It's no joke summoning 53 presidents to your office. He must be the most powerful leader ever. Though the good news is that the Africans left the chinaman's palace USD 60B richer.

Also remember, they are the biggest lenders to the US and Russia.

Let them try and take one US or Russian asset like they do to us third world idiots....we see who are the real men LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL

When someone advances you cash without conditions and at very low interest rates, then you are certainly in a better situation. The alternative for africa would have to go to the world bank or IMF and kneel to plead for the cash which would have come with very tough conditions and msomo.

Just like if a friend advances you a 60m soft loan to put up a flat, you are better of than going the bank for the same cash, and you'd be worse off if you fear borrowing from either your friend or the bank, ie if you do nothing. Of course you will be indebted to your friend for some time but will be richer in the long run. Loans make us richer coz they enable us undertake projects that we'd never do even if we saved all our lives.

Never. Loans don't make us richer. We're borrowing money to pay salaries!! and do projects we can do without. Even you as an individual, when things are thick or you lose your job, the first thing is you downgrade, move to a cheaper house, sell the SUV and start walking or using mats.
Africa needs to find ways of increasing trade and adding value to raw materials also need to start manufacturing the cheap goods and toys we get from China etc... Kenya doesn't even take the initiative to get people earning good money in the informal sector into the tax net. Beaten down matatus make a minimum of 4k a day.

Also do you know that china is training hundreds of kenyan students annually at post graduate level in chinese universities? This is akin to the famous US airlift of the 1960s. The USD 60B chinese finance covers not just infrastructure but also other sectors like education.

FYI even the private sector has looked east and firms such as safaricom run on chinese hardware (huawei). So at safcom, our money as shareholders and customers is going to china to service our loans.

The courses they are training Africans aren't of any significant benefit

Chinese President Xi Jinping on Monday pledged $60 billion in financing for projects in Africa in the form of assistance, investment and loans, as China furthers efforts to link the continent's economic prospects to its own.

Speaking to a gathering of African leaders in Beijing, Xi said the figure includes $15 billion in grants, interest-free loans and concessional loans, $20 billion in credit lines, $10 billion for ``development financing'' and $5 billion to buy imports from Africa.


In addition, he said China will encourage companies to invest at least $10 billion in Africa over the next three years.

China's outreach to Africa aims to build trade, investment and political ties with a continent often seen as overlooked by the U.S. and other Western nations. That has provided lucrative opportunities for Chinese businesses, while African nations are often happy to accept China's offers that come without demands for safeguards against corruption, waste and environmental damage.

"China's investment in Africa comes with no political strings attached,'' Xi said. ``China does not interfere in Africa's internal affairs and does not impose its own will on Africa.''

Read more at:
//economictimes.indiatimes.com/articleshow/65659339.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Misguided thinking and lies. China loans are for Chinese enrichment: nothing is cheaper than commercial, and projects are for their benefit, not yours. They are not your friends. See your president here behaving like their employee