Weekly news

09/05/2010 to 12/05/2010

Strong case for a second port- Daily Nation (KEN)
A second port in Lamu makes economic sense, its proponents say, since the Port of Mombasa is almost stretched. The port received 19 million tonnes of cargo last year against an installed capacity of 20 million, according to the Kenya Ports Authority (KPA). Full Story.

China boosts business links with S Africa- Financial Times (GBR)

China will on Friday formally announce its largest investment in South Africa for two years, entrenching its position as the resource-rich continent’s most important economic and commercial partner. Full Story.

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. Full Story.


To Congo, with trouble- Asia Times (HKG)


 A barter deal with the Democratic Republic of Congo (DRC) trumpeted by China as a showcase of its “win-win” strategy in Africa has been hit by charges of corruption, a court case and a barrage of Western criticism. The surprise onslaught is causing Beijing to suspect a plot to undercut its expanding presence in the resource-rich continent. Full Story.

Chinese bank to invest $1 bln in Zambia power plant- Walta Information (ETH)
China plans to spend $1 billion to help build a power plant to boost Zambia’s electricity supply by 600 megawatts, a senior official in Africa’s top copper producer said on Tuesday. Full Story.

Natural gas find raises hope of Kenya striking oil- Business Daily (KEN)

The discovery of what has been termed “very high concentrations of natural gas” by a Chinese firm drilling for oil in northern Kenya has raised hopes that the country could soon strike oil and save on a product that accounts for nearly a fifth of the import bill. Full Story.

‘Brave’ Chinese firm to shake up cement market- Business Report (ZAF)
It’s interesting – even intriguing – that at a time when listed cement and lime producer Pretoria Portland Cement (PPC), the country’s largest producer, is looking to expand its business beyond its existing geographical boundaries, a Chinese company is planning to invest in the cement industry in South Africa. Full Story.

Sata Questions ‘Imaginary’ Chinese Investment to Zambia- Lusaka Times (ZAM)

The leader of Zambia’s main opposition Patriotic Front (PF) party says the government’s announcement of a $1 billion Chinese investment to help build an electric power plant is a “cheaply conceived” ploy to garner votes ahead of next year’s general elections. Full Story.

China offers Zambia $1bn for power project- Lusaka Times (ZAM)

The China Development Bank (CDB) offered Tuesday to provide one billion dollars (787 million euros) for a planned hydroelectric station in Zambia and proposed a Chinese company to develop the project. Full Story.

South-South biotech collaborations flourish- Africa Good News (ZAF)
Developing countries are turning to each other for affordable and targeted solutions to national health problems, a study of South-South biotechnology collaborations has found. Full Story.

Banks stake bets on SMEs ahead of revolution- Business Daily (KEN)
Kenyan banks and micro-finance institutions are scrambling to attract small and mid-sized enterprises by tailoring products to meet the needs of this niche. Full Story.

China opens up market to 4,000 African products- Standard (KEN)

China has lifted import duties for some African products to open up its markets and fast track achievement of millennium development goals (MDGs). Full Story.

Oil talks stall between Nigeria, China: adviser- Daily Nation (KEN)

Talks between Nigeria and China over Beijing’s bid to buy 6 billion barrels of the OPEC member’s oil reserves have been stalled for months due to a dispute over price, a senior Nigerian government official said on Monday. Full Story.

China, Angola vow to promote energy cooperation- Xinhua (CHN)
China and Angola share broad prospect in energy cooperation, which will facilitate economic development of both nations, Chinese Vice Premier Li Keqiang said in Beijing Sunday. Full Story.

Guinea set to seal fresh iron ore deal- Financial Times (GBR)
Guinea expects in the coming weeks to announce another significant iron ore deal to follow Vale’s $2.5bn acquisition in the west African country, with Chinese investors considered the frontrunners. Full Story.

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