Audio By Carbonatix
South African President Cyril Ramaphosa said on Thursday that he did not believe Chinese investments in Africa were pushing the continent into a "debt trap" but were instead part of a mutually beneficial relationship.
Ramaphosa made the remarks 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 that those countries end up in a debt trap or in a debt crisis," Ramaphosa said, when asked by reporters about China's pledge at the summit of $51 billion 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 like China, Europe and the United States.
Without providing details, Ramaphosa also said South Africa had reached an agreement with China on aspects of its energy security. He said South Africa could learn from China in 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.
South Africa has been plagued for years by rolling power blackouts that have constrained economic growth.
Ramaphosa also said South Africa 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 come and invest in South Africa," he said.
Latest Stories
-
UHAS halts semester exams over administrative, logistical issues
2 hours -
ECG announces planned maintenance outages in parts of Ashanti Region
2 hours -
Sexual harassment has no place in educational institutions – Education Ministry
2 hours -
The growing culture of vacation classes in Ghana: Should students rest or continue schoolwork?
3 hours -
E.P. Church secures radio frequency, prepares to launch Bremen Radio
3 hours -
Two dead and hundreds evacuated as twin fires break out on Greek island
3 hours -
EPCG clears over GH¢11.7m in debt as outgoing moderator calls for tighter controls on borrowing
3 hours -
Mövenpick Ambassador Hotel Accra marks 15 years of premium hospitality
3 hours -
T-bills auction: Government exceeds target by 88%, interest rates tumble
4 hours -
Western North: Confusion erupts over NPP chairmanship election results
5 hours -
Bawumia congratulates newly elected NPP regional executives
5 hours -
Bawumia urges unity after NPP regional elections ahead of 2028
5 hours -
Russia says at least seven killed in largest Ukrainian attack of 2026
5 hours -
Ghana and Netherlands sign pact to combat illicit drugs and drug markets
5 hours -
Akandoh warns Boards against interfering in day-to-day management of health institutions
5 hours