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Is China’s debt diplomacy good for Africa?
FRANCE 24 English
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9/5/2024
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Transcript
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00:00
Trade relations between China and Africa are evolving, but Beijing's debt diplomacy has come in for criticism.
00:06
But even if some African countries are hoping to reboot certain aspects of the relationship,
00:11
they can't yet afford to turn their back on it altogether.
00:14
Bastien Renouy brings us more from Kenya's capital, Nairobi.
00:19
For more than 20 years, Kenya has been borrowing a lot of money to invest on huge infrastructure projects
00:24
that several governments believed will help develop the country
00:28
and will help bring more money in Kenya.
00:30
But now the country is heavily indebted.
00:33
Kenya's debt represents 70 percent of its GDP.
00:37
And when it comes to borrowing, China is a key partner.
00:40
Beijing owns more than 20 percent of Kenya's debt.
00:43
It's more than six billion euros.
00:45
Usually, China lends money to Kenya when it comes to huge infrastructure projects
00:50
where it can send its own companies.
00:53
It was the case for the highway between Mombasa and Nairobi.
00:56
It was the case for Nairobi's highway.
00:58
And every time we can see China's mark on this project,
01:02
we can see many Chinese workers walking around.
01:06
And also the architecture is not Kenyan, it's a Chinese one.
01:08
It's the case for Nairobi's highway.
01:10
Every entrance and exit on this highway are traditional Chinese houses.
01:15
So many here wonder if it's a good idea to rely that much on Chinese money.
01:20
Last year, Kenya had to repay one billion euros loan to China.
01:24
And so many Kenyans are wondering if it's a good idea to use taxpayers' money
01:30
to repay that debt instead of investing directly that money in Kenya
01:34
to improve the life of Kenyans.
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