Mnangagwa pins hopes on China

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By Staff Reporter

PRESIDENT Emmerson Mnangagwa has set his sights on benefiting from China’s benevolence to Africa, arguing that there was no need to change a winning formula.

The Zimbabwean leader is among more that 50 African leaders attending the 7th Forum on China-Africa Cooperation (FOCAC), currently underway in Beijing.

Mnangagwa in an interview with Xinhua news agency before departure said Zimbabwe was hoping to benefit from China’s largesse.

“We have several projects (that) we have put forward and, this time around, we hope we will be able to put bankable projects which meet the criteria for assessment by China,” said Mnangagwa.

The Beijing summit, will also discuss cooperation under the Belt and Road Initiative (BRI) proposed by Chinese President Xi Jinping in 2013 and Mnangagwa was upbeat about it as well.

“We in Zimbabwe are committed to the BRI and we do not want Zimbabwe to be left behind because we want to get linked to global markets and the global economy,” said the President.

“There is no need to reinvent the wheel when other countries have passed through the same road.”

Malaysia recently cancelled Chinese-financed projects worth more than $20 billion, arguing they were unnecessary and would create an unsustainable debt.

In 2015 China pledged another $60 billion which the country’s leader, President Xi Jinping said had been disbursed.