10 AFRICA’S BIGGEST BORROWERS FROM CHINA IN THE LAST DECADE

Nairobi, KENYA

China is making inroads in Africa. In the past 10 years, Beijing has been trying to leave footprints in almost every African country by taking part in major infrastructural projects.

China is now the biggest lender in most African countries. The move to give massive loans to poor African countries has sent chills down the spines of the United States of America.

In Kenya, one cannot talk about the Standard Gauge Railway (SGR) without bringing China into the picture. In fact, what Kenya owes China is so huge that we shall pay in generations.

Most agreements that China is making with African countries are “confidential” and never open to the public. It is even said that most African presidents have no idea of what the contracts contain.

Here are the 10 top borrowers from China:

Angola ~ USD 42.8 Billion

Ethiopia ~ USD 13.7 Billion

Kenya ~ USD 9.8 Billion

DRC ~ USD 7.4 Billion

Sudan ~ USD 6.5 Billion

Zambia ~ USD 6.4 Billion

Cameroon ~ USD 5.5 Billion

Nigeria ~ USD 4.8 Billion

South Africa ~ USD 3.8 Billion

Ghana ~ USD 3.5 Billion

The total Kenyan public debt has crossed the 6 trillion mark and it is estimated that by the time President Uhuru Kenyatta will be leaving office, the debt would have ballooned to 7.2 trillion shillings.

The Senate passed a recommendation to cap the Kenyan government’s appetite for loans to 9 trillion shillings but did not provide details of what will happen if the ceiling is hit.

As the year 2020 kicks off, it is estimated that Kenya and other African countries will continue borrowing more from China to finance their various projects.

From the list of the top borrowers, Kenya comes out as the only country within the East African Community that seems to be on a borrowing spree.

President John Magufuli of Tanzania has often differed with China’s debt policy and at one point described the contracts as exploitative and only a mad man can agree to them.