https://en.sputniknews.africa/20240906/south-african-president-ramaphosa-dismisses-claims-of-chinas-debt-trap-in-africa-1068179842.html
South African President Ramaphosa Dismisses Claims of China’s ‘Debt Trap’ in Africa
South African President Ramaphosa Dismisses Claims of China’s ‘Debt Trap’ in Africa
Sputnik Africa
The China-Africa summit, which brought together delegates from more than 50 African nations, focused on expanding economic cooperation and partnerships between... 06.09.2024, Sputnik Africa
2024-09-06T19:13+0200
2024-09-06T19:13+0200
2024-09-06T19:13+0200
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South African President Cyril Ramaphosa has rejected the notion that Chinese investments in Africa are leading the continent into a "debt trap."Speaking on Thursday during the sidelines of the China-Africa summit in Beijing, Ramaphosa affirmed that China’s financial support is part of a mutually beneficial relationship rather than an exploitative strategy.His comments came after China pledged $51 billion in new funding for African nations over the next three years, alongside commitments to triple the number of infrastructure projects across the continent.Ramaphosa’s statement was a direct response to criticisms from some quarters that Chinese financing of large infrastructure projects in Africa might place undue debt burdens on African nations. However, the South African president maintained that the partnership with China has proven to be beneficial for Africa, enabling much-needed infrastructure development and economic growth.However, he also called for a more balanced trade relationship between South Africa and China, noting that the current trade favors the Asian giant, according to local media.
https://en.sputniknews.africa/20240906/china-doesnt-interfere-in-african-affairs-or-dictate-terms-foreign-minister-states-1068173750.html
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South African President Ramaphosa Dismisses Claims of China’s ‘Debt Trap’ in Africa
The China-Africa summit, which brought together delegates from more than 50 African nations, focused on expanding economic cooperation and partnerships between the two regions. Chinese President Xi Jinping reiterated China’s commitment to supporting Africa’s development through infrastructure, trade, and investment.
South African President Cyril Ramaphosa has rejected the notion that Chinese investments in Africa are leading the continent into a "debt trap."
Speaking on Thursday during the sidelines of the
China-Africa summit in Beijing, Ramaphosa
affirmed that China’s financial support is part of a mutually beneficial relationship rather than an exploitative strategy.
"I don’t necessarily buy the notion that when China [invests], it is with the intention of ensuring those countries end up in a debt trap or crisis," Ramaphosa was quoted as saying.
His comments came after China pledged $51 billion in new funding for African nations over the next three years, alongside commitments to triple the number of infrastructure projects across the continent.
Ramaphosa’s statement was a direct response to criticisms from some quarters that Chinese financing of large
infrastructure projects in Africa might place undue debt burdens on African nations. However, the South African president maintained that the partnership with China has proven to be beneficial for Africa, enabling much-needed infrastructure development and economic growth.
“I don’t subscribe and believe the relationship is oppressive, that it is neocolonial. It should be seen as a mutually beneficial relationship that is based on recognition, respect and advancing each county’s own development,” Ramaphosa
stated.However, he also called for a more balanced trade relationship between South Africa and China, noting that the current trade favors the Asian giant, according to local media.
