Will caveats accompany South Korea's loans to Africa?
8 Apr, 2009
For a long time, Japan has been the major donor to Africa; in terms of human resource and loans. But China has emerged as a major force and Republic of Korea is slowly following in the steps.
From Education to Technology, Korea has warmed relations by providing funds to the government of South Africa and the recent $ 10.5 million loan advanced to the Kenyan government to expand the
Technology Development Centre based in Athi River ( about 30 kilometers from Nairobi).
The loan will will help the government implement the Vision 2030 economic blue print and make Kenya the technology hub that it craves to be.
While there is no dispute that South Korea has achieved great success through technology, the country is also seeking a market for its human resource.
With the loan, South Korea will have the right to dictate certain terms; albeit subtly. For instance; how will the government hire western expatriates while South Korea has a surplus of technology experience?
South Korea has followed in the steps of China and Japan by setting up nice eating places and offices. If the Zen Garden place in Lower Kabete (about 7 kms from the city) is anything to go by, South Korea is ready to make its weight felt.
Republic of Korea ambassador to Kenya Han-Gon Lee who was present at the signing of the loan agreement said that national competitiveness during this century would depend on the standard of technology and experienced human resource.
It has been argued that Africa must move from borrowing from the West; because the strings attached are too tight.
But will the East provide better alternatives; will the "development partners" from the East also dictate terms?
- Tech Scene Kenya
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