[ICYMI] PetroSA wants to use leftover gas from Mossel Bay plant
"One out of every three major infrastructure projects in Africa is built by Chinese state-owned enterprises, and one out of every five is financed by a Chinese policy bank," said Paul Nantulya of the Africa Center for Strategic Studies, an academic institution within the US Department of Defense.
"When the countries can't pay the loans, China then takes control over strategic assets of a country." US Treasury Secretary Janet Yellen touted the fruits of a mutually beneficial economic strategy towards Africa, contrasting the damage caused by Russia's invasion of Ukraine and China's practices, during a visit to Senegal in JanuaryIn December 2022, Tanzania signed a $2.2 billion contract with a Chinese company to build the final section of a railway line aimed at linking the country's main port with its western neighbours.
"Countries need to be wary of shiny deals that may be opaque and ultimately fail to actually benefit the people they were purportedly designed to help," Yellen said, alluding to China.- 'Victims' - However, Chinese investments lack transparency compared with those from the West, which face greater scrutiny at home, he added.
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