The publication Africa Confidential has revealed that secret talks are underway for a Chinese company to takeover ZESCO. This is yet another instance of Zambia handing over sovereignty to the Chinese, putting us in a dubious position should we default on loans, leaving the Chinese to seize government assets.
In a report titled 'Bonds, bills and ever bigger debts' published on September 3, Africa Confidential observed that ZNBC was already being run by the Chinese.
"A major worry of the IMF and US is that China's BRI strategy is first to encourage indebtedness, and then to take over strategic national assets when debtors default on repayments. The state electricity company ZESCO is already in talks about a takeover by a Chinese company, AC has learned. The state-owned TV and radio news channel ZNBC is already Chinese-owned.