The People’s Republic of China has lent its helping hand to Africa but it might be at an age-long expense. It might interest you to know that China is always a call away posing as a big brother to Africas’ cry.
As the debt profile of the continent increases, it’s would benefit the next generation if the current African leaders take a cue from the Democratic Socialist Republic of Sri Lanka, who in turn secured a loan from China to build a port, after defaulting in payment, hand over the port to the Chinese.
Top 5 African countries indebted to China
- Angola – Owing 25 billion dollars
- Ethiopia – Owing 13.5 billion dollars
- Kenya – Ticking financial timebomb
- The Republic of the Congo – “Congo is officially in debt distress” – IMF
- Sudan – Debt profile unsustainable
Video Credit: China Uncensored