Africa received $105.6 billion worth of cryptocurrency
Africa has the smallest cryptocurrency economy of any region we study, having received $105.6 billion worth of cryptocurrency between July 2020 and June 2021
I stumbled upon this post - The Forum on China-Africa Cooperation at 21: Where to Next?, last week and for every piece of each sentence that I read, I feel a kind of toggle in my stomach.
“African countries can negotiate a more equitable role in FOCAC, but this requires a more strategically focused approach, better coordination, and greater accountability to their citizens.” - Africa Centre
Not to dilute it, here are my takeaways:
The Forum on China-Africa Cooperation at 21: Where to Next?
China still benefits more from the relationship than its African partners.
African countries depend on Chinese firms and lenders to finance and build critical export infrastructure.
Yet African firms face significant entry barriers to China’s value-added product markets relative to commodity exports.
African elites harness Chinese largesse to build patronage networks, strengthen their political positions, and maximize self-enrichment. The lack of transparency in these deals is often detrimental to African citizens’ interests.
*One good read on this matter: https://theconversation.com/how-to-negotiate-infrastructure-deals-with-china-four-things-african-governments-need-to-get-right-109116
Samson Omamuzo (LINKEDIN)
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Samson Omamuzo (LinkedIn)