On Tuesday, 17 November 2015, the Uganda government signed an agreement with Export-Import Bank of China (Exim Bank) to borrow $207 million at two per cent upon disbursement. The loan had a maturity period of 20 years including a seven-year grace period.
It has now emerged that the deal signed with the Chinese lenders virtually means Uganda “surrendered” its most prominent and only international airport.
The Uganda Civil Aviation Authority (UCAA) says some provisions in the Financing Agreement with China expose Entebbe International Airport and other Ugandan assets to be attached and taken over by Chinese lenders upon arbitration in Beijing.
It also emerged that China has rejected recent pleas by Uganda to renegotiate the toxic clauses of the 2015 loan, leaving Ugandan President Yoweri Museveni’s administration in limbo.
According to the Daily Monitor, the Ugandan government waived international immunity in the agreement it signed to secure the loans, exposing Entebbe International Airport to take over without international protection.
In desperation, Uganda in March sent a delegation to Beijing hoping to renegotiate the toxic clauses of the deal but the officials came back empty-handed as China would not allow the terms of the original deal to be varied.
Last week, Uganda’s Finance Minister Matia Kasaija apologized to parliament for the “mishandling of the $207 million loan” from the China Exim Bank to expand Entebbe International Airport.
Progress of works at the airport, built in 1972, has reached 75.2 per cent, with two runways having reached overall completion of 100 per cent.
Entebbe International Airport is Uganda’s only international airport and handles over 1.9 million passengers per year. Its seizure by China would greatly dent the legacy of the 77-year-old Museveni, who came to power on the back of an armed uprising in 1986, and expose him to election defeat.

https://guardian.ng/news/museveni-to-surrender-ugandas-only-international-airport-over-chinese-loan/

Nigeria and Nigerians should learn from this oh, Chinese are very strict and mean and have no space for sympathy if you default.

Maybe when we default in our payments in loans since oil will likely be useless then, they will asked for MMIA, apapa and tincan or they will even force some of our citizens to become labourers and the politicians who built the feel good projects will be abroad with their families

Hope Our own Museveni read terms and conditions before him sign our own.
Well Nigeria is too big for China to take over any of our assets only if we owe over 200bn$

That's kuku the general wealth of all Nigerians

Africa leaders with looting and block heads

So what is wrong with this? Most international airports are privately owned. The Ugandan government will collect their taxes every year and the Chinese management is constrained to follow Ugandan laws

Borrow Borrow

RiceProducers:
So what is wrong with this? Most international airports are privately owned. The Ugandan government will collect their taxes every year and the Chinese management is constrained to follow Ugandan laws

Do you know the implications on national security or even national pride of a country or that's what you BMC crew were told in your WhatsApp group

Nigeriens Nigerians right now:

you cant take over a airport of a country just like that....

the attacks against china is increasin rapidly....
you will see alot of white guys makin videos of how china is soo bad and their medias is tellin all sorts of crazy stuffs over china....

nzeobi:


Do you know the implications on national security of a country or that's what you BMC crew were told in your WhatsApp group

he is tellin you plain truth...na business as usual....shell,exxon and all others are doing the same thing....

i dont know why its now something else because they are chinese people....

Same fate awaits Nigeria..

The Chinese know what they are doing giving out huge loans to corrupt African countries.. they know we can't pay back and when the loan repayment date is due, they blackmail the government to surrender their nationalassets like airports and seaports so they can flood their made in China goods into the African markets while Industries and Intra-African trade dies totally.

The lawmakers and senators in NASS should continue approving loans for corrupt individuals in government to embezzle.. their children amd grand children too will reap from the negative effects later.

festacman:
Look, there are POSITIVES to this stringent China loan deals to African countries.
- It is a statement of indictment of our visionless leaders by China. Well done China!
- It is a big challenge from China to African leaders to see these stringent conditions as a incentive for them to manage their national resources better. And as they repay the loan faithfully, the mentality of mismanagement will change. Thumbs up China!

I think China's ruthless brand of colonialism is good for Africa. No babysitting. Mess up and be done for.

Will African take this challenge? For example, why shouldn't the highly viable Entebbe International Airport repay this loan if the new airport is properly managed?

you are right....we africans have to learn to play the hard way legaly....we can learn alot from china....

and btw....you cant take over assets of other nations just like that....
the nation can still kick you away from the assets....many nations did that....i think nigeria did something like that too shortly after independence....

All the Loans buhari is borrowing we all know where the collateral is, southwest and Niger delta nothing concern alaigbo sometimes it good to be marginalized.

What will befall some part of Nigeria very soon!!

flokii:
Same fate awaits Nigeria..

