Africa-Press – Namibia. The Namibian government has not taken a loan from China in about eight years.
This was revealed by the Chinese ambassador to Namibia, Zhao Weiping, on Thursday during a media engagement in Windhoek.
During the engagement, the ambassador shared the latest developments in terms of bilateral relations between China and Namibia.
“Namibia has been sensitive about borrowing. They have borrowed over N$1 billion in the past and have always adhered to repaying back,” he said.
He emphasised that China does not extend loans to African countries for favours, but for mutual benefit.
Over the years, the Namibian government has rolled out the welcome mat to Chinese investors in the areas of road construction, railways, infrastructure development and mining.
However, some analysts have raised concern about Namibia being too economically reliant on China.
Last month during the 2024 Summit of the Forum on China-Africa Cooperation in Beijing, president Nangolo Mbumba held meetings with several Chinese multinational enterprises interested in investing in various sectors of the Namibian economy, including infrastructure, manufacturing, mining, tourism, digital technologies and renewable energy.
Mbumba encouraged Chinese companies to “focus on win-win partnerships and mutually beneficial investments”, which he said would contribute to Namibia’s developmental agenda.
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