Ramaphosa Defends Chinese Investments in Africa Amid Debt Trap Concerns

South African President Cyril Ramaphosa refuted claims that Chinese investments in Africa lead to debt traps, describing the relationship as mutually beneficial. The comments were made during the China-Africa summit in Beijing. Meanwhile, South Africa reached an agreement with China on enhancing its energy security amidst ongoing power issues.

South African President Cyril Ramaphosa defended Chinese investments in Africa, suggesting they do not create a 'debt trap,' but rather foster a mutually beneficial relationship. His comments came during the China-Africa summit in Beijing, attended by delegates from over 50 African nations.

'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 said. This statement followed China's pledge of $51 billion in new funding for Africa made at the summit.

In addition, Ramaphosa highlighted South Africa's progress in securing agreements with China to enhance its energy security. Africa's most industrialized economy has been dealing with rolling power outages, hindering its economic growth for years.

(With inputs from agencies.)