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Tag Archives: Angola

[AUDIO] The danger of too much Chinese debt in Africa

The financial implosion in Venezuela is prompting growing concern in Beijing that China may have been too ambitious in its drive to loan billions of dollars to high-risk countries throughout the global south. Persistently low oil prices combined with corrupt, incompetent leadership in Caracas have pushed the country to the brink of economic collapse. The dire situation in Venezuela raises ... Read More »

[AUDIO] Africa feels the chill of China’s cooling economy

It hasn’t even been a month since Chinese president Xi Jinping was in South Africa for the triennial FOCAC confab where he unveiled a massive $60 billion financial package. Oh how those were innocent, halcyon days. There was a still a prevailing sense of optimism that everything would be OK. In just a few short weeks, so much has changed. ... Read More »

FOCAC 6: This time it’s different

When Chinese president Xi Jinping arrives in Johannesburg to lead the upcoming Forum on China Africa Cooperation summit, he will be greeted as an old friend by his African counterparts. There will be smiles, the customary toasts to “win-win development” and a projection of confidence from both sides that all is well in China’s engagement strategy in Africa. But all ... Read More »

[AUDIO] FOCAC: what to expect at this year’s mega China-Africa summit

The 6th Forum on China Africa Cooperation (FOCAC) that will be held in December in Johannesburg comes at critical time in the Sino-African relationship. The combination of China’s slowing economy, a major slump in global commodity prices and a dramatic 84% YOY plunge in Chinese investment in Africa will no doubt loom over the meeting of president Xi Jinping and ... Read More »

[AUDIO] China & Africa: are the good times over?

One of the prevailing media narratives of China’s recent economic turmoil is the effect that it could have on emerging markets, particularly in Africa. Now that the Chinese economy is showing real signs of slowing, the story goes, Beijing will soon pull back on the billions of dollars in investments and purchases that it makes from commodity-exporting African markets. While ... Read More »

[AUDIO] China’s role in Africa’s “Looting Machine”

China goes to great lengths to differentiate its engagement in Africa from the continent’s former European colonizers by emphasizing so-called “win-win development.” Chinese leaders regularly visit Africa where they emphatically reject the accusation of neo-colonialism and that Beijing is only interested in exploiting the continent’s natural resources. The reality, though, is much more complicated, according to Financial Times Investigations Correspondent ... Read More »

[AUDIO] The dark side of Chinese investment in Africa

Sam Pa is a mysterious man, largely unknown to the outside world. Yet Pa, who goes by at least 7 different aliases, represents the nefarious side of China’s engagement in Africa. Sam Pa and his associates in the Hong Kong-based consortium known as the 88 Queensway Group represent a new breed of predatory investors who work in the shadows to ... Read More »

[AUDIO] Sam Pa, China’s mysterious middleman in Africa

Publicly China’s engagement in Africa is based on “mutual benefit” or, as Chinese officials like to phrase it “win win.” Behind the scenes, though, it’s a little more complicated. Many of those multibillion dollar natural resource-for-infrastructure deals have been arranged by mysterious middlemen like Sam Pa and his Hong Kong-based Queensway Group. These go-betweens, according to reporting from the FT’s ... Read More »

Chinese construction of Angola Benguela railway project completed [TRANSLATION]

By Jana Mudronova China Railway Construction announced completion of 1,344 km Benguela Railway in Angola on August 13. The railway will be put in operation later this year. According to Xinhua, this is the second largest railway project constructed by Chinese in Africa after TAZARA in Tanzania. The Chinese news site The Observer reports on the completion of the rail line ... Read More »

[AUDIO] China’s new diplomacy in Africa

Chinese Prime Minister Li Keqiang wrapped up his four-nation tour of Africa where he set out to broaden Beijing’s diplomacy on the continent beyond natural resource extraction. Li was well-received in each stop along his journey and seemingly received high marks for China’s new, more ambitious agenda in Africa. Eric & Cobus look at the key trends to emerge from ... Read More »