Weekly news

06/10/2010 to 12/10/2010

EPRDF, Chinese Communist Party sign MoU -Walta Info (ETH)
The Ethiopian People’s Revolutionary Democratic Front and the Communist Party of China (CPC) have signed a Memorandum of Understanding (MoU) today to further buildup their cooperation.

Consumers face tough times in the dollar’s fall -Business Daily (KEN)
Since January the Japanese Yen and Chinese Yuan have appreciated against the greenback by 20 per cent and climbed eight per cent higher against the shilling — translating into higher cost of imports from both countries.

CCECC Fails to Deliver on Schedule -Nigerian Infrastructure News (NGA)
The Chinese Construction and Engineering firm, CCECC has announced its inability to deliver Nigeria’s rail project on schedule. It attributed its inability to torrential rains this season and promised to deliver all the rail jobs in March about six months hence.

China move to emerging currencies ‘to lift rand’ -Business Day (ZAF)
China is moving to add more emerging-market currencies to its foreign-exchange reserves, in a move that could extend strength in the rand and the currencies of other developing countries.

Prize will not change the way that China operates -Business Day (ZAF)
Nobel Peace Prize folks have done something even past winner Barack Obama has not: taken on China. Tight control over information is not strength, writes William Pesek

The Chinafication of the ANC -My News 24 (ZAF)
The news of ANC NEC members heading off to China to learn about politics and economics amidst erupting raucous in China over the award of the Nobel Peace Prize is not unsurprising. After all, was it not the same ANC who refused to allow another  Nobel laureate and “counter-revolutionary “ enemy of the Chinese State, the Dalai Lama, entrance into South Africa for fear of what the new masters may say.

China to build $10M vocational institute -New Times (RWA)
The Chinese government will finance the construction of a vocational training institute in Muko Sector, Musanze District to the tune of $10 million.

China constructs Frw600m school in Kabarole -New Times (RWA)
The Government of China has earmarked Frw600 million for the construction of what is called a ‘modern school’ in Kabarole Sector, Gatsibo district.

ARM to sell stake in fertiliser unit and focus on cement -Business Daily (KEN)
Athi River Mining will restructure its business with the sale of its fertiliser section as it races to focus on the lucrative but increasingly competitive cement market.

China-Africa forum benefits strategic ties, development -Xinhua (CHN)
Since its birth a decade ago, the Forum on China-Africa Cooperation (FOCAC) has become a platform for dialogue and pragmatic cooperation between China and Africa, said China’s Commerce Minister Chen Deming in a newspaper article published Tuesday.

Bullying China a threat to Africa -Afrol News
China’s culture of bullying in foreign relations, as viewed in actions against Asian neighbours, against nations having relations with Taiwan and against the host of the Nobel Committee, spells trouble for Africa, which gets steadily more dependent on Chinese funds.

Relations with Africa sound -Xinhua (CHN)

Dialogue mechanism is effective in facilitating pragmatic aid, cooperation and exchanges in a wide range of areas. Sunday marked the 10th anniversary of the Forum on China-Africa Cooperation (FOCAC), a significant cooperative mechanism between the world’s most populous nation and the vast African continent.
Nigeria Approves $2.5 Billion Sale of Nitel to Dubai’s Minerva After Delay -Bloomberg (USA)
Nigeria’s government approved the sale of the state telecommunications company to Dubai’s Minerva Group and its partners, eight months after they bid $2.5 billion for the company at an auction.

India competes with China, Europe for growing African market -Economic Times (IND)
With the help of the government, Indian industry is implementing a strategy to compete with China and European countries for capturing markets in growing African economies , particularly in East Africa.

Ain’t No Stopping the Chinese! – This Day (NGA)
MORENIKE AKERELE finds out the reason(s) for China’s pull towards Africa and tensions arising from the relationship at the African Forum Session of the IBA in Vancouver

China Keen On Investing in Southern Sudan -Oye Times (CAN)
The Eastern Equatoria State Governor Brigadier General Louis Lobong Lojore returned home yesterday from a tour of China.  Governor Lojore was part of a GoSS delegation that visited China for what was termed as ‘post-referendum development preparation’ visit.

ZMF to aquire 1000 compressors from China -Sunday News (ZWE)
The Zimbabwe Miners Federation (ZMF) has entered into a Memorandum of Agreement with a South African firm that will see the acquisition of 1 000 compressors and accessories at a cost of US$2 million from China.

South Africa Coal Exports to China Fall, Trader Says -Bloomberg Businessweek (USA)
South African coal exports to China plunged in September while shipments to India increased from a month earlier, said mjunction Services Ltd., a web-based trader.

Diamond market shines bright -People’s Daily (CHN)
South African diamonds have found a new market. “The next big market for rare diamonds will be China,” said Marwan Chatila, owner of Chatila, a fine jeweller in London’s Bond Street.

Analysis: ANC’s ‘Made in China’ future, coming soon to your neighbourhood -Daily Maverick (ZAF)
It’s now pretty obvious China is on its way to global supremacy in the not so distant future. So as the news of tighter, deeper collaboration between Chinese communists and SA’s rulers seeps into the open, it is easy to be worried, but difficult to be surprised.

