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Trump admin loans $100 million to US-owned business in Africa to stave off China

News Snapshot:

In a bid to expand the American technology footprint across Africa and counter Chinese market dominance, the Trump administration has issued a $99.6 million loan to Africell, the continent’s sole U.S.-owned mobile network operator. The financial backing, provided by the U.S. Export-Import Bank, was confirmed by the company on Friday.Africell said that the funding will "boost U.S.-based employment in the telecommunications sector and strengthen American technology leadership abroad." The company plans to direct the capital specifically toward American and European equipment for its network in the southern African nation of Angola. Beyond Angola, Africell maintains operations in Congo, Sierra Leone,…

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