Angola: China's Risky Gamble in Africa
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  • Written by:

    Dan Mwangi

    As China continues to stamp it’s presence within Africa, there has been continued growth in the fervor of its trade relationship with South African countries in particular. China has recently disbursed $2 billion for infrastructures development in Angola. The State news agency Angop announced the disbursement without disclosing the terms, such as as the interest rates and the repayment period. Although China has had a long running relationship with Angola, the extension of the huge loan transcends expectations but is surely a welcome occurrence for a country that is seeking industrial growth after decades long civil war. The deal, inked in Beijing following President João Lourenço’s visit, is financed by the Chinese Development Bank (CDB). Angola’s major infrastructure development projects include a high voltage electricity link to Huambo, Huila and Namibe provinces and a railway from Benguela Province to neighboring Zambia.
    China is Angola’s second largest trading partner in Africa, after South Africa, and the Asian giant’s role in the southern Africa state since 2004 has been visible, mostly in the reconstruction sector. The Chinese were also reportedly keen to play a key role in the diversification of the Angolan economy. Angola, the home of the near extinct Giant Sable Antelope, is the third biggest market in Sub-Saharan Africa, and one of its fastest growing economies. Situated on the south-western coast of the continent, it is estimated that Angola will overtake Nigeria by 2020 to be sub-Saharan Africa’s leading……Subscribe to Readmore………

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