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Letter to the Editor: Those “Sino-Africa Swap Deals are Happening”

After I published the story yesterday on the evolution of China's Resource-for-Infrastructure deals in Africa and the emergence of new financing models, known as "Sino-Africa Swap" deals, I wanted to get some additional perspective to find out if this is something that's actually happening or if ...

Kenya’s Embattled SGR Suffers Major Setback as Burundi, DRC Opt for Tanzania Route to Port of Dar es Salaam

Kenyan President Uhuru Kenyatta's longheld dream of extending his $4.9 billion Chinese-financed Standard Gauge Railway across East Africa suffered a major setback this week as both Burundi and the Democratic Republic of the Congo both opted to go with Tanzania's SGR for direct access to the port ...

China’s Resources-for-Infrastructure Financing Mechanism is Evolving Into the “Sino-Africa Swap”

Decades before China embarked on countless Resource-for-Infrastructure deals in Africa, Japan pioneered the model in China as far back as the 1970s. The rapidly industrializing Japanese economy needed oil Chinese oil, minerals and other raw materials and China, one of the poorest countries at the time and ...

Six African Leaders Confront IMF Director, Insist that Bretton Woods Institutions Have to Change

Dr. Kaberuka's comments on Sunday in Kigali were similar to sentiments expressed in a somewhat confrontational forum that took a few days earlier in Dakar. At a conference on debt sustainability organized by the International Monetary Fund, six African leaders led by Senegalese ...

“The Idea That Africa is Drowning in Debt is Nonsensical”

The former president of the African Development Bank, Dr. Donald Kaberuka, joined a chorus of African leaders this week to reject accusations that African governments have taken on too much debt and have borrowed excessively from China. In a speech at ...

OPINION: Why Africa Should Embrace the Yuan as a Reserve Currency

Kenyan economist and commentator Benard Aiyeko laid out his case as to why African central banks should add the Chinese yuan to their basket of reserve currencies. Today, only a few African countries including Angola, Zimbabwe and Nigeria settle some of their payments in yuan and hold ...

China Accused Zimbabwe of Undercounting Its Financial Assistance… By a Lot!

A very public rift broke out on Tuesday between China and Zimbabwe over how much financial assistance Beijing provides to Harare.  It all began last Thursday when Finance Minister Mthuli Ncube said in a budget statement that Zimbabwe had received a total ...

China Creates $5 Billion Export Fund with Bank in Morocco

China's Exim Bank announced plans to team up with Morocco's Attijariwafa Bank to create a $5 billion fund to promote African exports to China and to establish new industrial zones on the continent, according to a report published by Reuters. The ...

As the US and France Try to Compete with China in Building African Infrastructure, Their Public-Private Financing Model is in Jeopardy

Both France and the United States have been vocal critics of China's state-led infrastructure development model in Africa and the accompanying loans for projects extended by Beijing's policy banks. Fearful that China is using loans to extend political influence along with the fact ...

China to Challenge Facebook’s Libra With Its Own Cryptocurrency and Africa Could be Huge Potential Market

A quick follow-up from the story we shared yesterday about how the dominance of Chinese mobile phone companies in Africa could create a "walled garden" that would exclude Facebook's proposed cryptocurrency Libra. Now, CNBC reports that the Chinese government is expediting the development of ...
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