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It’s Make or Break Time in Zambia as the Government, Bondholders, and China All Face-Off

A dramatic showdown is taking place in Zambia. Bondholders, Chinese creditors, and the government are all involved, and the fate of the country's financial stability is at stake. A crucial vote is scheduled to take place tomorrow that will likely determine if Zambia will become ...

FT Editorial: Transparency Is the Key to Solving the Zambian Debt Crisis

The Financial Times newspaper published a sharply worded editorial this weekend that called on Chinese creditors and Zambian borrowers to be more transparent in their dealings with one another in order to avoid what looks increasingly like an imminent default on some of the southern Africa's country's ...

Chinese Diplomats in Nigeria, South Africa Mount Counterattack To U.S.-Led Predatory Lending Accusations

Two senior-level Chinese diplomats in Africa are speaking out against U.S.-led accusations that Beijing engages in predatory lending on the continent, or "debt trap" diplomacy. In separate appearances, Chu Maoming, the consul general in Lagos, Nigeria, and Li Nan, the deputy chief of mission (DCM) at the ...

U.S. Government Launches New Investment Program With the Aim of Providing African Countries an Alternative to China

The U.S. International Development Finance Corporation (DFC) and the Washington, D.C.-based think tank The Atlantic Council organized a five-hour online conference on Friday to discuss a new, private-sector-led initiative that aims to drive more U.S. investment towards Africa. The "Investing in Africa's Future" seminar featured many of ...

Huawei’s CSR Efforts in Africa Are Surprisingly Successful

Chinese companies are generally not well known for implementing successful corporate social responsibility programs. CSR, for the most part, is still a relatively new concept in China. But Huawei's efforts in Africa, particularly since the beginning of the COVID-19 outbreak earlier this year, is proving to be ...

Analysis from Cobus van Staden

Commodity Supercycle Blues

The editorial board of Financial Times published an op-ed yesterday announcing a new commodities supercycle. They argued that the global pivot towards climate-friendlier technologies like electric vehicles is pushing demand for metals like cobalt, lithium and palladium (used in catalytic converters.) In addition, the Biden administration’s new commitments to building infrastructure at home (and possibly abroad) will further boost demand for steel, with iron ore futures hitting record prices in Singapore this week.Where FT ...

Meet Zhao Zhiyuan, China’s Unusual Incoming Ambassador to Ethiopia

China's newly-appointed ambassador to Ethiopia Zhao Zhiyuan will take up his new post in Addis Ababa soon where he will replace Tan Jian who left his post last month in what was described as a regular rotation. But Zhao comes to ...

The New U.S. Plan to Challenge Huawei is Dead on Arrival in Africa

The United States is stepping up its efforts to try and contain Chinese tech companies like Huawei with a new development financing program that aims to persuade countries in places like Africa to avoid using equipment made by the telecom giant. ...