Tanzania President John Magufuli has cancelled a Chinese loan worth $10 billion signed by his predecessor Jakaya Kikwete to construct a port at Mbegani creek in Bagamoyo over terms and conditions that, he said, beat the logic. Magufuli said that the terms of the Chinese loan agreement could only be accepted by a drunken man.

His predecessor, Jakaya Kikwete had signed the deal with Chinese investors to build the port on condition that they will get 30 years to guarantee on the loan and 99 years uninterrupted lease, according to local media reports.

Another shocking demand made by the Chinese and accepted by Kikwete administration was that the Tanzanian government will have absolutely no power to raise concerns on whoever invests in the port during that period.

Dubbed as the "killer Chinese loan", several organisations and African citizens had demanded the then President to cancle the agreement. They had warned that the move will have dire consequences but their concerns were overlooked and the deal was signed.

However, after coming to power, President Magufuli initiated the renegotiation process and pressed the investors to bring down the lease period to 33 years instead of 99 years signed by the previous government.

Magufuli administration also made it clear that there will be no tax or utility exemption for the Chinese investors and they will need government approval to start new operations at the port. However, the investors didn't meet the deadline issued by the Magufuli government, hence, the agreement got cancelled.

CHINA'S DEBT TRAP

China has often been accused of luring the poor African countries in its debt-trap by providing them loans for much-needed infrastructure projects and then control them when they fail to pay off their debts.

Recently, the Kenyan government had also raised the issue that China was planning to take over one of the country's key seaports after the African country failed to clear its debts. Bejing also got Sri Lanka's Hambantota port on the lease after the island nation failed to clear part of a massive loan.


Source: https://www.ibtimes.co.in/only-drunkard-would-accept-these-terms-tanzania-president-cancels-killer-chinese-loan-worth-10-818225

wise man, pls wen u are done with Tanzania come to Nigeria we need u

cc:Mynd44, cc:Seun, cc:lalasticlala, cc:Dominique.

Righteousness89:
If you Have Followed Mr. John Magufuli, you will agree with Me that He is an Uncommon African leader with Distinct Leadership Qualities not Just in this but at Various times...

Tanzania Has Never gone on Lockdown...

He Personally Went on Prayers to seek GOD'S Face on the Pandemic..

In his Words " Churches will not be locked down! The Answer to the Pandemic will come from the Church"

He Told his People to Repent and Depart from Sin. He said to them that these are days like Sodom and Gomorrah and that people should Repent and Accept JESUS so as to be Saved in these times.

Tanzania has seen people Recover Strangely and Miraculously..



John Magufuli is The Leader of the Century!!

Please put on the religion section for others to read too

He may be a good leader economically, but praising him because he encouraged prayers against a pandemic is foolishness.
Tanzania has just been lucky.

Righteousness89:
If you Have Followed Mr. John Magufuli, you will agree with Me that He is an Uncommon African leader with Distinct Leadership Qualities not Just in this but at Various times...

Tanzania Has Never gone on Lockdown...

He Personally Went on Prayers to seek GOD'S Face on the Pandemic..

In his Words " Churches will not be locked down! The Answer to the Pandemic will come from the Church"

He Told his People to Repent and Depart from Sin. He said to them that these are days like Sodom and Gomorrah and that people should Repent and Accept JESUS so as to be Saved in these times.

Tanzania has seen people Recover Strangely and Miraculously..



John Magufuli is The Leader of the Century!!

[s]

Trunaijian:
He may be a good leader economically, but praising him because he encouraged prayers against a pandemic is foolishness.
Tanzania has just been lucky.

[/s]

If what he did is what you call lucky , Then I better be lucky!!


It's takes A Man of Uncommon Wisdom to do what President John Magufuli did..

" GOD is no Respecter of Persons! Those that Honor HIM , He Honors"

Righteousness89:
If you Have Followed Mr. John Magufuli, you will agree with Me that He is an Uncommon African leader with Distinct Leadership Qualities not Just in this but at Various times...

Tanzania Has Never gone on Lockdown...

He Personally Went on Prayers to seek GOD'S Face on the Pandemic..

In his Words " Churches will not be locked down! The Answer to the Pandemic will come from the Church"

He Told his People to Repent and Depart from Sin. He said to them that these are days like Sodom and Gomorrah and that people should Repent and Accept JESUS so as to be Saved in these times.

Tanzania has seen people Recover Strangely and Miraculously..



John Magufuli is The Leader of the Century!!

Even Israel your do called God's only beloved country is currently on lockdown. USA, your God's own country is on lockdown. The Vatican where your Jesus and Holy Mary live is on lockdown. Mecca, Medina and the Holy Kabba are on lockdown. You are now talking about Tanzania

Use your head, to whom brain is given, sense is expected.

Your i.d. already pints to the type of mumu you are. Righteousness my foot.

[s]

Corporate2020:


Even Israel your do called God's only beloved country is currently on lockdown. USA, your God's own country is on lockdown. The Vatican where your Jesus and Holy Mary live is on lockdown. Mecca, Medina and the Holy Kabba are on lockdown. You are now talking about Tanzania

Use your head, to whom brain is given, sense is expected.

[/s]

You Reasoning seems to be on Reverse Mode Sir!

Ask yourself this Question ? With all the Technological powers, Funds and all that, what was the Result?

GOD ALMIGHTY is No Respecter of Persons! When you Honor GOD, He Honors you!

Be Not Wise in your Own Eyes! Fear the LORD and Depart From Evil!

Trust in the Lord with ALL thy Heart and lean not unto your own understanding!In all thy Ways , Acknowledge Me, and I will Direct your Path!


President John Magufuli has Shown the World how to things ought to be Done!!


HE is The LEADER OF THE CENTURY!!

Righteousness89:
[s][/s]

If what he did is what you call lucky , Then I better be lucky!!


It's takes A Man of Uncommon Wisdom to do what President John Magufuli did..

" GOD is no Respecter of Persons! Those that Honor HIM , He Honors"

Nonsense. He isn’t special. So all the priests and imams that have dies are satan’s children?
Don’t wash your hands and adhere to preventive measure and see what will happen.
God helps those who help themselves.
Be there quoting Bible.

[s]

Trunaijian:

Nonsense. He isn’t special. So all the priests and imams that have dies are satan’s children?
Don’t wash your hands and adhere to preventive measure and see what will happen.
God helps those who help themselves.
Be there quoting Bible.

[/s]