Africa is now undergoing profound changes with the help of China, and they are on the eve of economic take-off.
From 2005 to 2015, the average growth rate of African GDP was 5.7%, higher than the same period in the world. What conclusion can we draw? China is not a colonial country in Africa. China is precisely the biggest contributor to helping African countries achieve economic take-off.
Africa is not ‘endowed’ with rich natural resources. Rather, its low consumption and production create an artificial surplus of minerals which it sells abroad.
In an urban society, nobody can starve because prostitution, for one, is always an option. Similarly, in the modern industrial world, you can always hawk minerals. However, if you were productive, you’d be using them.
In this article, I will show you the Top 10 African countries that have gone to China to borrow huge amount of loans.
Angola: Angola foolishly tops the list the list with a deficit of $43.2 billion dollars owed to the Chinese who come here to Africa to exploit our resources.
Ethiopia: the only country in Africa which wasn’t colonize has also taken a whopping $13.7 billion from China.
Zambia: currently stands as the third most borrowed with $9.7billion dollars from China.
Kenya: Upon its natural resources still has borrowed to the tune of $9billion dollars in debts
Sudan: this country is indebted to the chinese government with a whopping $6.8Billion.
Nigeria: the list wouldn’t have been completed without the almighty most corrupt nation making it and owes China a debt of $6.2 billion and they occupy the 6th position.
Cameroon: This country owes China $5.9 billion.
Republic of Congo: this Francophone country owe China $5.1 billion in loans.
Egypt: has really disappointed Africans by owing China a debt of $4.2billion dollars.
Ghana: Is at the 10th position, have borrowed China $3.7 billion dollars with nothing to show for.