Weekly news

01/09/2010 to 08/09/2010

Zijin drops plan to take over congo copper firm- Shanghai Daily (CHN)
ZIJIN Mining Group Co has dropped a plan to acquire a Congolese copper miner, the second time this year it withdrew from an overseas investment plan.

Two men condemned to death for killing Chinese oil workers- Sudan Tribune (SDN)
Two Sudanese men allegedly affiliated to an armed rebel group in Darfur have been convicted and sentenced to death by hanging for killing four Chinese oil workers and a Sudanese solider in the Kordofan region in 2008.

We cannot emulate China just yet- Daily Monitor (UGA)
This is in response to your editorial, “Uganda could learn from China’s order” (Daily Monitor, August 25). Learning from China is a good idea. However, your editorial does not put the subject in a historical perspective. Uganda, and in fact, the whole of Africa, may learn from China but cannot emulate it just yet.

Liberia needs $1bn road overhaul – Minister- Engineering News (ZAF)
Liberia’s road network, largely collapsed after 14 years of civil war, will cost at least $1-billion to overhaul, and the impoverished West African state is looking to miners and other investors to provide the funding.

Ventures abroad facing a bumpy road- China Daily (CHN)
With the rapid growth of China’s economy and its fast-paced integration with the global market, “Chinese companies going global” has suddenly become a hot topic.

China firm to build heavy machinery assembly factory- Standard (KEN)


Sany Kenya, the subsidiary of Chinese construction machinery firm Sany Group, plans to set up a training centre, a workshop and assembly factory inNairobi.


Africa should learn from emerging markets- Daily Monitor (UGA)

For a number of years now, African economies have been battling to reverse their marginalised position in global trade and investments.

SA looks to China for agriculture deals- Business Day (ZAF)

South Africa will continue talks with China on Tuesday to find a market for surplus maize and attract investment into processing plants, the agriculture minister said on Monday.

Chinese National Fined Over Forex- The Namibian (NBA)
An attempt to take a hoard of undeclared foreign currency out of Namibia – and then to bribe his way out of the fix he was in, when he was facing arrest – cost a Chinese businessman court fines totalling N$50 000 on Friday.

How Suitable is China’s Growth Model for Nigeria?- This Day (NGA)
Last week’s piece on the arrival of the Chinese has sparked an interesting debate. If for three decades an economy has grown at a yearly rate of over 10 per cent; if it has pulled over 400 million people out of grinding poverty; if it supports African countries to the tune of billions of dollars; if the economy owns some $2.5 trillion investment, including treasury bills in the US; and if it has become the world’s second largest economy, could its model be prescribed for Nigeria?

Kenya gets low-priced smartphone- Business Daily (KEN)
The quest for control of Kenya’s rapidly growing mobile Internet market has intensified with the launch by Chinese technology firm Huawei of a competitively priced smartphone that runs on Google’s Android operating system.

GNPC Mafia exposed!- Ghana Web (GHN)
The announcement on 17 August 2010 by ExxonMobil that it was abandoning its interest-purchase of 23.5% stake in the Jubilee field, Africa’s biggest offshore oil field, was precipitated by a Ghana National Petroleum Corporation (GNPC) backed-bid offer made by China Offshore Oil Corporation (CNOOC) to Kosmos Energy Limited, the largest shareholder of the Jubilee Field.

China-aided development projects benefiting Ethiopian communities- Xinhua (CHN)
Development projects being carried out with the aid of the Chinese government have significantly benefited Ethiopians while creating significant number of local jobs.

Rawlings: Russia, China Must Guide Ghana’s Political Development- Ghana Web (GHN)
Former President, Flt Lt Jerry John Rawlings says long-term friends of Ghana such as Russia and China owe it a duty to make known their observations about political developments in the country “on account of the bumpy roads we have been through in the past”.

Angola is second partner in China- Journal de Angola (AGO)
Trade between China and Portuguese-speaking countries amounted this year to July, 49, 619 billion dollars, according to data from China’s Customs Service announced on Wednesday in Macau.

Is Zambia selling its soul to China?- Lusaka Times (ZAM)
Ever wondered why the Chinese are willing to pay so much for a small piece of land? Well, it is now common knowledge in Zambia that if you want to sell your piece of land, just look for the Chinaman. They will pay top price for it.

China orders action to cool surging food prices, boost supplies amid shortages- Club of Mozambique (MOZ)
China has ordered local leaders to cool a surge in politically sensitive food prices by raising vegetable production amid rising tensions in poor countries over surging food costs.

VP asks China to help effect Constitution- Daily Nation (KEN)
Vice-President Kalonzo Musyoka has urged the Chinese Government and the National People’s Congress to support the implementation of the new Constitution.

Ultra Makeover for Former Policy Bank CDB- Caixin News (CHN)
Is there life after policy banking? An answer appears to be emerging at China Development Bank (CDB) as it makes the transition after years of government-backed policy lending.

UPDATE 1-MagIndustries says gets nod for Mengo potash project- Reuters (USA)
MagIndustries Corp said it has received confirmation from the Republic of Congo that the country’s National Assembly and the Senate have ratified the Canadian company’s proposed Mengo potash project.

Fake Products – FG Yet to Sign MOU With China- Daily Trust (NGA)
Nigeria is delaying the signing of a Memorandum of Understanding (MOU) with China on the elimination of substandard products because details of the MoU did not take into consideration the aspect of quality assurance of Chinese goods coming into Nigeria.

Chinese leap in to Nigerian free zone- Business Report (ZAF)
Nigeria is building a multi-billion dollar free trade zone with Chinese investors on the edge of its commercial capital Lagos to try to develop a local manufacturing base and help reduce its import dependence.

Seminar held in France to boost China-Africa trade co-op- Xinhua (CHN)
Growth and investments were key topics of discussion during a seminar held to promote China-Africa trade and economic cooperation.

Sh200b road works begin- New Vision (UGA)
CICO, a Chinese construction firm, has won a $100m (over sh200b) contract to upgrade the Fort Portal-Bundibugyo-Lamia road.

CADF signs extraction deal for uranium- Global Times (CHN)
01/09/2010 China National Nuclear Corporation (CNNC) announced Tuesday that it has signed a contract with the China-Africa Development Fund (CADF) on uranium exploration in Africa.

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