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Sierra Leone revokes $400 million airport deal with China

Sierra Leone’s government has terminated a $400 million deal to build a new airport with Chinese labor and loans, Reuters reported. The plan had repeatedly been criticized by international financial institutions for the additional burden it would place on Sierra Leone’s external debt. Sierra Leone has accumulated more than $220 million Chinese debt in the […]

South Africa gets $35 bln in investment pledges to revive ailing economy

South Africa got investment commitments of $35 billion as part of plans to attract $100 billion over the next five years to revive the country’s flagging economy, said presidential economic advisor on Wednesday. President Cyril Ramaphosa’s appointed a team of business and finance experts earlier this year to scour the globe for $100 billion in […]

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China’s Influence growing in Africa; US Senate fights back!

The United States Senate has adopted with an overwhelming majority the creation of the United State Development Finance Corporation (USIDFC). This mega-agency, which will have the capacity to mobilize $60 billion, is mainly meant to counter China’s growing economic influence in Africa and is seen as a response to the Chinese initiative “One belt, one […]

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Liberians protest to demand return of lost millions

Thousands of protesting Liberians, on Monday, carried petitions to present to embassies of the United States, the EU and the United Nations in Monrovia to demand the return of $104 million in cash that went missing on the way to the central bank. Shipping containers containing the equivalent of $104 million in Liberian banknotes or […]

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Morocco & India to boost cooperation in tourism

India and Morocco have agreed to give a new momentum to their cooperation ties in the field of tourism industry with a view to increasing tourist arrivals between the two countries. The agreement was sealed during a visit Moroccan tourism minister Mohamed Sajid paid Monday to New Delhi where he met with his Indian peer […]

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EU is trying to ‘hijack our institutions’ – Uganda Government spokesman

The Ugandan government has responded to the European Union Parliament, days after the continental bloc’s parliament has called on the East African nation to drop charges against legislators. Members of the European Parliament (MEPs) in a resolution released last weekend made reference to the violent turn of events during a by-election in August in Uganda. […]

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Gabon: Chinese energy firm to invest $209 million in hydropower projects

Chinese energy firm TBEA, previously known as Tebian Electric Apparatus, will invest $209 million in a hydropower project in Gabon, Reuters reported. According to Liban Soleman, general coordinator of the Gabonese Bureau of Coordination and Planning, construction will begin “pretty soon” on the project, which will have a power generation capacity of 70 megawatts in […]

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Congo seeks Beijing’s help on IMF bailout accord

President of the Republic of Congo Denis Sassou Nguesso will seek Chinese support for its negotiations with the International Monetary Fund about a bailout, a government spokesman told Bloomberg. According to Thierry Moungala, Brazzaville will solicit China’s support during the China-Africa Cooperation Forum to be held in Beijing September 3 to 4. Congo is seeking […]

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Beijing Summit to Boost Sino-African relations

The upcoming Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) will be an important opportunity to deepen Sino-African cooperation, officials said on Monday. The summit themed: “China and Africa: toward an even stronger community with a shared future through win-win cooperation”, will be convened in Beijing in Sept 3–4. African leaders, representatives of African […]

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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 […]

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