China, Algeria celebrate 60 years of diplomatic ties
Chinese President Xi Jinping on Thursday pledged to help promote further development of a comprehensive strategic partnership between China and Algeria. Thursday marks the 60th anniversary of the establishment of diplomatic relations between the two nations. In a congratulatory message to his Algerian counterpart, Abdelaziz Bouteflika, Xi said China and Algeria have enjoyed profound traditional […]
US-China rivalry in Africa set to sharpen in 2019, Control Risks says
Early signs suggest that the US-China rivalry will find its way to the African continent in 2019. While the US is multiplying warnings about the perils of Chinese debt-fueled spending for economic stability, China will continue to broaden its engagement across the continent, with particular focus on East Africa. This is one of the key […]
China pledges to build a 650-seat parliament in Zimbabwe
Zimbabwe’s information minister on Friday said Chinese officials have pledged $46 million for a new parliament building, to be built on a plot of farmland outside the capital Harare. The building, extending over a total floor area of 33,000 square meters, will replace the current parliament building, built in the colonial era. An artist’s impression […]
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 […]
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 […]
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 […]
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 […]
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. […]
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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