AfricaUnion<p><a href="https://mastodon.africa/tags/Adesina" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Adesina</span></a> criticizes <a href="https://mastodon.africa/tags/opaque" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>opaque</span></a> <a href="https://mastodon.africa/tags/loans" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>loans</span></a> linked to <a href="https://mastodon.africa/tags/Africa" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Africa</span></a>'s <a href="https://mastodon.africa/tags/resources" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>resources</span></a> </p><p>The head of the <a href="https://mastodon.africa/tags/African" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>African</span></a> <a href="https://mastodon.africa/tags/Development" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Development</span></a> <a href="https://mastodon.africa/tags/Bank" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bank</span></a> is calling for an end to loans given in exchange for the continent's <a href="https://mastodon.africa/tags/rich" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>rich</span></a> <a href="https://mastodon.africa/tags/oil" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>oil</span></a> <a href="https://mastodon.africa/tags/reserves" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>reserves</span></a> or essential <a href="https://mastodon.africa/tags/minerals" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>minerals</span></a> used in <a href="https://mastodon.africa/tags/smartphones" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>smartphones</span></a> and <a href="https://mastodon.africa/tags/electric" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>electric</span></a> car <a href="https://mastodon.africa/tags/batteries" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>batteries</span></a>.</p><p>This type of <a href="https://mastodon.africa/tags/borrowing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>borrowing</span></a> has plunged many <a href="https://mastodon.africa/tags/African" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>African</span></a> <a href="https://mastodon.africa/tags/countries" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>countries</span></a> into a <a href="https://mastodon.africa/tags/financial" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>financial</span></a> <a href="https://mastodon.africa/tags/crisis" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>crisis</span></a>.</p><p>“They're just bad, first and foremost, because you can't value assets properly,” <a href="https://mastodon.africa/tags/Akinwumi" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Akinwumi</span></a> Adesina said in an interview with The Associated <a href="https://mastodon.africa/tags/Press" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Press</span></a> in <a href="https://mastodon.africa/tags/Lagos" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Lagos</span></a>, <a href="https://mastodon.africa/tags/Nigeria" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Nigeria</span></a>, last week.</p><p> "If you have <a href="https://mastodon.africa/tags/minerals" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>minerals</span></a> or <a href="https://mastodon.africa/tags/oil" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>oil</span></a> under the ground, how do you find a <a href="https://mastodon.africa/tags/price" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>price</span></a> for a long-term <a href="https://mastodon.africa/tags/contract" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>contract</span></a>? It's a challenge," he explains. </p><p>Linking future revenues from <a href="https://mastodon.africa/tags/natural" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>natural</span></a> <a href="https://mastodon.africa/tags/resource" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>resource</span></a> <a href="https://mastodon.africa/tags/exports" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>exports</span></a> to loan <a href="https://mastodon.africa/tags/repayments" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>repayments</span></a> is often presented as a way for recipients to obtain f#inancing for <a href="https://mastodon.africa/tags/infrastructure" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>infrastructure</span></a> <a href="https://mastodon.africa/tags/projects" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>projects</span></a> and for lenders to reduce the <a href="https://mastodon.africa/tags/risk" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>risk</span></a> of not getting their money back.</p><p>The shift to <a href="https://mastodon.africa/tags/renewable" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>renewable</span></a> <a href="https://mastodon.africa/tags/energy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>energy</span></a> and <a href="https://mastodon.africa/tags/electric" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>electric</span></a> <a href="https://mastodon.africa/tags/vehicles" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>vehicles</span></a> has caused a spike in demand for essential minerals, which favors this type of lending. The agreement between <a href="https://mastodon.africa/tags/China" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>China</span></a> and the <a href="https://mastodon.africa/tags/Congo" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Congo</span></a> illustrates this well. Beijing thus exploits the world's largest <a href="https://mastodon.africa/tags/reserves" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>reserves</span></a> of <a href="https://mastodon.africa/tags/cobalt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>cobalt</span></a>, a mineral used to <a href="https://mastodon.africa/tags/manufacture" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>manufacture</span></a> <a href="https://mastodon.africa/tags/lithium" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>lithium</span></a> <a href="https://mastodon.africa/tags/batteries" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>batteries</span></a>.</p><p>French <a href="https://fr.africanews.com/2024/03/12/adesina-critique-les-prets-opaques-lies-aux-ressources-de-lafrique/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">fr.africanews.com/2024/03/12/a</span><span class="invisible">desina-critique-les-prets-opaques-lies-aux-ressources-de-lafrique/</span></a> </p><p>English <a href="https://fr-africanews-com.translate.goog/2024/03/12/adesina-critique-les-prets-opaques-lies-aux-ressources-de-lafrique/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=fr&_x_tr_pto=wapp" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">fr-africanews-com.translate.go</span><span class="invisible">og/2024/03/12/adesina-critique-les-prets-opaques-lies-aux-ressources-de-lafrique/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=fr&_x_tr_pto=wapp</span></a> </p><p><a href="https://mastodon.africa/tags/africa" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>africa</span></a> <a href="https://mastodon.africa/tags/Afrika" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Afrika</span></a> <a href="https://mastodon.africa/tags/afrique" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>afrique</span></a></p>