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Japan-Kenya Loan Deal Shifts Chinese Influence

Japan will reportedly provide about $107 million in bilateral loans to Kenya for port, water, and electricity infrastructure, to be implemented from next week. The deal signals a stronger role for Japan as an external partner to the continent amid G7 anxieties about China’s influence.

Sri Lanka Leases White Elephant Airport Built With Chinese Loans

Sri Lanka said Friday it had leased a white elephant international airport built with Chinese loans to a foreign joint venture as the island nation's bankrupt government seeks to offload loss-making assets. The small airport near a wildlife sanctuary on the ...

African Development Bank Head Calls for End to Resource-Backed Loans

Akinwumi Adesina, president of the African Development Bank, urged leaders on the continent to end the practice of exchanging raw materials for development, a practice known as resources-for-loans that was pioneered on a truly massive scale by China.

Lots of Smiles, Lots of Handshakes but Few Tangible Commitments During Sierra Leone President’s China Tour

Sierra Leone's President, Julius Maada Bio, kicked off a five-day state visit to China with a flurry of meetings with Chinese leaders, including President Xi Jinping. After laying a customary wreath at the Monument to the People's Heroes in Tiananmen Square, 

Ghana Installs 1,010 Rural Telephony Sites as Part of China-Backed Project

The Ghanaian government is at the halfway point to build out 2,016 telephony sites that will deliver new voice and data services to millions of rural residents. Communications Minister Ursula Owusu-Ekuful said 618 of the new towers are fully operational, with the remaining ...

Analysis from Cobus van Staden

Zimbabwe Agreement Could Signal China’s Return to African Rail

TransTech, a subsidiary of China Railway Group, reportedly signed a Memorandum of Understanding with the state-owned National Railways of Zimbabwe (NRZ) that could lead to a recapitalization of the country’s railway network.
Bloomberg reports that the agreement is currently limited to studying the project and producing a feasibility report by the end of June. Finance Minister Mthuli Ncube said: “It is our expectation that in the upcoming Forum for China and Africa taking place ...

IMF “Optimistic” About Ghana Debt Deal Amid Predictions that Chinese Lending Could Bounce Back

The International Monetary Fund said it is hopeful that Ghana will reach a debt agreement with bilateral creditors soon, which would unlock another $600 million IMF payment to the country. The IMF’s Resident Representative for Ghana, Leandro Medina told Reuters: "We are ...

Report: African Governments Must Do More to Work Together and Enact Radical Transparency to Better Manage Chinese Debt

China is not the largest creditor to African governments but it is certainly one of the most important, particularly because Chinese loans are far more opaque than those from other lenders. Now, in the midst of a burgeoning debt crisis in ...

U.S. Commits Half a Billion Dollars to Sri Lankan Port To Take On China

The United States will lend $553 million for a new deep-water shipping container facility in Sri Lanka’s Port of Colombo. The project will be the largest undertaken by the U.S. foreign development agency, the Development Finance Corporation (DFC), as it challenges China’s ...

New Report Tracks Major Developments in Chinese Lending

China’s Belt and Road Initiative is evolving rapidly to take on debt, reputational, and ESG challenges that affected its first decade. This is one of the findings of a landmark report from AidData, a research institute at the College of William and ...

Kenya’s President Didn’t Go to China to Get New Loans, Says Finance Minister

Senior Kenyan officials are trying to set the record straight about President William Ruto's trip to China last week and whether he went there with a billion-dollar request for new loans. Before he left, Deputy President Rigathi Gachagua told a radio interviewer ...
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