China to boost cooperation with African nations: vice premier -People’s Daily (CHN)
Chinese Vice Premier Li Keqiang said Monday China will deepen friendly cooperation with African nations and further improve the decade-old China-Africa Cooperation Forum (FOCAC).

FG shuts firm over poor workers’ welfare -Vanguard (NGA)
The Federal Government has  ordered the closure of sections of the Chinese construction giant, Chinese Civil Engineering and Construction Company (CCECC) in Abuja over poor health safety regulations.

Embracing anti-counterfeiting technology has paid off – NAFDAC -Vanguard (NGA)
The National Agency for Foods and Drugs Administrations and Control (NAFDAC) weekend said the move by the agency to embrace modern anti-counterfeiting technology has paid off as it has resulted to the prosecution and sentencing to death in China, six Chinese nationals involved in the manufacture of fake drugs exported to the country.

Minister seeks to end Chinese wool import ban -Business Report (ZAF)
Talks are afoot between the Department of Agriculture, Forestry and Fisheries and its Chinese counterpart on lifting that country’s year-long ban on South African apparel wool imports, which has severely affected the local industry.

China pours more cash into Africa -Business Report (ZAF)
China would encourage commercial banks to lend more to Africa, a trade official said on Saturday. Beijing pledged $10 billion (R69bn) in “preferential” loans to Africa last year, but Ministry of Commerce official Zhong Manying said that was not enough.

Uganda stall at Shanghai expo pulls 18 million visitors -New Vision (UGA)
The spotlight at the ongoing Shanghai expo in China turned on the Uganda stall on Saturday as Ugandans at the show marked the 48th Independence Day with a brilliant display of the country’s abundant gifts and culture.

Zambia: UK survey tips Zambia’s economy for growth -Lusaka Times (ZMB)
Europe’s top-notch business and economy survey, United Kingdom-based Business Monitor International (BMI) has projected that Zambia’s economy will outperform many African countries with real Gross Domestic Produce (GDP) forecast to rise to 7.5 per cent. Much of the impetus for this growth will come from a deepening partnership with China, which is expected to be a major foreign investor in the Zambian economy.

Aggressive marketing is the way to go for SMEs in the region -The East African (KEN)
East Africa’s small and medium enterprises’ only hope of surviving the onslaught of entrepreneurs from outside the region lies in aggressive marketing. According to KPMG chief executive officer Josphat Mwaura, businesses from China, India and Middle East are fast investing in the region and local SMEs must be part of these investments.

Mortgage firms scramble for mega projects -Business Daily (KEN)
Last week, mortgage provider S&L said it was taking developers to China for a technological transfer trip to expose the investors to cheaper building technologies.

Liu Liu Xiabo Nobel Peace Prize important for Africa -Politics Web (ZAF)
Why it is important for Africa and China that Human Rights Activist Liu Xiabo won the Nobel Peace Prize: TAC and SECTION27 welcome Nobel Committee’s decision

China donates sh1b malaria drugs to Uganda -New Vision (UGA)
The Chinese government has donated anti-malaria drugs worth sh1.25b to Uganda. The drugs were officially handed over to health state minister Dr. Richard Nduhura on Friday.

Queueing up for Lake Albert’s oil -Africa Asia Confidential (GBR)
Indian and Chinese companies have joined the race for Uganda’s oil assets in the Lake Albert Basin, where at least 2 billion barrels of oil have been discovered. Opportunities have arisen since President Yoweri Museveni’s government is using the transfer of oil assets as a tool to extract more attractive terms from international oil companies operating in Uganda.

China aims to boost bank loans to Africa -Business Report (ZAF)
China, criticised in the West for overlooking human rights abuses in its business dealings with poverty-stricken Africa, will encourage commercial banks to lend more to the continent, a Chinese trade official said on Saturday.

Chinese given worst employer award by union -Business Report (ZAF)
The Southern African Clothing & Textile Workers’ Union (Sactwu) handed over its 2010 worst employer award, “the broken brick”, to the Newcastle Chinese Chamber of Commerce and Industry (NCCCI) on Thursday, the union said.

Ugandans should learn Chinese -New Vision (UGA)
The Vice-President, Prof. Gilbert Bukenya, has urged Ugandans doing business in China to learn Chinese so that they can trade effectively without depending on interpreters.

China, Malawi’s Fertilizer Subsidies, and Monsanto -China in Africa: The Real Story (USA)
Now that five years have gone by, the success of Malawi in increasing food production through using fertilizer subsidies appears to be pretty well established, and interest in replicating Malawi’s experience is growing.

China and Brazil’s mining interests to drive growth in Mozambique -Club of Mozambique (MOZ)
The participation of Brazilian and Chinese in the Mozambican coal sector will be one of the biggest drivers of growth for the country’s economy in 2011, according to financial rating agency Fitch, in a report on Mozambican credit risk.

US, China Interests Compete In Sudan -VOA News (USA)
While U.S. officials are making a diplomatic push to keep the south Sudan independence referendum on schedule for January, analysts say China, a major ally of Sudan’s government, also has an important role to play. The U.S., China rivalry is being played out over Sudan’s uncertain future.

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