China cuts loans as Belt and Road Initiative funds could dry up

Since 2013, China’s Belt and Road Initiative (BRI) has helped finance an infrastructure boom in Africa, allowing credit-starved countries to build railways, hydroelectric projects, roads, airports and communications.

The initiative has also led to an increase in Chinese investment in sectors such as manufacturing, mining and agriculture. The program has made Beijing the largest infrastructure donor in Africa.

But a decade from now, some observers say the Belt and Road Initiative could dry up as Beijing becomes more risk-averse and the national economy struggles to return to pre-pandemic growth.

Our guest this week is Kanyi Lui, Partner and China Director at Pinsent Masons. With many years of experience in international/national project financing and Kanyi has provided legal services to a number of Belt and Road projects around the world.

Senegal: companies hope for political stability

Almost every business lost during the political turmoil in Senegal in early June. The loss to the economic output of the West African nation is estimated at $33 million per day.
With President Macky Sall’s announcement that he will not run for re-election next year, businesses are hoping to rebuild and thrive.

Inflation in Nigeria increased in June

Inflation in Nigeria has not decreased since the beginning of 2023. Prices continued to rise in June, after fuel subsidies ended in May.

Inflation has been in double digits in Africa’s largest economy since 2016, eroding savings and incomes.

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