What Happened: Tanzania's ambassador to China suggested during a visit to Hong Kong that the $10 billion Bagamoyo port project, which according to earlier reports had been canceled, might continue after all, the South China Morning Post reported July 11.
Why It Matters: News of the project's cancellation came amid a broader move toward resource nationalism by the Tanzanian government as it tried to raise revenue as well as increased skepticism of foreign investment projects over financing concerns.
Background: Work on the port, which began in 2018, will likely continue, although it remains possible that both sides will renegotiate crucial aspects of the project.
Read More:
- Tanzania's 'Bulldozer' President Risks Flattening His Country's Reputation and Revenue (March 1, 2019)
- East Africa: Where Ambition Meets Reality (Sept. 16, 2016)
