China’s ambassador to SA dismisses debt trap criticism

The Chinese Ambassador to South Africa, Wu Peng, has dismissed criticism that his country’s involvement in building infrastructure leads to a debt trap among African countries.

He says China gives loans to countries with reasonable repayment terms.

Speaking to the SABC News, Wu said Africa needed more financial injection to develop its infrastructure.

“We don’t push them to use our Chinese loans. What we did in Africa is only under African countries’ request and due to the economic visible research, then provide some loans for infrastructure and other projects in Africa. And you know, the total Chinese loan, the percentage actually is roughly about 10%, not high. So you cannot just blame China for a so-called debt trap. There is no debt trap. In Africa, I believe there is only a trap of lapsed development.”

Meanwhile, business between China and South Africa looks set to grow. The 2024 South Africa-China jobs fair saw over 60 Chinese investor companies operating in South Africa, participate. – Reporting by Bonolo Maribe

VIDEO | The story below reports on the South Africa-China jobs fair held three months ago: