The Center for Naval Analyses published in December 2023 a major report titled "PRC Lending in Africa: Impacts in a Time of Global Shocks" by Timothy Ditter, Pamela Faber, Kaia Haney, Tsun-Kai Tsai, and Benjamin DeThomas.
The report identifies trends and effects of China's loan practices in nine African countries after the economic shock of the COVID-19 pandemic and the Russia-Ukraine war. The nine countries are Angola, Chad, Djibouti, Ethiopia, Ghana, Kenya, Nigeria, Uganda, and Zambia.
The study concluded that China's lending practices are characterized by opaque and problematic loan terms and that its behavior has rendered fragile economies at risk of default. Post-pandemic shocks to the global financial system have significantly reduced China's lending across Africa and its investment model has shown inherent flaws that create risk for African countries.
