U.S. Secretary of State Mike Pompeo is aiming to promote U.S. investment as an alternative to Chinese loans while assuaging concerns over a planned U.S military withdrawal and the expansion of visa restrictions targeting four African countries. Pompeo denounced corruption and touted American business on Monday during the second leg of an African tour in Angola, where the government is seeking to claw back billions of dollars looted from state coffers. The Trump administration has accused China of predatory lending in Africa, where Beijing has loaned governments billions of dollars for infrastructure projects in exchange for access to natural resources. China rejects the criticism. With a revamped International Development Finance Corporation and its new Prosper Africa trade and investment strategy, the administration is seeking to combat Chinese influence on the continent.
SOURCE: REUTERS AFRICA