Fw: {UAH} Allan/Edmund/Gwokto/Gook/Pojim/WBK: The Bulldozer at work! Magufuli decries unbearable Chinese loan conditions, terms them only suitable for "mad people"

Ocen;

This is true nationalism. Kudos to JPM!

I hear this is the same reason recently Kenya refused to enter into loan negotiations in Beijing for the Naivasha to Kisumu SGR!

Edmund

----- Forwarded Message -----

From: Moses Nekyon <musanap@gmail.com>

To: "ugandans-at-heart@googlegroups.com" <ugandans-at-heart@googlegroups.com>

Sent: Saturday, June 15, 2019, 2:07:22 PM GMT+3

Subject: {UAH} Allan/Edmund/Gwokto/Gook/Pojim/WBK: The Bulldozer at work! Magufuli decries unbearable Chinese loan conditions, terms them only suitable for "mad people"

Author: Erick Kombo Ndubi

UPDATED: 3 HOURS AGO

VIEWS: 5342

Category: Local News

   

   

- The deal for construction of Bagamoyo port was signed in 2013 by former president Jakaya Kikwete

- After his election, Magufuli started renegotiating construction of the port which led to it's delay

- He said the terms and conditions for the loan were too tough and amounted to selling Tanzania to China

Tanzania President John Pombe Magufuli has opposed a KSh 1 trillion loan from a Chinese company over tough conditions imposed on them by the investor.

In 2013, Tanzania signed a framework agreement with China Merchants Holdings International, China's largest port operator, to build a port in Bagamoyo and a special economic zone to transform the country into a regional trade and transport hub.

READ ALSO: Murang'a Woman Rep Sabina Chege breaks down in tears after crowd boos her

Tanzania President John Pombe Magufuli speaking to the press during a past function. Photo: Standard

Source: UGC

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The deal was signed by Magufuli's predecessor Jakaya Kikwete during a visit of Chinese President Xi Jinping to the country.

It was also financially backed by Oman's State General Reserve Fund.

The groundbreaking of the project took place in 2015, but, Magufuli's government set to renegotiate the terms and conditions with the investors.

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In May 2019, Tanzania MPs raised questions on the stalled project with many accusing the government of sabotaging development programmes in the country.

READ ALSO: Governor Mike Sonko declares he is HIV negative in court papers

However, the Head of State responded to the MPs saying the conditions that were given by the financier were too tough and amounted to selling their country to China.

"Those investors are coming with tough conditions that can only be accepted by mad people. The investor told us once they build the port, there should be no any other port to be constructed all the way from Tanga to Mtwara south," said Magufuli.

He said the investor company wanted the government not to collect revenue from Bagamoyo once its construct the port.

Lord Abraham Mutai

✔

@ItsMutai

Here is Tanzania President dismissing China's loan of $10billion with conditions almost similar to what Kenya was given on SGR Jubilee blindly bought into it. Live long Magufuli. Today you defeated the enemy. Shame on you GOVERNMENT OF THE REPUBLIC OF KENYA. message Ifikie Uhuru

2,268

1:38 PM - Jun 14, 2019

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READ ALSO: Baby born on train to get 25 years of free rail travel

"They want us to give them a guarantee of 33 years and a lease of 99 years, and we should not question whoever comes to invest there once the port is operational. They want to take the land as their own but we have to compensate them for drilling construction of that port.

"I am speaking this because, we as Tanzanians should be changing for we have been played for long," he said.

Magufuli's sentiments came amid rising concerns among Kenyans over funding of the Standard Gauge Railway by China's Exim Bank.

Lord Abraham Mutai

✔

@ItsMutai

Tanzanian President called a Press conference and laid before the republic of Tanzania the secret contract between Tanzania and China on the port of Bagamoyo. But Kenya's agreement with China in SGR is top secret because our own Government officials are accomplices. Shame on you.

787

1:48 PM - Jun 14, 2019

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