Country: Zambia
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China Proposes Billion-Dollar Revamp of the Legendary Tazara Railway
The competition between the United States and China to refurbish some of Africa's decrepit railways intensified this week when the Chinese government presented a billion-dollar proposal to rebuild the Tazara railway linking Zambia's copperbelt to the Tanzanian port of Dar es Salaam. ...
Africa’s Debt Dilemma: The Urgent Need for More Equitable Borrowing
For the first time in years, a few African countries are venturing back into the bond market to raise funds for infrastructure and to pay down their debts. However, borrowing more from private creditors is a risky move given the difficulties ...
China Proposes Billion-Dollar Revamp of the Legendary Tazara Railway
The competition between the United States and China to refurbish some of Africa's decrepit railways intensified this week when the Chinese government presented a billion-dollar proposal to rebuild the Tazara railway linking Zambia's Copperbelt to the Tanzanian port of Dar es Salaam. ...
Zambia Expresses Optimism It Can Allay Chinese Concerns Over Debt Deal
The Zambian Finance Minister Situmbeko Musokotwane said he's hopeful his country's three-year debt restructuring odyssey can finally be resolved sometime before June. Musokotwane was cautious about providing any specific timetable but said on Wednesday that he's nonetheless optimistic he can resolve Chinese concerns ...
U.S. Mining Start-Up Makes Huge Copper Discovery in Zambia
A California-based mining start-up, KoBold Metals, announced that it had discovered Zambia's largest copper deposit in a century. KoBold president Josh Goldman said on Monday the company's Mingomba mine in northern Zambia is poised to become one of the world's top ...
WEEK IN REVIEW: Nauru Officially Switched Diplomatic Allegiance From Taiwan to China
Indian naval forces are closely monitoring the movements of a Chinese research vessel operating in the Indian Ocean that is making its way towards the Maldives. Although these Chinese research ships are not officially designated as military vessels, the Indian government suspects the data they collect is used ...
Frantic Attempts to Rescue Seven Workers Trapped in Chinese Mine in Zambia
Zambian authorities are rushing to pump water and mud from a Chinese-owned mine in time to rescue five Zambian and two Chinese workers trapped underground. The workers were caught by an inrush of water on Monday at the Macrolink mine, about ...
Zambian and Chinese Miners Trapped Underground
Seven miners, including five Zambians and two Chinese nationals, are reportedly stuck in Zambia’s Chinese-owned Macrolink Mine. The mine is still under construction and hasn’t been commissioned yet. The miners are trapped 235 meters below the surface by rising water. One ...
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 ...
A Primer on China’s Role in the Worsening Zambian Debt Crisis
Zambia's debt restructuring deal that was hailed earlier this year as a "landmark" breakthrough for developing countries is now in shambles. Talks broke down a couple of weeks ago when bilateral creditors led by China and France objected to the terms ...
The Implosion of Zambia’s Debt Deal Signals Wider Worries
Delays in restructuring Zambian debt are weighing on the country’s economy and raise wider questions about the future of debt relief mechanisms around the world. Zambia appears stuck since the announcement last Monday that its committee of official creditors rejected a deal between ...
WEEK IN REVIEW: Zambia Debt | Lula’s China Diss | China-Africa Journalism
Zambia suffered a major setback this week in its nearly three-year odyssey to restructure $32 billion of debt when the country's bilateral creditors led by China and France pushed back against bondholders. Plus, Brazilian President Luiz Inácio Lula da Silva issued ...