China has been financing African projects for several decades. In August 2018, the president of China, Xi Jinping, announced over $60 Billion in additional “aid” financing for the continent. This “aid” or “trade” financing is actually significant debt financing that’s woeful if not properly managed. Debt financing in ideal markets, should be used to service growth to increase and maximize revenue and not for “aid” purposes that should be funded from internally generated revenue. Presidents and the government of African countries must be meticulously careful in accepting international financing and even international aid. We must first maximize and capitalize on the natural and human potentials within our individual countries and within intra-Africa opportunities. The following are the top 5 African countries receiving the largest debt financing from China:
- South Africa
Democratic Republic of Congo and Zambia are also receiving significant debt financing from China. Most of the debt financing is geared towards projects related to Mining, Telecommunications, Infrastructure and Energy (Oil, Gas and Power). Possibly also financing corruption activities as minimal developments continue to emerge from the continent as a whole.
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The Olatorera Consultancy brand has grown from an ambitious solo-preneur to a team of over 50 people highly assertive on providing the seal and stamp of “Africa’s Best” to great businesses in Africa and beyond. Chief Executive Consultant, Olatorera Oniru is very passionate about seeing businesses succeed and operate optimally. She is also notably passionate about witnessing Africa transformed into one of the world’s greatest continents. Olatorera Consultancy has an annual outline of businesses we work with. We currently do not accept unsolicited applications. To network with the team at Olatorera Consultancy Limited, please add your company to the reviews page here. An Olatorera Consultancy company representative may be in touch with you shortly after reviewing your company’s readiness for business consultation services.
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