Country: Zambia
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Hichilema Acknowledges Zambia’s Debt “Hole” is Bigger Than He Thought
Newly-elected President Hakainde Hichilema's brief honeymoon with the international financial community may have come to an end on Wednesday when he publicly acknowledged what's long been suspected: that Zambia's hidden debts are far more extensive than what's been publicly disclosed. Zambia’s ...
Zambia’s New Finance Minister Says a Deal With the IMF is Key, Avoids Any Mention of Chinese Debt
Zambia's newly-named finance minister Situmbeko Musokotwane said he's going to prioritize closing a restructuring deal with the International Monetary Fund because it would give creditors confidence and the government cheaper and longer-term financing. Musokotwane was appointed on Friday (the second ...
Hichilema May Find Out Getting Elected Was the Easy Part, Fixing Zambia’s Debt-Ridden Economy Will Be a Lot Harder
A peaceful transfer of power took place in Lusaka on Tuesday when opposition leader Hakainde Hichilema (photo) became Zambia's seventh president in the post-colonial era. President Hichilema made clear right from the start that the economy, specifically reducing the country's heavy debt load, will be ...
Gyude Moore Reflects on Hichilema’s Victory in Zambia and Why China is Calling in Its Loans in Kenya
A lot of major developments this week in the China-Africa space following Zambia's landslide election victory for opposition leader Hakainde Hichilema and new debt repayment challenges in Kenya for the embattled Standard Gauge Railway.
Markets Optimistic Hichilema Will Resolve Zambia’s Debt Crisis
Global financial markets are telegraphing their relief that Zambian opposition leader Hakainde Hichilema decisively won last week's presidential vote and that he'll now have the necessary mandate to bring an end to the country's worsening debt crisis. Both Zambia's kwacha and ...
Zambia’s New President Has a Unique Opportunity To Reset Ties With China
Hakainde Hichilema's decisive election victory to become the eighth president of Zambia in the post-colonial era is a gust of good news that Africa and the world at large badly needed. His win is an endorsement of democracy in a region where we've seen so many other ...
Zambians Go to the Polls in a Tight Presidential Election with No China-Bashing, For Once
Ballots are now being counted in Zambia's general election that took place on Thursday. Presidential incumbent Edgar Lungu faces opposition leader Hakainde Hichilema in a contest that has been too close to call for weeks. While Zambia's beleaguered economy and surging debt ...
President Edgar Lungu Commissions New Chinese-Built Airport As Part of a Last-Minute Campaign Push
Zambian President Edgar Lungu, currently in the final leg of a bitterly contested election campaign, did what politicians love best: cutting a ribbon to inaugurate new infrastructure. The President last week landed at the brand new Chinese-financed and built ...
Africa’s Largest Bank Is Positioning Itself as a Turn-Key China-Africa Trade Agent
Standard Bank's Zambian unit wants farmers to know they're a one-stop-shop to import equipment and other agricultural materials from China. Stanbic Bank Zambia, more than almost any other major financial institution on the continent, is working to position ...
One Week to Go Before the Zambian Elections and President Lungu Leans Hard on Chinese-Built Infrastructure
One week from today Zambian voters will go to the polls to vote for their next president and the ruling Patriotic Front is relying heavily on Chinese-financed infrastructure development to get its man, President Edgar Lungu, re-elected. “Look at the infrastructure ...
Zambia’s Amazing Come From Behind Draw Against China at the Olympics
If you didn't catch last week's Zambia-China women's soccer face-off at the Olympics in Tokyo then you missed what will no doubt go down as one of the greatest matches of the games. Going into the match, China was expected to ...
Nigerian Transportation Minister Tells Local Contractors “They Are Not Qualified” To Build Infrastructure Like the Chinese Do
Nigeria's outspoken transportation minister Rotimi Amaechi delivered a blunt message to local construction companies who've long complained that they're shut out of bids for the large infrastructure projects that often go to Chinese contractors: "We are not using our local contractors because they are not ...