The Chinese know what they are doing giving out huge loans to corrupt African countries.. they know we can't pay back and when the loan repayment date is due, they blackmail the government to surrender their nationalassets like airports and seaports so they can flood their made in China goods into the African markets while Industries and Intra-African trade dies totally.

The lawmakers and senators in NASS should continue approving loans for corrupt individuals in government to embezzle.. their children amd grand children too will reap from the negative effects later.

it will depend....if you invest the loan well and generate more money,why not....??

look....their is practicaly no nation on earth that can develope without loans....
amelika owes over 20trillion dollars....who is takin away assets from them....??

tsdarkside:


you are right....we africans have to learn to play the hard way legaly....we can learn alot from china....

and btw....you cant take over assets of other nations just like that....
the nation can still kick you away from the assets....many nations did that....i think nigeria did something like that too shortly after independence....

Actually, there is no international law anywhere that gives one sovereign nation powers to take over another sovereign nation's assets whether loans or debts or anything.. China sees Africans as semi-humans, reason they are making moves with no legal backing to colonize Africa.

I just dey look Buhari

We will use him as collateral when China start disturbing us

flokii:


Actually, there is no international law anywhere that gives one sovereign nation powers to take over another sovereign nation's assets whether loans or debts or anything.. China sees Africans as semi-humans, reason they are making moves with no legal backing to colonize Africa.

Not just china, Every other race sees Africans as inferior including north Africans.

tsdarkside:


it will depend....if you invest the loan well and generate more money,why not....??

look....their is practicaly no nation on earth that can develope without loans....
amelika owes over 20trillion dollars....who is takin away assets from them....??

From all clear indices today.. Nigeria can't repay Chinese loans, IMF and world bank loans..
It was during Obasanjo's tenure that most of our foreign debts got cleared when Oil had value and the Naira had fair forex value, not now when things have gone really bad.

China with a population of 1.3 billion people are targeting African markets to sell their China-made goods to, keeping their own people engaged and employed in their industries there in China while Nigerian and African youths continue in pains of unemployment, massive job losses and zero Industrial activities or presence.
Corruption and bad leadership are the bane of the Black man and the Black society.

Nigeria will surrender Presidential Villa, when it gets to our turn.

nzeobi:
Nigeria and Nigerians should learn from this oh, Chinese are very strict and mean and have no space for sympathy if you default.

Maybe when we default in our payments in loans since oil will likely be useless then, they will asked for MMIA, apapa and tincan or they will even force some of our citizens to become labourers and the politicians who built the feel good projects will be abroad with their families

nothing to learn as we owe them much more money than Uganda so we should all prepare for China takeover of Nigeria and Nigerians as slaves

nzeobi:


Do you know the implications on national security of a country or that's what you BMC crew were told in your WhatsApp group

Come on. What National security?. The National security aspects of running airports are in the hands of a country's security agencies not the airport owner. Even in Nigeria NAA is not involved in security. It is Airforce, NIA, DSS, Immigration, etc

nzeobi:
Nigeria and Nigerians should learn from this oh, Chinese are very strict and mean and have no space for sympathy if you default.

Maybe when we default in our payments in loans since oil will likely be useless then, they will asked for MMIA, apapa and tincan or they will even force some of our citizens to become labourers and the politicians who built the feel good projects will be abroad with their families

Good!

China sould come and take over Nigeria....maza-maza! They couldn't do a worse job of running the country than we have....let's be honest! At worst, they'd whip us all into line!

Saao:
nothing to learn as we owe them much more money than Uganda so we should all prepare for China takeover of Nigeria and Nigerians as slaves

Hehehehehe

Nigeria turn is coming

bigpriik:

Not just china, Every other race sees Africans as inferior including north Africans.

Fact!

And we daft Africans have helped them perpetuate this fasle notion! We know what to do to change things in the next 20 years but we wouldn't do it because we want to stick to stupid arrangements made for us by European enslavers more than a century ago!

flokii:


From all clear indices today.. Nigeria can't repay Chinese loans, IMF and world bank loans..
It was during Obasanjo's tenure that most of our foreign debts got cleared when Oil had value and the Naira had fair forex value, not now when things have gone really bad.

China with a population of 1.3 billion people are targeting African markets to sell their China-made goods to, keeping their own people engaged and employed in their industries there in China while Nigerian and African youths continue in pains of unemployment, massive job losses and zero Industrial activities or presence.
Corruption and bad leadership are the bane of the Black man and the Black society.

We have EVERYTHING China has.....including one head and two hands, yet they are taking over Africa with the ease of taking candy from a baby!

ok now nigeria is next

Good!

China should continue since the black race doesn't want to be productive.

This is purely economic warfare!

This loan will make the Uganda government sit up and make sure they manage the airport well and every penny accounted for.