₦airaland Forum

Amidst claims of debt trap diplomacy by China, Chinese firms are winning the bulk of mega projects in Africa. China’s project in Africa account for a significant portion of all big foreign contractors revenue on the continent. According to Hong Zhang, a researcher at George Mason University’s Scholar school of policy and Government in west Virginia, in an interview with South China Morning Post, Chinese Construction and Engineering Contractors have attained a dominant position in the African market. They are winning larger scale or technically more demanding projects that domestic contractors are unable to complete.

In recent years, some African Countries are beginning to examine the cost benefit of analysis of Chinese investment as well as the terms for such financing. Tanzania joined the increasing list of African countries that are scrutinizing Chinese investment. Last year, Tanzania’s late president John Magufuli, cancelled a $10 billion loan arrangement negotiated by his predecessor Jakaya Kikweed. According to the local press, the loan arrangement called for the port to be built on unfavorable financial terms. Leading African financial experts have advised African countries to examine the fine print of the conditionalities imposed by China.

It would in their opinion prevent Beijing from seizing a portion of their asset as it has in recent years in Kenya, Madagascar, Zambia and Zimbabwe. The International Monetary Fund have also persistently warned Africa and third world countries that mounting debts to China are dangerous. It stresses that the Chinese creditors create some instability or vulnerabilities.

Source: https://gombiland.com/why-china-dominates-mega-projects-in-africa/

Read more on why they are racing for Africa: https://gombiland.com/race-for-africa/

China is coming for Africa after dominating Asia in her quest to become the dominating global financial world power..

Because Africa doesn't have the funds for these projects and the west were initially not interested in funding them, so China stepped in to fill the void! China has the cash and their endgame is influence and having a presence in Africa in their bid for world domination!

China should tell us how much they need to LEASE AFRICA TO THEM FOR 20YRS...

CHiNA will soon be overcrowded, so they're making Africa Economically Habitable for them..

When they eventually starts over flowing...

IGBOSON1:
Because Africa doesn't have the funds for these projects and the west were initially not interested in funding them, so China stepped in to fill the void! China has the cash and their endgame is influence and having a presence in Africa in their bid for world domination!

sounds nice but at what costs

Arda1000:
sounds nice but at what costs

Africans have the funds, but they lack the know-how and common sense. Africans are not seen to be humans enough to undertake scientific and infrastructural development.

MajesticKris:
China should tell us how much they need to LEASE AFRICA TO THEM FOR 20YRS...

CHiNA will soon be overcrowded, so they're making Africa Economically Habitable for them..

When they eventually starts over flowing...

Dat could b anoda way 2 look at d situation.

MajesticKris:
China should tell us how much they need to LEASE AFRICA TO THEM FOR 20YRS...

CHiNA will soon be overcrowded, so they're making Africa Economically Habitable for them..

When they eventually starts over flowing...

I do not agree with this. China still has enormous land and many unoccupied homes that can sustain the growing population.

IGBOSON1:
Because Africa doesn't have the funds for these projects and the west were initially not interested in funding them, so China stepped in to fill the void! China has the cash and their endgame is influence and having a presence in Africa in their bid for world domination!

and also, Africa has the population, we also have the market. Do not forget, we are also going to pay for everything either with our natural resources which they prefer or with cash.

MuhdGombi:
Amidst claims of debt trap diplomacy by China, Chinese firms are winning the bulk of mega projects in Africa. China’s project in Africa account for a significant portion of all big foreign contractors revenue on the continent. According to Hong Zhang, a researcher at George Mason University’s Scholar school of policy and Government in west Virginia, in an interview with South China Morning Post, Chinese Construction and Engineering Contractors have attained a dominant position in the African market. They are winning larger scale or technically more demanding projects that domestic contractors are unable to complete.

In recent years, some African Countries are beginning to examine the cost benefit of analysis of Chinese investment as well as the terms for such financing. Tanzania joined the increasing list of African countries that are scrutinizing Chinese investment. Last year, Tanzania’s late president John Magufuli, cancelled a $10 billion loan arrangement negotiated by his predecessor Jakaya Kikweed. According to the local press, the loan arrangement called for the port to be built on unfavorable financial terms. Leading African financial experts have advised African countries to examine the fine print of the conditionalities imposed by China.

It would in their opinion prevent Beijing from seizing a portion of their asset as it has in recent years in Kenya, Madagascar, Zambia and Zimbabwe. The International Monetary Fund have also persistently warned Africa and third world countries that mounting debts to China are dangerous. It stresses that the Chinese creditors create some instability or vulnerabilities.

Source: https://gombiland.com/why-china-dominates-mega-projects-in-africa/

Read more on why they are racing for Africa: https://gombiland.com/race-for-africa/

Not only deat when they build the infrastructure in less than five years the infrastructure is crumbling. I saw this is Zambia Zimbabwe Mozambique Tanzania Angola most of the Chinese infrastructure do not even get to five years before they are falling apart