for clarity. When ...