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President Cyril Ramaphosa does not believe Chinese investments in Africa are pushing the continent into a “debt trap”, but are instead part of a mutually beneficial relationship.
Ramaphosa was speaking on the sidelines of a China-Africa summit in Beijing, where delegates from more than 50 African nations gathered this week.
“I don’t necessarily buy the notion that when China [invests], it is with an intention of, in the end, ensuring those countries end up in a debt trap or in a debt crisis,” he said when asked by reporters about China’s pledge at the summit of $51bn (R901.8bn) in new funding for Africa.
In addition to the financial support over three years, China promised to carry out three times as many infrastructure projects across resource-rich Africa, which in recent years has become the focus of intense geopolitical competition between global powers such as China, Europe and the US.
Without providing details, Ramaphosa said SA had reached agreement with China on aspects of its energy security. He said SA could learn from China on reforming its energy sector.
“They already have done exactly what we are seeking to do. So there are lessons for us to learn from China and how to do it,” he said.
Ramaphosa also said SA would look to attract China’s electric vehicle manufacturers including its largest, BYD.
“We had good exchanges with BYD, which has shown a great interest to invest in SA,” he said.
Reuters
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