Day: May 15, 2023
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WEEK IN REVIEW: Ethiopia Widely Expected to Default on Portion of Its Debt
Ethiopia is widely expected to default on a portion of its debt as the government warned it will not be able to make a $33 million bond payment due on Monday. Ethiopia is in the midst of Chinese-led debt restructuring talks under the G20's Common Framework initiative.
Related Posts
China’s Crisis Diplomacy Is in Overdrive – but to What Effect?
By Lukas Fiala 方朗克 When China’s Horn of Africa Envoy, Xue Bing, returned to Ethiopia earlier this week, he did so in the context of China’s increasingly proactive diplomacy across Africa and the Middle East. From the conflict in Gaza to the peace ...
WEEK IN REVIEW: Ethiopia Debt Update | China @COP28 | Chinese Energy Projects in Africa
Ethiopia is the latest African country that is now teetering on the verge of default after the government announced this week that it would not be able to make a $33 million bond payment. Eric speaks with Mark Bohlund, a senior ...
The Chinese on the Lion Mountain: Peering Into China’s Evolving Diaspora and Soft Power in Sierra Leone
A casino sits on the northwestern tip of Freetown, Sierra Leone, West Africa. Shining neon lights unquelled by the hourly power outages adorn its exterior, flashing hues of pink, green, and yellow onto the red lanterns hanging outside the main entrance. Women dressed in qipaos deal cards ...
TikTok Finds Its Way Back Into Indonesia’s Booming E-Commerce Market
Chinese-owned TikTok announced on Monday that it is taking over 75% stake in Tokopedia, the Indonesian e-commerce unit of GoTo’s super-app ecosystem. The company said that it will spend a total of $1.5 billion and that the transaction will be completed by the first quarter of ...
The electric bus that the School of Nations in Kenya acquired from BasiGo. The refurbished bus is an indicator of the potential of the second-hand vehicle market for EVs. Photo / BasiGo
This is a free preview of the upcoming Africa EVs Weekly Digest, part of the new CGSP Intelligence service. Different forms of electric vehicle (EV) technology innovations are occurring in different African countries. As newer technology arrives, there is a small shift in ...
What a Small Electric Substation in Kinshasa Tells Us About Why Developing Countries Often Prefer to Work With China on Infrastructure
China's ambassador to the DR Congo, Zhu Jing, posted one of those anodyne tweets on Sunday about yet another Chinese-financed infrastructure project in Africa nearing completion. These kinds of Chinese infrastructure soft power propaganda messages (aka "Infrastructure Porn") have become so common ...
There’s a Lot at Stake for China in Turkey’s Elections
It looks like Turkey's bitterly contested presidential election will require a run-off in two weeks since neither President Tayyip Erdogan nor his opposition rival Kemal Kilicdaroglu could secure an outright majority in the first round of voting that took place on Sunday.
Eritrean President Isaias Afwerki Kicks Off Four-Day Visit to China, Meeting With Xi Set For This Week
Eritrean President Isaias Afwerki met with Chinese Premier Li Qiang on Monday, the first day of a near-week-long state visit to Beijing. This is the President's first visit to China since 2006 and his first since Eritrea joined the Belt and Road ...
China Exim Bank to Finance Controversial East African Oil Pipeline: Media Reports
The China Exim Bank will reportedly come to the rescue of the East African Crude Oil Pipeline after Standard Chartered Bank withdrew from the project that aims to transport oil from western Uganda to the coast of Tanzania. Ugandan Energy Minister Ruth ...
South African Utility Boss’s Trip to China Sparks Outrage Back Home Where Millions Fume Without Power
The acting CEO of troubled South African state-owned utility Eskom, Calib Cassim, provoked widespread outrage late last week when it was revealed that he led a high-level delegation to China that also included Public Enterprises Minister Pravin Gordhan. Civil society ...
Chinese Brands Take a Hit as Smartphone Sales Slump in Mideast and African Countries
First-quarter smartphone shipments to countries in the Mideast and Africa slumped to their lowest level in seven years, with some of China's top device makers all losing share. High inflation and weak local currencies are largely to blame for the downturn, according to analysts at the technology ...
China Passes Japan to Become Largest Auto Exporter
A 58% year-on-year surge in exports in the first quarter of the year propelled China past Japan to become the world's largest auto exporting country. Sales to markets in Europe, Southeast Asia, South America and Africa together accounted for 40% of ...