Mega-projects financed by China in Africa: between hopes and disappointments
In recent years, infrastructure projects financed by China in Africa have aroused both the optimism of the populations and the skepticism of some. Dubbed the “New Silk Roads”, these initiatives aim to strengthen economic ties between China and the African continent. However, their real effectiveness and the benefits they have brought to partner countries remain subject to debate.
An example of such projects is the Nairobi-Mombasa railway line in Kenya. Launched in 2017, this line, financed to the tune of 3.2 billion dollars by a loan from Beijing, presents itself as the largest Chinese project in the country. It connects the Kenyan capital to the port city of Mombasa in just five to six hours by train, compared to twelve hours previously. Travelers appreciate this improvement, which makes it easier to get around and reduces travel times.
However, despite these advantages, some experts point out that the benefits of these projects do not always live up to expectations. In Kenya, for example, there have been regular criticisms of the development of the Port of Mombasa and the Nairobi-Mombasa railway line. Problems of corruption and mismanagement have marred these projects, raising questions about their true impact on the country’s economic development.
In addition, the question of repayment of Chinese loans also arises. Partner countries often find themselves faced with heavy debt, which limits their ability to invest in other priority sectors of their economy. In Kenya, for example, 60% of state revenues are allocated to debt repayment, which represents a considerable burden on public finances.
In Zambia, the massive recourse to borrowing from China has also had adverse consequences. The country now finds itself with a colossal debt, half of which is held by China. In 2020, in the midst of the Covid-19 pandemic, the Zambian authorities were even forced to declare a default on their debt.
These examples highlight the limitations and risks associated with Chinese-funded projects in Africa. While they may offer immediate infrastructure improvements, their cost-effectiveness and long-term impact on the economic development of partner countries remains uncertain.
It is therefore essential to rethink these partnerships and demand greater transparency and a rigorous evaluation of their profitability and socio-economic impact. African countries must also diversify their sources of financing and rely on balanced and mutually beneficial partnerships. Only in this way will they be able to really benefit from these infrastructure projects and ensure sustainable development for their country.