South Africa gets R8.1 billion from Chinese investment bank to fix poor services, including electricity delivery

[Fuzzbox]

Wonder when the PAYBACK will happen.

The Chinese are colonizing by stealth and no one seems to see it happening.

Look at the rest of AFRICA.

 

[HAL 9000]

 

[WaxLyrical]

Blame the chinese for putting more food in the trough.

 

[qscwbt]

ANC steals R8.1 billion from Chinese investment bank to well just steal​

 

[Mystic Twilight]

Wonder which SA asset is backing this loan. China's method is to give loans and when it is not paid back they take airports/power stations/whatever was used to back the loan.

That isn't really a "china" method, fnb/nedbank/absa/etc (and basically any other financial institution) will also use the "china" method to reposes your assets if you fail to pay back a loan. Just pointing this out.

As long as corrupt self serving politicians run the country, they won't stop selling off [parts of] the country for personal gain. The zuma+gupta relationship comes to mind.

 

[Athos]

The only place that money is going is to BMW sales.

 

[Flanders]

Just a little more in China's pocket - as though they don't know that these born thieves will just do what comes naturally.

 

[longboy]

That money has disappeared before the SWIFT forex transfer even completed...

They use CIPS (Cross-Border Interbank Payment System) from last year now. No more SWIFT - that's a Western thing!

 

[Aessop42]

R8.1 billion from China to fix electricity problems in South Africa's largest cities

Beijing-based Asian Infrastructure Investment Bank (AIIB) has signed an R8.1 billion ($500 million) loan agreement with South Africa to improve the operational performance of the country's largest cities.

The National Treasury of South Africa said that part of the loan was aimed at improving electricity services across the country's eight metropolitan municipalities, which include its major cities.

This time Rama-you-know who and his cronies may drill into a mountain to stash the loot

 

[wingnut771]

Wonder which SA asset is backing this loan. China's method is to give loans and when it is not paid back they take airports/power stations/whatever was used to back the loan.

That used to work until the commoner locals start invading palaces and whatnot.

 

[wingnut771]

They use CIPS (Cross-Border Interbank Payment System) from last year now. No more SWIFT - that's a Western thing!

This is how they get their discounted Iranian Oil. This war has also boosted their solar sales 60% this year.

 

[Binary_Bark]

Squirrel: We got R8.1 billion from China

Reporter: Did I hear that correctly? R8.1 billion

Squirrel: No, R5 Billion

Reporter: And what are you going to do with that

Squirrel: The R10 million we got from China will fix our roads

 

[Sinbad]

Wonder which SA asset is backing this loan. China's method is to give loans and when it is not paid back they take airports/power stations/whatever was used to back the loan.

I had exactly the same thought.

 

[RedViking]

Awesome news for vehicle sales.

 

[Justanotherguybythesea]

Wonder when the PAYBACK will happen.

The Chinese are colonizing by stealth and no one seems to see it happening.

Look at the rest of AFRICA.

The payback terms are designed so that they will reult in a default sooner or later, because the contract was designed that way. Probably the asset used was the entire Gauteng, roads, properties all of it, because that R3 billion was way too much money to worry about the future, they will live it up in Dubai and other extradition harbours. They do forget what was done to those in those countries the USA wanted though, and there will be many motivated here to do the same.