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- China loaned African countries $170-billion over 20 years, primarily to develop infrastructure
- The transport sector received R49-billion, some of which was spent on SA’s locomotives
- The biggest portion went to the energy sector, although no new projects have been added since 2020
China committed about $170-billion in loans to African countries between 2000 and 2020. Most of it was to develop infrastructure under the Belt and Road Initiative, a grand plan to connect Asia with Africa and Europe.
About 70% of the money was funnelled to 10 countries, with Angola receiving the most. It spent a third of its $45-billion on Sonangol, the state-owned oil company.
Nearly a third of the loans was directed to the transport sector. The biggest amounts funded railway projects in Kenya, Ethiopia and Nigeria as well as South Africa’s Transnet locomotives.
About $60-billion was spent on energy projects, including the Kusile and Medupi coal power stations.
Chinese loans tapered off during the Covid-19 pandemic and no new energy projects have been added since 2020.
— 4 December, 2023Subscribe to the weekly newsletter for more charts like this
