South African President Cyril Ramaphosa has come out in defense of China’s investments in Africa, rejecting the notion that they are designed to trap the continent in debt. Speaking on the sidelines of the ninth Forum on China-Africa Cooperation (FOCAC) Summit in Beijing, Ramaphosa said, “I don’t necessarily buy the notion that when China invests, it is with an intention of ensuring that those countries end up in a debt trap or in a debt crisis.”
Ramaphosa’s comments come as China pledged $51 billion in new funding for Africa over the next three years, with a focus on infrastructure development, industrialization, and trade. The South African President praised the move, saying it was part of a “mutually beneficial relationship” between China and Africa.
“We welcome the investment, we welcome the partnership, and we believe that this partnership will be of great benefit to our continent,” Ramaphosa said.
Ramaphosa also announced that South Africa had reached an agreement with China on energy security, which has been a major challenge for the country in recent years. South Africa has been plagued by rolling power blackouts, constraining economic growth.
The South African President said his country could learn from China’s experience in reforming its energy sector. “They already have done exactly what we are seeking to do. So there are lessons for us to learn from China and how to do it,” he said.
In addition, Ramaphosa said South Africa would seek to attract Chinese electric vehicle manufacturers, including BYD, China’s largest electric vehicle maker. “We had good exchanges with BYD, which has shown a great interest to come and invest in South Africa,” he said.
The FOCAC summit, attended by delegates from over 50 African nations, saw China promise to carry out three times as many infrastructure projects across the continent. The move is seen as part of China’s Belt and Road Initiative, a massive infrastructure development project aimed at connecting China with other parts of Asia, Europe, and Africa.
Ramaphosa’s defense of China’s investments comes as Africa has become a focus of geopolitical competition between global powers like China, Europe, and the United States. Some critics have accused China of using debt to gain influence over African countries, but Ramaphosa said the partnership was based on mutual benefit.
“We are not just recipients of investment, we are also contributors to the growth and development of China,” he said.