Friday, April 4, 2025

Uganda Paying Back $1.4bn Chinese Loan for Incomplete Dam

Uganda is reported to have started paying back a $1.44bn loan to China. This is quite safening because the flagship 600MW Karuma hydropower project that the government is paying for is not finished. Researchers have said that Uganda is responsible for the mess it finds itself enmeshed in right now.

This hydropower dam, the Karuma hydroelectric power dam, situated on River Nile, sits 270 miles north of the capital city Kampala.

READ MORE: Alarming Signs as Global Food Import Bill Rising to Nearly US$2 Trillion Owing to Higher Prices

This 600MW project is, hyperbolically, a symbol of the China-Uganda partnership, which is yet to bear any fruits.

Such simingly phantom, white-elephant projects are very commonplace across the continent of Africa, and this has become a very worrisome development to come to terms with in recent times.

Hot this week

WAG Urges Women To Strategise For Greater Representation In Governance

Founder Women Aligned for Growth (WAG), Dr. Ifeyinwa Nwakwesi...

Stark Pages Initiative Launches Literary Students Program to Inspire Young Writers

The Stark Pages Creative and Literary Arts Initiative, a...

Ozoya Football Foundation Kicks Off a New Era with Charitable Initiative in Edo State

The Ozoya Football Foundation is making waves in Nigerian...

After Two Years of War, Sudan’s Military Secures Key Victory in Khartoum

Sudan’s military has recaptured the Republican Palace in the...

29 Internet Fraudsters Jailed in Benin as Nigeria Deepens Cybercrime Crackdown

Justice has caught up with 29 internet fraudsters in...

Fuel Prices Set to Rise in Nigeria as Dangote Refinery Halts Naira Sales

Nigerians could soon face higher fuel prices after the...

Related Articles

Popular Categories