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Report: China Plans to Take Over Zambia’s Electric Company After Loan Default

African media buzzed with reports this week that China plans to take over Zambia’s national power company, ZESCO, and has already taken control of national broadcaster ZNBC. In essence, Beijing is repossessing chunks of the Zambian state because it cannot repay the gigantic loans it took out from China.

Zambia’s President Edgar Lungu, left, shakes hands with China’s President Xi Jinping, prior to their bilateral meeting at the Great Hall of the People, in Beijing, China, Sept. 1, 2018. Some are expressing concerns that Beijing is pursuing debt-trap diplomacy vis-a-vis African countries.