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10 African Countries With The Highest Debt To China by Talkwell: 12:05pm On Feb 13, 2019
Over the years, China has become one of the biggest African trade partners. The Chinese have invested billions of dollars into the African continent in form of debts given to these countries.
Below is a list of the top ten African countries with the largest Chinese debt:

1. Angola
Angola is the most indebted African country to China. It has an estimated debt of over US$25 billion. Shocking, but that’s the reality at hand. Most of Angolan oil is going towards the repayment of Chinese debts, despite Angola being the second largest producer of oil in Africa.

2. Ethiopia
All those Chinese infrastructural development projects in the East African country are coming at a heavy price. Ethiopia has an estimated debt of US$13.5 billion. The debt levels have slowed down some projects due to repayment issues, but there is now a new structure for these debts that makes it a little bit affordable for Ethiopia to repay.

3. Kenya
Even after the discovery of oil in the northern part of the country, nothing in essence is working towards cutting down the levels of debt to China. Kenya has an estimated debt of US$7.9 billion. The country has been taking money to facilitate the fruition of its infrastructural projects. But as lack of transparency and accountability come into play, a lot of money has been lost to corruption.

4. The Republic of Congo
Congo, which may be popularly known as Congo-Brazzaville, has an estimated debt of US$7.3 billion. Again, corruption has played a major role in ballooning the debt to such egregious levels.

5. North Sudan
The conflict-torn country has an estimated debt of over US$6.4 billion. Although China has written off the country’s debt incurred in 2015, it still has a long way to go.

6. Zambia
Zambia is increasingly getting mired in the tentacles of Chinese debt. The Chinese have sponsored a lot of projects in the country. The country has an estimated debt of US$6 billion. China is taking Zambian firms as part of repayment plans, and there were reports that ZESCO, the national power utility, was being taken over by China, even ZNBC, the country’s national broadcaster.

7. Cameroon
Cameroon has an estimated debt of US$5.5 billion. However, it was recently revealed that China was in talks to cancel part of the country’s debt. But with China, nothing is so certain.

8. Nigeria
The West African country has an estimated debt of US$4.8 billion. Nigeria has accepted the Chinese yuan as a reserve currency.

9. Ghana
Ghana stands at number 9 with an estimated debt of US$3.5 billion. The country’s opposition has involved the IMF to help look into the country’s debt

10. The Democratic Republic of Congo (DRC)
The DRC could easily be one of the richest countries in the world considering how it is abundantly endowed with precious natural resources and minerals. However, plundering of these resources has set the country back, including unending conflict. It has an estimated debt of US$3.4 billion. DRC was quick to exchange mineral resources for loans with China.



https://www.smokedscreen.com/2019/02/10-african-countries-with-the-highest-debt-to-china/

4 Likes 1 Share

Re: 10 African Countries With The Highest Debt To China by stagger: 12:08pm On Feb 13, 2019
Angola I can understand. They had a civil war from 1975 to 2003 or thereabout. 28 years civil conflict and the devastation it brings is not a joke.

63 Likes 2 Shares

Re: 10 African Countries With The Highest Debt To China by MrRichmond: 12:50pm On Feb 13, 2019
The white have colonized us, now it's time for the Asians.

The same way our ancestors were sold out by their Kings is the same way our politicians are selling us to the Chinese.

In a few years time, half of Africa will be speaking Chinese.

163 Likes 14 Shares

Re: 10 African Countries With The Highest Debt To China by enemyofprogress: 2:33pm On Feb 13, 2019
Thank God Nigeria is not one of them

3 Likes 3 Shares

Re: 10 African Countries With The Highest Debt To China by Jaguntemmy(m): 2:33pm On Feb 13, 2019
Well at least we are not the number 1

13 Likes 3 Shares

Re: 10 African Countries With The Highest Debt To China by Nobody: 2:34pm On Feb 13, 2019
Nigeria owes China $4.8bn, meanwhile total investment inflow into Nigeria in 2018 excluding Treasury bills and bonds sales which is debt is $4.7bn.

Moreover this is excluding the $10.5bn borrowed via treasury bill/bonds sales, which would be paid with interest at 10% interest rate on maturity.

Are you moving forward or backward?...

71 Likes 6 Shares

Re: 10 African Countries With The Highest Debt To China by itsandi(m): 2:34pm On Feb 13, 2019
I knew Nigeria will be among. Surprised sha that we are not number 1. We try sha.

13 Likes

Re: 10 African Countries With The Highest Debt To China by Fran6ik: 2:35pm On Feb 13, 2019
You can see the ethiopias debt in the infrastructures

16 Likes 1 Share

Re: 10 African Countries With The Highest Debt To China by Topmaike007(m): 2:35pm On Feb 13, 2019
This is crazy,I mean crazyines

1 Like

Re: 10 African Countries With The Highest Debt To China by Racoon(m): 2:35pm On Feb 13, 2019
“To show to Nigerians the profligacy and ineptitude of the current administration, I draw their attention to the fact that between July and August 2018, the Buhari administration claimed it had shared $322 million Abacha funds recovered by the Jonathan administration to the poor. Then a week after it made that announcement, the Buhari government borrowed $328 million from China.-Reno Omokri

25 Likes 2 Shares

Re: 10 African Countries With The Highest Debt To China by wise2odd: 2:36pm On Feb 13, 2019
the op is trying to justify buhari loan. there is no accountability to buhari loan

5 Likes

Re: 10 African Countries With The Highest Debt To China by OBTMOS(m): 2:36pm On Feb 13, 2019
Chai
Re: 10 African Countries With The Highest Debt To China by MicroBox: 2:36pm On Feb 13, 2019
I always hate this concept of Afro-Asian collaboration.

