The Ugandan government has lost its major airport to China for failing to repay a loan.

The government has failed to reverse a loan agreement with the Chinese which had repayment conditions of attaching its only airport.

Entebbe International Airport and other Ugandan assets were attached and agreed to be taken over by Chinese lenders upon arbitration of the loan.

According to reports, President Yoweri Museveni had sent a delegation to Beijing hoping to renegotiate the toxic clauses.

The visit was unsuccessful as China authorities refused to allow any alteration in the original terms of the deal.

The Uganda government, represented by the finance ministry and the Civil Aviation Authority at the time, had on 17 November 2015, signed an agreement with Export-Import Bank of China (Exim Bank) to borrow U$207 million at two per cent upon disbursement; with a maturity period of 20 years including a seven-year grace period

The deal signed with the Chinese lenders virtually means Uganda “surrendered” its most prominent airport to China.

The Uganda Civil Aviation Authority (UCAA) said some provisions in the Financing Agreement expose Entebbe International Airport and other Ugandan assets to be attached and taken over by Chinese lenders upon arbitration in Beijing.

China has rejected pleas by Uganda to renegotiate the toxic clauses of the 2015 loan, leaving Ugandan President Yoweri Museveni’s administration in limbo.

According to the Daily Monitor of Uganda, the Ugandan government waived international immunity in the agreements it signed to secure the loans, exposing Entebbe International Airport to take over without international protection.

Last week, Uganda’s Finance Minister Matia Kasaija apologised to parliament for the “mishandling of the $207 million loans” from the China Exim Bank to expand Entebbe International Airport
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https://www.today.ng/news/africa/china-takes-ugandas-lone-international-airport-failure-repay-loan-400490/amp
Lalasticlala

Soon, Nigeria will be named Xao Africa Chi.

Please come and take over Aso rock,by then we will have it renamed to Axhuio Huork.

Congrats to China they get Ugandas airport and other assets for 200 million dollars. Lol they probably pledged mines and drilling rights to China aswell. No way the big prize is a Ugandan airport.

Kingpee2:
Please come and take over Aso rock,by then we will have it renamed to Axhuio Huork.

chatinent:
Soon, Nigeria will be named Xao Africa Chi.

Shut up enemies of state USA with highest debit profile in the world not annexed talk on Nigeria that have not borrow anything yet. They took over Uganda properties because Uganda broke the agreement. Pending the time government of China will forgive Uganda.

Tinubuadvocate:


Shut up enemies of state USA with highest debit profile in the world not annexed talk on Nigeria that have not borrow anything yet. They took over Uganda properties because Uganda broke the agreement. Pending the time government of China will forgive Uganda.

How much wey Tinubu give you wey you dey vibrate like this?

Enemies of the state? Who wants to be friends with a stateless state?

Place your hand on your head and repeat after me ....

God please give me sense
God please give me sense.

Do this till your memories get back



Gn

chatinent:


How much wey Tinubu give you wey you dey vibrate like this?

Enemies of the state? Who wants to be friends with a stateless state?

Tinubuadvocate:


Shut up enemies of state USA with highest debit profile in the world not annexed talk on Nigeria that have not borrow anything yet. They took over Uganda properties because Uganda broke the agreement. Pending the time government of China will forgive Uganda.

This news is fake...China has not takeover the airport yet

I hope they won't take over some of our projects in the nearest future!

This is another stage of colonization. If China owns as well controls such a national property which is highly dangerous as it can ensure smuggling. China had just successfully limited Uganda's sovereignty! Nigeria government should consider this well

Nigeria which way?!

Our govt should be extremely careful o!! I don’t want to wake up one day and realize that Chinese people have changed my name to Yong Chun Lee o

How would the Chinese enforce the take over if Uganda resisted them? Military action that leads to war?

I don't think the Chinese would want to take that part, but only for last option.

It's well

chatinent:


How much wey Tinubu give you wey you dey vibrate like this?

Enemies of the state? Who wants to be friends with a stateless state?

Period

Soon, Nigerians will wanna christened Xao Africa Chi.

Tinubuadvocate:


Shut up enemies of state USA with highest debit profile in the world not annexed talk on Nigeria that have not borrow anything yet. They took over Uganda properties because Uganda broke the agreement. Pending the time government of China will forgive Uganda.

Is this how you tell your parents shut up at home ?

fineboynl:
How would the Chinese enforce the take over if Uganda resisted them? Military action that leads to war?

I don't think the Chinese would want to take that part, but only for last option.

Nice question that calls for deliberation! Yes, how would China carryout this take-over?

Gradually China will recolonize all of Africa.

I pity Nigeria. I just hope they won't breach the agreement.

MufasaLion:


I pity Nigeria. I just hope they won't breach the agreement.

Tjey will definitely let's be watching

Flamees:

Tjey will definitely let's be watching

That ain't gonna happen to Nigeria. I don't wish it to happen. I hate communism.