Tag: Infrastructure
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Kenya to Take Control of Some SGR Responsibilities Ahead of Schedule in an Effort to Reduce Debt Burden
Kenya Railways (KR) and Afristar, a subsidiary of the state-owned China Road and Bridge Corporation, have agreed to transfer some of the responsibilities of operating the embattled Standard Gauge Railway years ahead of schedule as part of an effort to reduce the financial burden on ...
How Much Does Kenya Owe China to Build and Operate the Various SGR Lines?
It's not clear at this time if the decision to expedite the handover of some SGR responsibilities from Afristar to Kenya Railways is part of the ongoing debt restructuring talks that are purportedly underway between China and Kenya. Until now, there's ...
The Economist Intelligence Unit Mapped Out Chinese Trade and Investment in Africa
The London-based Forecast Director for the Economist Intelligence Unit, Agathe Demarai, has been posting quite a bit lately on China-Africa issues, albeit with varying degrees of accuracy (her assertion that Africa as a continent had a Chinese debt problem is not correct, for example) ...
Kenya’s Delicate Balancing Act Between the U.S. and China
Kenya has done far better than many countries in fostering robust ties with both the United States and China, particularly in economic relations. Just last week, President Uhuru Kenyatta spoke by phone with his American counterpart Joe Biden and ...
Washington’s Former Top Diplomat For Africa: “China’s Kicking Our Tails Everywhere”
Tibor Nagy, the top U.S. diplomat for Sub-Saharan Africa under ex-President Trump, re-surfaced for the first time since he left Washington in January. Nagy published a column in a local Texas newspaper calling on the current U.S. administration to do more to stop China's rising influence in ...
Analyst: Nigeria on the Cusp of a Debt Crisis, But Loans From China Not to Blame
The Nigerian Debt Management Office on Monday revealed that it has $5.8 billion of borrowed money on its books that it hasn't disbursed. This prompted new worries among some financial analysts that the actual debt-to-GDP ratio has surpassed 100%, meaning that the country has taken on so ...
Chinese Financing to Latin America Fell to Zero in 2020, Providing a Cautionary Tale For Africa and Other Developing Regions
There's new evidence of the dramatic plunge in Chinese overseas development finance. Researchers in the United States found that for the first time in more than a decade, China's two largest policy banks, the China Development Bank and the China Exim Bank, did not ...
“Them” But Also “Us”
The recent striking images of Texans stuck in freezing temperatures without electricity and queueing for water were hard to process. I felt much solidarity with them, especially when a blackout in Johannesburg made it impossible for me to join Eric ...
China’s Low Profile Diplomacy in the Caribbean
China is steadily, albeit quietly, deepening its ties in the Caribbean region using many of the same techniques that it did in the early 2000s when it ramped up its engagement in Africa. The Chinese are buying more agriculture, building infrastructure, ...
Kenya to Finally Extend the SGR to the Ugandan Border… Without Any Chinese Financing
Kenya's parliament approved funds to extend the Standard Gauge Railway from Naivasha in the Rift Valley all the way to Malaba on the border with Uganda. Several years ago, this extension was known as "SGR Phase 3." President Uhuru Kenyatta's requests for the financing of this phase ...
The Future of Chinese-Financed Infrastructure in Kenya
The China Road and Bridge Corporation is building a massive new half-a-billion dollar expressway right through the Kenyan capital of Nairobi. But this project is very different than previous Chinese-financed infrastructure initiatives in Kenya, like the ailing Standard ...
Amid a Worsening Debt Crisis, Kenya Struggles to Finance New Infrastructure and All Those Useless “White Elephants”
The Kenyan government, like a lot of African governments, is struggling to find the right balance between continuing to pay for badly-needed new infrastructure while at the same time servicing its enormous debts for older projects -- many of which are now so-called "white elephants" that were ...