By IB Kandeh
China’s present two major global entanglement strategies, the Forum on China-Africa Cooperation (FOCAC 2000) and the Belt and Road Initiative (BRI 2013), presents a golden unique opportunity for Africa to propel the continent’s much desired infrastructure development and industralization.
Within the framework of China’s FOCAC and BRI, huge investment capital have been earmarked for Africa. These Chinese global engagement strategies represents crucial supplemental and/or alternative financing opportunity to traditional Western sources for international development cooperation.
But tapping into the Chinese FOCAC-BRI opportunity is largely dependent on the Afrcan nations’ leadership capability and innovation in economic diplomacy. As such only progressive and innovative African goverments can skillfully leverage this opportunity with little or no qualm in navigating the stormy competition among the superpower blocks.
That crafty innovative leadership skills is exactly what Zambia’s president, Mr. Hakainde Hichilema, with his team has just demonstrated by cutting a $2.5 billion development cooperation deal with China during the recent 3 days official visit of the Chinese Priemier, Mr Li Qiang, in Lusaka Zambia.
During the meets in Lusaka Zambia, President Hichilema and his team have restructured Zambia’s $13.4 billion external debts of which China is the largest external creditor. In addition, two major critical strategic infrastructure projects were launched.The TANZARA Rivitalization which cost $1.4 billion is a railway rehabilitation project that connects Zambia’s Copper Belt Region to the Tanzanian Coast, while the Ndhola Oil Refinery that cost $1.1 billion is a special purpose joint venture (China Zambia Petrochemical Corporation) owned by Zambia’s Industrial Development Cooperation & China’s Fujian Xiang Xin Corporation with an annual crude oil processing capacity of three (3) million tonnes per year (60,000 barrels per day).
Both projects are designed to have immense positive impact on the economy of Zambia. TANZARA will ensure cheaper freight and generate new industrial nodes along the route from Zambia to Tanzania. The Ndhola Refinery will ensure energy security and save forex from import substitution or even earn forex from export of refined oil products. Both projects will create jobs from construction to operations stage, enhance national self-sufficiency, and support long term economic growth and prosperity.
Zambia’s TANZARA and Ndhola Refinery Projects etc are the types of win-win tangible development projects that progressive African goverments must pursue for the greater benefits of their populations. The continent nolonger desire sweet titled paradoxical intangible and invincible projects with little or no meaningful results as is the case with World Bank and other traditional Western partner projects. Africa has no need to reject any well-meaning development aid, but such aid must be directed to key strategic strategic sectors like infrastructure and industralization. The continent need ‘true cooperation aid’ but not ‘imperialist domination aid’.
What Zambia (as above) and others around the continent have done or are doing, Sierra Leone can equally or even do better; I am very optimistic. With willingness and commitment, Sierra Leone is capable of exploiting present global opportunities to initiate several bilateral and multilateral infrastructure and industrial development projects as others are doing around the continent. If well managed, even with the Sierra Leone Mines and Minerals Development and Management Corporation (SLMMDMC) the nation can initiate several special purpose joint venture projects with substantial national shareholdings.
Africa must wake up now for the interest and greater benefits of its populations.
Disclaimer:
The views expressed in this commentary are solely those of the author and do not in anyway reflect the opinions or editorial policy of Africa Publicity
