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Analysts suggest African leaders should exercise caution
By Nsikan Ikpe
Concern is mounting across Africa over China’s intensified romance with the mother continent under the auspices of the ‘Belt and Road Initiative,’ The Difference can report.
This is coming after the Asian power made fresh commitments of $60billion in loans to the continent at the 2018 edition of the now annual Forum on China Africa Cooperation, FOCAC that took place in Shanghai, China recently.
As many as 53 African Heads of States personally participated in the loans-binge.
Given the infrastructure and development needs of the continent at the moment, there are some who are of the view that the continent should encourage any of the richer nations in the world that want to help out with much needed finance to throw in their own bits. One such proponent is African Development Bank, AfDB President, Akinwunmi Adesina, who argues that the loans from China would be helpful and useful.
According to analysts, it is necessary that African leaders exercise ample caution in signing onto the offers coming from China so as to avert a situation where their independence and sovereignty would be compromised over time.
Already, nations like Djibouti and Zambia are said to presently be reeling under the weight of consequential clauses in the loans agreements with the Chinese which permit them to take over infrastructure and land assets upon which their loans had been extended in the event of a default.
President Xi Jinping of China
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