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WEEK IN REVIEW: Museveni Swats Aside Allegation Entebbe Airport Will be Forfeited to China

Ugandan President Yoweri Museveni issued his first public comments about the media reports that incorrectly alleged the Entebbe International Airport is at risk of being forfeited to China.  "I don't remember mortgaging the airport for anything," President Museveni told Reuters over the weekend. "There is no problem, they ...

Why the Era of Low-Cost Imports From China May be Coming to an End in Africa (At Least For Now)

The ongoing supply chain disruptions are having a profound impact on the types of goods that consumers in Africa and other Global South countries can access. It used to cost just $1,000 per container to ship low-cost socks, shoes, electronics, and other ...

With an IMF Deal in the Bag, the Big Question is How Will Hichilema Handle Zambia’s Chinese Debts?

Zambian President Haikainde Hichilema (photo) got the news he was hoping for on Friday when the International Monetary Fund announced that it had granted preliminary approval for a $1.4 billion, three-year credit facility to the economically beleaguered country. President Hichilema's government ...

We Now Know More About Zambia’s Debt… And It’s Not Good

The Zambian government owes creditors close to $27 billion, according to new data released by the Finance Ministry on Wednesday. The majority of those debts, $16.86 billion, are owed to foreign creditors and also include half a billion dollars of penalties for late payments. ...

Chinese Vaccine Shipments to Africa Slow But More Deliveries Going to Sub-Saharan Countries

China shipped just a million doses of COVID vaccines last week to countries in Africa, according to the latest data from Bridge Consulting's Vaccine Tracker Report, a sizable drop from the usual 2-3 million jabs that go to countries across the continent. It's not ...

Week in Review: Xi Opens COP15, Zambia Takes Action Against a Chinese Mine & SA Busts Chinese Abalone Ring

The UN's biodiversity convention, known as COP15, opened on Tuesday in the southern Chinese city of Kunming. President Xi Jinping delivered the keynote address and announced that China will commit $230 million to help developing countries protect endangered plant and animal wildlife. Even as China is currently bingeing ...

African Borrowers Need to Wake Up to the Reality of Chinese Loans

Chinese lending to developing countries has come under sharp focus since the release of several reports that have reshaped the debate. Unsurprisingly, many news reports, like the BBC’s “China: Big spender or loan shark” are ringing the alarm bells. However, I’d argue that the reports should rather prompt new ...

Why Zambia is An Outlier Among African Countries That Owe Money to China

Zambia owes at least 18 Chinese creditors $6.6 billion, nearly twice as much as previously stated, according to a new report published by the China-Africa Research Initiative (CARI) at Johns Hopkins University. And that figure may be even higher as it ...

Key Takeaways From AidData’s New Report on How China’s Finances the BRI

AidData, the development research lab at William & Mary College in Virginia, published a landmark report this week that provides the most comprehensive overview to date of Chinese financing of projects along the Belt and Road. Researchers pored through 13,247 projects ...

Week in Review: Debt, Arrests and Market Expansion

Zambian President Hakainde Hichilema will head to Washington soon to meet with officials from the IMF and World Bank in an effort to secure a new financing package. The Zambian leader spoke at the UN this week and met with U.S. Vice President Kamala Harris in New York.While President ...

Hichilema Calls For Mining Policy Review But Stays Mum on the Chinese

Zambian President Hakainde Hichilema (photo) called for a review of the country's mining policies on Friday in his first address to parliament since he assumed office last month. But for now, he's not proposing a Congolese-style review of foreign ...

China’s Role in the Burgeoning Debt Challenge in Africa

The debt situation in Africa is changing very quickly as some countries race to negotiate urgent bailouts with the IMF while others are struggling to service their debts amid the ongoing pandemic. Pretty much every country across the continent is struggling ...
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