African Development Bank chief Akinwumi Adesina calls for ending loans tied to Africa's natural resources, citing financial crises and China's mining control.
African Development Bank chief Akinwumi Adesina calls for an end to loans tied to Africa's natural resources, specifically oil and critical minerals used in smartphones and electric car batteries. These loans have reportedly left some African countries in financial crisis and have helped China gain control over mining in places like Congo. Adesina highlights challenges in pricing assets properly, as well as the imbalance of negotiations where lenders often dictate terms.
March 12, 2024
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