Egypt, Nigeria and South Africa, three of Africa’s biggest economies, have agreed new currency swaps with China as the share of trade settled in yuan expands. Kenya has converted dollar-denominated loans into yuan, potentially saving up to $215m a year in interest costs, equivalent to nearly a fifth of its debt-service payments to China in 2025. Around two-thirds of the country’s outstanding debt to China is now denominated in yuan. Ethiopia and Mozambique are negotiating similar arrangements.
New tariffs USA arriving against those countries in 3, 2, 1…
Either that or several military threats.
South Africa? Not a chance.