2 Likes

Re: 10 African Countries With The Highest Debt To China by WebSurfer(m): 2:36pm On Feb 13, 2019
VOTE PDP and take us back to where it started

VOTE APC to remain in slavely

VOTE AAC to join the fight of freedom regardless how the two rogues play their games

24 Likes 3 Shares

Re: 10 African Countries With The Highest Debt To China by lastempero: 2:36pm On Feb 13, 2019
China and their Greek gift that can run your stomach like mad.when they give you loan they come with their labourers, workers and machine to take back their money.

3 Likes

Re: 10 African Countries With The Highest Debt To China by iambijo(m): 2:37pm On Feb 13, 2019
Toh
Re: 10 African Countries With The Highest Debt To China by themosthigh: 2:38pm On Feb 13, 2019
I know that in a few years time, most of Africa will be a barren indebted wasteland. Our leaders know this and just collect money from anyone knowing fully well that they can’t pay back. They use this money to invest abroad, send their children there to become citizens while other people’s kids remain in Nigeria. Most children of are leaders have dual citizenships. Most have houses in rich countries. If you can, migrate now or you will be one of those who will be suffering in the future.

18 Likes

Re: 10 African Countries With The Highest Debt To China by Athena4: 2:38pm On Feb 13, 2019
The Chinese scare me.

4 Likes 1 Share

Re: 10 African Countries With The Highest Debt To China by frowland(m): 2:39pm On Feb 13, 2019
Every sensible African narion have moved away from World bank and IMF loans.

6 Likes

Re: 10 African Countries With The Highest Debt To China by dermmy(m): 2:39pm On Feb 13, 2019
MrRichmond:
The white have colonized us, now it's time for the Asians.

The same way our ancestors were sold out by their Kings is the same way our politicians are selling us to the Chinese.

In a few years time, half of Africa will be speaking Chinese.


Yeah and we should be expecting their military and drone bases like their American and French counterparts.

1 Like

Re: 10 African Countries With The Highest Debt To China by origima: 2:40pm On Feb 13, 2019
stagger:
Angola I can understand. They had a civil war from 1975 to 2003 or thereabout. 28 years civil conflict and the devastation it brings is not a joke.


And we had corruption from 1960 to 2019 thereabout
. 59 yrs of sabotage, selfishness and the poverty it brings is painful

22 Likes

Re: 10 African Countries With The Highest Debt To China by blindjustice13(m): 2:40pm On Feb 13, 2019
MrRichmond:
The white have colonized us, now it's time for the Asians.

The same way our ancestors were sold out by their Kings is the same way our politicians are selling us to the Chinese.

In a few years time, half of Africa will be speaking Chinese.

with the senilty and dementia of the president if he his elected again ,"the cabal " might just hand him a document officially selling Nigeria to china, he will sign it without knowing .

The worse part of this is that the Asians are the worse set of racist on the face of the earth . you think Europeans were bad,wait till you meet Asians.

Those slant eyed yellow monkeys and brown savages are the crudest of them all.

22 Likes

Re: 10 African Countries With The Highest Debt To China by imitateMe(m): 2:41pm On Feb 13, 2019
I want this country to be recolonized o. E go better be that.
Re: 10 African Countries With The Highest Debt To China by homealone00: 2:41pm On Feb 13, 2019
enemyofprogress:
Thank God Nigeria is not one of them
uncle IPOB are you blind? You must be that Cameroonian brother.

4 Likes

Re: 10 African Countries With The Highest Debt To China by jomoh: 2:41pm On Feb 13, 2019
No wonder China keeps seizing their property.


Apart from Angola and Nigeria, which country on the list has what it takes to sustain the loan they’re collecting.


Population NO
Crude oil NO


So why go borrow such huge funds. People should stop comparing Nigeria to those countries we are far above them.

7 Likes

Re: 10 African Countries With The Highest Debt To China by Originalsly: 2:42pm On Feb 13, 2019
Wow!....Angola #1 with $25B..... hmmmm.....but $60B not enough to fix our power supply.
Why should Nigeria be owing when we have the resources they want?....why should most of the countries be owing when they have what China wants? African leaders....always signing bad contracts and the locals be shouting good development.

1 Like

Re: 10 African Countries With The Highest Debt To China by enemyofprogress: 2:42pm On Feb 13, 2019
homealone00:
uncle IPOB are you blind? You must be that Cameroonian brother.
did you see Nigeria on the list
Re: 10 African Countries With The Highest Debt To China by shogz89: 2:42pm On Feb 13, 2019
africa is owing just one country almost 90billion..

and they say two heads are better than one

7 Likes 1 Share

Re: 10 African Countries With The Highest Debt To China by homealone00: 2:45pm On Feb 13, 2019
enemyofprogress:
did you see Nigeria on the list
like for real? Did you check no. 8 ?

2 Likes

Re: 10 African Countries With The Highest Debt To China by lagdmark(m): 2:45pm On Feb 13, 2019
enemyofprogress:
Thank God Nigeria is not one of them
Demented you read, you see, and you forget everything

1 Like

Re: 10 African Countries With The Highest Debt To China by Nobody: 2:46pm On Feb 13, 2019
Other African countries uses their debt judiciously but nigerian government uses it debt to fund buhari's campaign.

5 Likes 1 Share

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