Weekly news

14/04/2012 to 20/04/2012

Top Stories:                                                                                                          

 China’s non-interventionism at a crossroad – China.org (CHN)

 S.Africa’s IDC says in loan talks with China – Reuters Africa

 Ghana Signs $1 Billion Loan With China for Natural Gas Project – Bloomberg

 Give China all the roads; traditional donors have moved on to other projects – East African (KEN)

 Botswana wooing Chinese investors – Botswana Gazette (BWA)

 Tanzania sources Chinese loan for wind farm – ESI Africa

Politics                                                                                                                 

African allies welcome improved Taiwan-China ties: president (update) – Focus Taiwan (TWN)
18/04/12
Improved cross-Taiwan Strait ties have helped expand Taiwan’s international space and have also been welcomed by the country’s African allies, President Ma Ying-jeou said on Wednesday

Political Economy of China’s Foreign Direct Investment in Ghana – GhanaWeb (GHN)
17/04/12
Ghana opened its economy to the world economic order since 1983, as a result, of the massive economic mismanagement, political instability, balance of payments deficit, and poor terms of trade as well as bad weather conditions that characterized the nation’s economy prior to 1983.

South Sudan leader to visit China amid violence – Star Africa
16/04/12
The President of South Sudan — whose country has been locked in fierce border clashes with Sudan — will visit China later this month, the host country has announced.His trip comes at a time of turmoil in the newly-formed African state, whose troops last week seized a contested oil field, prompting Sudan to launch air strikes across the border — raising fears of a return to outright war.

China’s non-interventionism at a crossroad – China.org (CHN)
14/04/12
The outbreak of violence on the border of Sudan and South Sudan should serve as a warning to Chinese officials. At a time when the world’s focus is pointed squarely at Syria, the Chinese government may face a far more serious problem within the continent of Africa.

Economics                                                                                                            

S.Africa’s IDC says in loan talks with China – Reuters Africa
20/04/12
South Africa’s Industrial Development Corporation (IDC) is in talks with China for a loan to invest in sectors such as infrastructure development and health, chief executive Geoffrey Qhena said on Friday.

The three billion dollar question – Africa-Asia Confidential (GBR)
20/04/12
The government’s decision to borrow US$3 billion from the China Development Bank (CDB) has become a key election issue, much to the irritation of the authorities in Beijing, who prefer to keep a lower profile.

Is Africa the next Asia? – Ghana Business News (GHN)
18/04/12
The rhetoric surrounding Africa, or at least the continent’s economic development, appears to be changing.

China drags rand weaker – Fin24 (ZAF)
13/04/12
The rand retreated against the dollar, dragged by worse-than-expected Chinese economic data which has seen commodity currencies fall in early Friday trade. The rand is susceptible to Chinese economic developments as about 30% of South Africa’s exports are to Asia.

Fund sets new aims for Africa – China Daily (USA)
13/04/12
The China-Africa Development Fund is shifting its investment strategy with the focus now on infrastructure, manufacturing and agriculture, after a capital injection of $2 billion, Hu Zhirong, vice-president of the fund, said.

Business                                                                                                               

Sascoc knocked for Chinese kit – IOL (ZAF)
18/04/12
The Trade and Industry Department yesterday criticised a South African Sports Confederation and Olympic Committee (Sascoc) decision to use foreign suppliers to make the kit for the SA Olympic and Paralympic Games teams.

Zhong Jianhua: Chinese Enterprises in Africa – FOCAC 
17/04/12
On 28th January, 2012, anti-government military force in Sudan kidnapped 29 Chinese workers engaging in infrastructure construction in South Kurdufan of Sudan. Only two days later, another 25 Chinese citizens were kidnapped by the Bedouins in Egypt. Though the hostages in the two snatches are set free now, two consecutive events have aroused Chinese people’s concerns about the conditions of Chinese enterprises in Africa.

Friend of Africa in deed – China Daily (CHN)
13/04/12
Wei Jianguo has had a string of titles during a long and distinguished career, but perhaps the tag that most suits him is “friend of Africa”.

Finance and Banking

Condé wants quick results – Africa-Asia Confidential (GBR)
20/04/12
Five-year plans, inspired and financed by China, are winning support in Conakry as pressure mounts on the government. Officials from the China Development Bank (CDB) are offering to finance a substantial part of the Conakry government’s US$8.6 billion overhaul of mining and industrial infratructure, according to a source close to negotiations.

