china

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?

1 COMMENT

  1. 2018/11/13
    Ivan Jacobs

    I believe an investment is only as good as the returns, it must be beneficial to both parties, in the case of China investing especially looking at Zambia, it is definitely not a healthy business relationship / deal. When your assets like power supply etc. gets involved that is when you should see big red flags coming up. The , let us call it invasion of Chinese permanently residing in a country especially in Africa where we do have massive unemployment problems, and the poorest of the poor suffering the most battling to make ends meet, adding another couple of thousands that will eventually become millions is a true recipe for disaster. A already battling economy can only support so much and nothing more, sadly the kind of investments do not create jobs for the locals, I truly believe we in Africa need to look at our own people’s needs first, and investments from certain countries needs to be scrutinized more intensely, the pro’s and con’s needs to be very carefully weighed.