China Eximbank provides RMB 80 million loan to support the establishment of Congo-Chine Télécom

On December 14, 2000, the Export-Import Bank of China signed a RMB 80 million concessional loan agreement with the Ministry of Finance of the Democratic Republic of Congo. The proceeds from this loan were used to support the creation of joint venture between ZTE and the Congolese Office of Post Telecommunications (OCPT) in Kinshasa, called China-Congo Telecom (CCT) or Congo-China Telecom S.A.R.L. (CCT) (Chinese name: 刚中电讯有限公司). ZTE held a 51% equity stake in the joint venture, and OCPT held a 49% equity stake. Most of the loan proceeds were used to acquire equipment from ZTE.Then, on October 20, 2011, France Telecom-Orange announced they had purchased 100% of CCT from ZTE and the OCPT for $17 million USD (with $10 million USD going to ZTE and $7 million going to OCPT). Other reports indicate that on October 21, 2011, ZTE sold its 51% equity stake in CCT to Pan Communication Investments and Atlas International Investments (both of which are wholly-owned subsidiaries of France Telecom) and that the transfer of equity ownership was completed on the same date. According to the Aid Management Platform (AMP) of the Government of the Democratic Republic of Congo, China Eximbank committed $9,664,765.67 for this project and disbursed $9,665,149.43.

Additional details

The French project title is Création d'une entreprise des capitaux mixtes CCT.

Number of official sources

7

Number of unofficial sources

11