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South Africa: BRICS countries urged to reject go-it-alone trade

The 10th annual BRICS Summit has officially kicked off on Wednesday as leaders of Brazil, Russia, India, China and South Africa gathered in Johannesburg for their annual meeting. This year’s summit is themed “BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the 4th Industrial Revolution”. According to organizers, about 1,000 delegates deliberated […]

BRICS bank Okays $600 mln loans for South Africa, China

The BRICS Development Bank has approved loans of $300 million for energy projects in South Africa and $300 million for a transportation project in China. The BRICS group established in 2006 by five major emerging national economies – Brazil, Russia, India, China and South Africa – aims to enhance cooperation between member countries and also […]

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Rwanda inks $300 million loan deals & bilateral pacts with China, India

The Rwandan government has signed seven bilateral pacts and loan agreements worth more than $300 million with China and India to further boost existing cooperation. The Chinese loan, destined to build two roads and carry out irrigation projects, was extended during the Chinese President Xi Jinping’s visit to Rwanda Sunday and Monday. For the past […]

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Chinese President Xi Jinping seeks deeper economic ties with Senegal

Chinese President Xi Jinping arrived in Africa on Saturday for a four-nation visit during which he will be seeking deeper military and economic ties. It is the first overseas trip of Xi’s second term as president. In Senegal, the first leg of his Africa tour that will also take him to Rwanda and South Africa, […]

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Nigeria: Beijing-based Oil Company to invest $3 bln in oilfield operations

China National Offshore Oil Corp (CNOOC) has pledged to invest about $3billion in its existing oil and gas operations in Nigeria, the Nigerian National Petroleum Corporation (NNPC) stated on Sunday. Yuan Guangyu, the Chief Executive Officer of the Beijing-based Corporation, made the pledge when he led a team of CNOOC top executives on a visit […]

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Djibouti opens $3.5 billion Chinese-built free trade zone

The government of Djibouti on Thursday commissioned a $3.5 billion Chinese-built free trade zone, seeking to capitalize on its strategic position on one of the world’s busiest trade routes. Djibouti, one of Africa’s smallest countries, has become China’s “strategic partner” in recent years. Beijing has built a military base and a port in the Horn […]

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Sanctions-hit Rusal restarts alumina refinery in Guinea

Russian aluminium producer Rusal has restarted production at its Friguia alumina refinery in Guinea on Wednesday, Reuters reported. The sanction-hit miner restarted its activities in the West African nation after a six-year hiatus, the Guinean mines minister said. Rusal, the world’s largest aluminium producer outside China has been hit by US sanctions since April. Rusal […]

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Ghana, Côte d’Ivoire to agree on cocoa export volumes from next year

Ghana and Côte d’Ivoire will jointly decide on the volume and timing of cocoa exports by August for the 2019/20 season, the head of Ghana’s Cocobod said on Wednesday. The world’s top two producers of cocoa have agreed to harmonize the forward sales of cocoa export contracts, a statement released by Ghana Cocobod and its […]

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China & South Africa boost ties ahead of BRICS Summit

China and South Africa have agreed to further strengthen their bilateral cooperation. Chinese State Councillor and Foreign Minister Wang Yi who is in an official visit in South Africa said China-South Africa relations are presented with a historic opportunity that is inheriting the past and ushering in the future. South African President Cyril Ramaphosa said […]

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Burkina Faso re-establishes diplomatic relations with China

China and Burkina Faso have re-established diplomatic ties on Saturday, leaving the Kingdom of eSwatini as the only ally of Taiwan on the continent. About 19 countries still recognize Taiwan, most of them poor nations in Central America, the Caribbean, Pacific and Africa. Speaking to reporters in Beijing after signing an agreement to re-establish relations […]

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