Burkina Faso's gold industry is set to decline, says the CEO of West African Resources. Boukary Diallo has attributed the downfall to militant ... attacks that have intensified this year as well as Russia's Nordgold shutting the Taparko mine in April.
This will be a deviation from the dolling out of infrastructure funds that China has been known for in the past decade, reaffirming its commitment to change lending policy in Africa and cut investment projects.
China will be looking at countries’ pending debt payments before clearing any more loans to African states, which have increasingly been indebted in recent years.
“We are willing to listen, discuss and improve cooperation as equal partners […] The Chinese may fit in some programmes so going forward the priority of our cooperation will be decided by two sides involved,” Chinese Ambassador to Kenya Zhou Pingjiang said in a recent press conference in Nairobi.