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China not dishing out loans to SA - Nene

Finance Minister Nhlanhla Nene says the agreements reached with China are made up of a mixture of loans and foreign direct investment.

FILE: Nhlanhla Nene. Picture: GCIS.

JOHANNESBURG - Finance Minister Nhlanhla Nene has rejected the notion that China is dishing out loans to South Africa which is standing by with a begging bowl.

Speaking on the sidelines of the BRICS Business Forum in Sandton on Wednesday, Nene said the South African government is building a strategic partnership with the Chinese.

His comments come just days after Beijing announced its investing close to R200 billion in South Africa.

The Finance Minister says the agreements reached with China are made up of a mixture of loans and foreign direct investment.

Nene says there’s been a good reception to the call for investment in South Africa, but the commitments will have to be followed through.

“We had a very good reception, but the taste is in the action that follows after that.”

Nene is one of the many Cabinet ministers attending Wednesday afternoon’s session of the BRICS Business Forum presidential session to be addressed by four heads of state.

(Edited by Winnie Theletsane)

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