China is investing heavily in Africa, and East Africa is no exception. In an exclusive interview with me on Tuesday last week, Uganda’s Finance Minister, Mr. Matia Kasaija, discussed billions of dollars of Chinese investment, and opportunities in every sector of the economy for what he hopes will increasingly be American and South Korean investors. For example, Chinese and Indian companies are lead contractors on two major hydropower dams on the Victoria Nile: the 600MW Karuma dam, and the 183MW Isimba dam. China’s EXIM bank financed the dams, which will likely cost $2.7 billion, and Chinese contractors are doing the vast majority of the work. Mr. Kasaija said, “That is quite a bit of money.” ...
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