Since nearly three decades of civil war ended in 2002, Angola has been relying heavily on China – its key financier of post-war infrastructure – to help the southern African country’s government deliver on its promise of a million new homes.
When the West was unwilling to finance its projects, Luanda secured loans from Chinese state banks under the so-called Angolan model, using its oil as collateral.
Angola became the largest recipient of Chinese financing in Africa, attracting 270 loans worth…