ZAMBIA - Africa has an unfortunate history regarding colonialism. Is anyone is keeping a watchful eye on current perpetrator – China.
The influence of China’s investment sparks massive debate about Africa’s future. It’s involvement in Zambia’s political and financial affairs are a prime example.
This article was first published in our weekly newsletter on 23 October 2018
Earlier this year The President of Zambia, Edgar Lungu, returned from Beijing under a cloud of suspicion which sparked rumours of Zambia negotiating a new loan with Zambia’s national electricity supplier, Zesco, as a guarantee.
The thought of the communist state being this close a State-Owned Entity has cautioned other African countries to be weary of the benefactor with bottomless pockets when it comes to investment and development.
Following the Beijing Summit of the Forum on China-Africa Co-operation earlier this year, African leaders pledged to deepen their co-operation with China to achieve common development and mutual benefits. This quid pro quo approach leaves little to the imagination in terms of Chinese ambition.
In Zambia’s case Chinese investment arrived in the country in the 1990s, when Zambia’s copper mines were privatized, motivating Beijing’s wave of lending to Zambia. This accompanied a wave of Chinese immigration to Zambia.
It is estimated that 100 000 Chinese now reside in Zambia.
What is YOUR opinion on China’s increasing influence in Africa’s business and political landscapes?