CHINA’S BILLIONS-WORTH INVESTMENT DEAL WITH S. AFRICA




Mustafa AY – TDO – 25.07.2018 On Tuesday, Chinese President Xi Jinping paid official visit to South Africa after his visits to Senegal and Rwanda within Africa tour. Chinese leader Jinping was welcomed by his S. African counterpart Cyril Ramaphosa in Pretoria -S. Africa’s administrative capital city-. Both leader discussed concerning economic and trade affairs between the countries. S. African leader Ramaphosa stated that they are dedicated to reinforce the bilateral relations between two countries.

Chinese President Xi Jinping reached a couple of trade deals with his S. African counterpart. Within the context of trade agreements, China pledged to flow many investments worth 14 billion dollars into South Africa. In addition to this, China will yield 2.5 billion dollars loan to S. African energy giant Eskom, which is currently struggling with colossal debt.