The debt crisis in Zambia got a lot worse this week after bondholders refused the government's request for a 6-month repayment delay. Those private creditors said they're frustrated by the government's lack of transparency about the total amount of debt and how much is truly owed to China.In Angola, investors are equally worried about the government's ability to service its debts given, $20.5 billion to China, given that the state-owned oil company Sonangol revealed that last year it generated no profits since all of the money went to pay for debt servicing costs. If Sonangol can't earn enough money to repay the country's loans, then it's effectively impossible for the country to get out of the financial hole it's in.Analysts predict that Zambia and Angola are just the first of a number of African countries that are facing either an outright default or an extended period of uncertainty that risks crippling their economies. Mark Bohlund is closely following the unfolding debt crisis as a senior credit research analyst for REDD Intelligence, a risk assessment service for asset managers. He joins Eric & Cobus from London to talk about the pivotal role that private creditors, specifically bondholders, now occupy in this increasingly grave situation.JOIN THE DISCUSSION:Facebook: www.facebook.com/ChinaAfricaProject Twitter: @ChinaAfrProject Mark Bohlund: LinkedIn | TwitterSUBSCRIBE TO THE CAP'S DAILY EMAIL NEWSLETTER FOR JUST $3 FOR 3 MONTHS.Your subscription supports independent journalism. Subscribers get the following:1. A daily email newsletter of the top China-Africa news.2. Access to the China-Africa Experts Network3. Unlimited access to the CAP's exclusive analysis content on chinaafricaproject.comTry it out for just $3 for 3 months: www.chinaafricaproject.com/subscribe  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.