The boss of Burniton music group, Livingstone Etse Satekla, better known by his stage name Stonebwoy, has released a lot of thoughtful verses in his new song titled ‘Stonebwoy – Black People’.
The song which talks about the Black person losing his identity to low self esteem and years of mental conditioning also hit on leaders for virtually selling Africa’s natural resources for peanuts.
Stonebwoy who called such decisions by our leaders as genocide alluded to Ghana’s selling of its Bauxite reserves in the Atewa Forest to China and the $60Billion loan commitment by China to Africa.
“Sixty Billion for all a the Bauxite, looks like black people nuh have no foresight” the song says.
The song also admonished Black People to open their eyes to know their worth, saying the black person is the best amongst us all.
Ghana’s bauxite deal with China
Ghana signed a USD 10 billion bauxite exploration deal with the Government of China. Under the Memorandum of Understanding (MoU) China has agreed to design and construct a bauxite mine in Ghana.
Also in August 2018, Parliament of Ghana approved a $2 billion Master Project Support Agreement (MPSA) between Ghana and Sinohydro Corporation Limited for construction of priority infrastructure projects.
Under the deal, Sinohydro Group Limited of China will provide $2 billion of infrastructure of government’s choice in exchange for Ghana’s refined bauxite.
Ghana will establish a refinery within the next three years and select its own partner to undertake the refining of the bauxite.
China Commits $60Billion loan to Africa
In late 2018, Chinese President Xi Jinping pledged over USD 60 billion in financing for projects in Africa both in the form of loans and investments. This will include USD 15 billion in grants, interest-free loans and concessional loans, USD20 billion in credit lines, USD10 billion for ‘development financing’ and USD 5 billion to buy imports from Africa. Furthermore, the Chinese Government has indicated it will encourage Chinese companies to invest over USD 10 billion in Africa over the next three years.
🔥 WATCH TRENDING VIDEO 🔥