South African President Cyril Ramaphosa has dismissed claims that Chinese investments are driving Africa into a “debt trap,” instead framing the relationship as one of mutual benefit. His comments came during the China-Africa summit in Beijing, where representatives from over 50 African countries convened.
Speaking to reporters, Ramaphosa expressed skepticism about the notion that China’s investments are aimed at ensnaring African nations in debt crises. “I don’t necessarily buy the idea that China’s investments are intended to place these countries into a debt trap,” he stated. He highlighted that China’s approach could serve as a model for other nations. “They have already achieved what we are striving for, and there are valuable lessons for us in how they have managed their investments,” he added.
At the summit, China pledged $51 billion in new funding for Africa, reflecting its continued commitment to the continent’s development. South Africa, which has faced persistent power outages affecting economic growth, is also seeking to bolster its ties with Chinese electric vehicle manufacturers. Ramaphosa noted positive discussions with BYD, China’s leading electric vehicle producer, which has shown strong interest in investing in South Africa.
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