Africa’s external debt to China between 2006 to 2017 is $132 million which represent 20% of Africa’s external debt, 35% owed to multilateral institutions like World Bank and 32% to private lenders. The west feels Africa’s debt to China is overwhelming and burdensome to the continent. Total external debt of Africa to IMF, World Bank, China and Private lenders is a whooping $417 million which is almost 50% of the continent’s GDP.
The United States and other Western countries are not so enthused about the idea of Chinese government granting huge loans to the African economy. My point is why will they be happy when they have over the years used loans and aids to manipulate our continent? Now that they see China taking grounds and amassing magnificent influence in Africa, they are now complaining.
One very good reason I prefer to deal with the Chinese government rather than these Western countries is they have not in anyway expressed interest in our politics or governance. To the Chinese people it’s purely business on African soil. In any part of the world I am yet to see China meddle in the local politics of any nation.
They do not cause wars in countries so they can take over their natural resources like what was done to Lybia. Now the country is impovrished. The reason the West is afraid of Chinese influence in Africa is because they feel they are loosing their grip over the continent. Chinese people are fast and they will over take the Western world in Africa and I pray it to be so.
The West have used Africa for too long and making us an apology to development. The loans they give us comes with so much control over our economies that in the end the loans does not even benefit our continent.
I agree with the Chinese government on the argument that, their invlovement in Africa is of mutual benefit to both they and us on the grounds that China is like any other Western country granting loans to Africa. China has successfully transformed it’s economy and seeking foreign partnership by establishing it’s base accross the African continent for which Ghana is part. This is something Dr. Kwame Nkrumah should have done first for Ghana before thinking of the whole of Africa but he thought himself, God, having not removed the beam in Ghana’s eye, he sought to liberate the whole of the African continent, using Ghana money to try to develop Guinea where he later became co-president after his over throw in 1966.
Which nation apart from Israel did God himself try to secure? Yet, Nkrumah thought he could save the whole of Africa when he should be focusing on Ghana’s development. I am happy he was over thrown. Such over ambition is what has caused massive suffering up till today. He Nkrumah himself was ousted when the economy of Ghana was then in shambles. Trade was on the down side and what is happening in Ghana today was even worse under Nkrumah by then. Anyone with proper knowledge of history will tell you this truth. There was massive industralisation and development under Nkrumah but we equally suffered untold economic hardship under his leadership. At a point Ghana was left with nothing in government coffers because he went challenging the whites and they placed lots of restraints on our trading with them. The Cedi started depreciating, there was massive fall in the price of cocoa due to low patronage, fuel prices the same etc. CPP Nkrumah’s government also caused alot of suffering for Ghanaians.
Back to my earlier submissions on Chinese involvement on African soil. I see nothing wrong with China’s involvement in the continent of Africa but I prefer their direct investment in the economy than giving African countries loans. I mean they should come and open businesses and factories here, employ our people, make profit and pay tax to our government. In doing this they should also consider their corporate social responsibility to Africa. The $50 billion loan for 100 years H.E Akuffo is bidding for should not be given to him as corruption will take half of that money before it becomes useful to Ghana. They should rather come and open companies and factories here and employ our youth. Our governments are irresponsible and you cannot trust them with loans or money for that matter.
We need China to invest in areas like Agriculture, Information Technology, Civil Engineering, Education, Health, Financial Sector etc. We would love to have Chinese banks in Africa where the citizens can borrow to enhance their business and livelihood than given the whole huge amount to our corrupt governments.
For those who say China wants to enslave Africa through debt, my very simple response to them is, which country in Africa did China colonise? The answer is zero. China has not colonised any African country neither were they involved in the slave trade, therefore that argument should be shelved. If anything at all it is the West that has enslaved us for all these years and taken all our resources to enrich themselves. They took our forefathers slaves to build their economies, may the Almighty God punish them. May God enrich China so we’ll to take over all their influence in Africa and the world all over.
Ivory Coast still pays rent on their airport to the French government. The French government earns almost the same amount of $400 billion ( I read somewhere) in rent and other charges on their properties here in Africa soil even now on yearly basis. This same amount represent the total external debt of Africa. You can see how clearly the whites can sometimes be wicked. How can we pay rent on our own soil to France that is in Europe? Very unfair. If you don’t do it they topple your government like they did to Lauren Gbagbo to bring in Outarra. Now Outarra is licking their boots so they have non problem with him.
Well life they say is full of inequalities because in Kasoa Liberia refugees are selling Ghanaian lands to Ghanaians. What an irony or a paradoxical situation. How can a refugee sell land to the indigen of a country? Yet this is what is happening, French government taking charges on properties on African soil. And now they say what? China should not give loans to African countries or do business here? They are jokers, group of masquerades.
I don’t think China is exploiting Africa in any way, they are only spreading their global influence and doing business. Because China is getting more grips over Africa the West is now jealous and wants to use some clauses and principles to criticize them.
We whole heartedly accept China as development partners in Africa as the West has substantially betrayed us and calling us a scar on the World’s continents. We welcome Chinese initiatives into African soil.
That said some illegal activities of China needs also to be controlled by African government in the area of mining, gambling, human trafficking, drugs , prostitution and parmaceuticals. In Ghana, Chinese people are engaged in a whole lot of illegal mining and manufacturing of fake drugs on our markets. Chinese people are very clever and good at imitation, this is something our leaders need to put stringent laws and controls in place to regulate their activities on our soil.
I believe China is here to stay and although their motive may be to milk the continent, if we are wise we can beat them to their game. We can get them to come here to do business with us and rather devise ways and means to over take their investment. There is nothing like fair business. Let them come here and teach us what they know then we outwit them with their own knowledge.
I believe that China is Africa’s greatest development partners because their population exceeds the whole of the African continent and yet they have managed to succeed, a whooping 1.2 billion people compared to Africa of around a billion people all countries combined. Let’s shun the West yet not entirely and focus more on China for development.
Long life, peace and prosperity for the corporation between Africans and the Chinese government. It is well.