Ghana eyes $6b loan from China Exim Bank – Ghana Business News (GHN)
19/04/12
Ghana has initiated negotiations with the China Exim Bank (CEB) for a $ 6-billion loan facility which will be used to accelerate social infrastructural development.

Ghana’s first tranche of $3b China loan ready – Veep – Ghana Business News (GHN)
19/04/12
Vice President John Dramani Mahama on Wednesday said the first tranche of the $3 billion Chinese loan from the China Development Bank (CDB) was ready for immediate draw-down by the Government.

Oil and Gas

Asia to Cut West African Crude Imports to Five-Month Low – Bloomberg (USA)
19/04/12
Asian refiners will reduce daily imports of West African crude in May by 3.6 percent to the lowest in five months, a survey of five traders and an analysis of loading programs obtained by Bloomberg News showed.

Ghana Signs $1 Billion Loan With China for Natural Gas Project – Bloomberg
16/04/12
Ghana signed a $1 billion lending agreement with China Development Bank Corp. as part of the biggest loan in the country’s history that Vice President John Dramani Mahama said would provide hundreds of thousands of jobs and develop natural gas.

Mining and Metals

New mining operations to impact on copper supply growth – Mining Weekly (ZAF)
20/04/12
The copper industry is forecast to reach oversupply highs from 2015, says base metals marketing con- ultancy Bloomsbury Minerals Economics (BME), which was recently acquired by Perth-based Intierra Resource Intelligence, a supplier of business intelligence to the global resources sector.

Transport and Infrastructure

ADAC in Chengdu to meet with Chinese carriers ahead of World Routes – Travel Daily News (USA)
17/04/12
The 10th Routes Asia, Asia Pacific region’s only route development forum, is currently taking place in Chengdu, China from 15-17 April, for airlines and airports to meet and shape the future of air service development.

Chinese China Communications Construction Company Limited to invest in Ghana’s roads, railways, harbours – Ghana Business News (GHN)
16/04/12
The China Communications Construction Company Limited (CCCC) has expressed interest in investing in Ghana’s roads, railways and harbours expansion projects.

Give China all the roads; traditional donors have moved on to other projects – East African (KEN)
14/04/12
In her column last week, Rasna Warah offered a critique of “traditional donors” in Africa, and heralded a new approach, led by China and embodied most recently by Turkey. What is this “new development aid paradigm?” The model emphasises, in her words, “mutual trade benefits and infrastructure development.”

Trade

The Africans looking to make it in China – CNN (USA)
18/02/12
China has stepped up its engagement with Africa in recent years, scouring the resource-rich continent in its bid to access natural resources and forge new trade routes. But the Asian powerhouse is also emerging as an attractive business destination for Africans.

Investment

Zimbabwe: 170 Chinese Investors for ZITF – The Herald (ZIM)
20/04/12
A 170-member delegation of Chinese businesspeople will be visiting Zimbabwe next week to explore trade and investment opportunities and attend the Zimbabwe International Trade Fair in Bulawayo. Secretary for Economic Planning and Investment Promotion Dr Desire Sibanda said apart from participating at the ZITF, the delegation would also attend the Zimbabwe-China Investment Conference to be held on April 26.

Outbound investment still in beginning stage – China Daily (CHN)
19/04/12
Despite unprecedented opportunities abroad, China’s outbound direct investment is still in a fledgling state, according to a poll undertaken by China’s trade promotion agency.

Botswana wooing Chinese investors – Botswana Gazette (BWA)
18/04/12
The Minister of Finance and Development Planning, Kenneth Matambo has said it would be of mutual benefit if Chinese textile and other investors could set up manufacturing plants in Botswana.

Outbound investment rises – China Daily (CHN)
18/04/12
Chinese outbound direct investment in the non-financial sectors almost doubled in the first quarter from a year earlier as Chinese companies were encouraged to invest abroad and opportunities arose from European debt troubles and the global financial crisis.

China’s Foreign Direct Investment Declines a Fifth Month – Bloomberg (USA)
17/04/12
Foreign direct investment in China dropped for a fifth straight month in March on a slowing economy, limited prospects for gains in the yuan and renewed concerns that Europe’s debt crisis will worsen.

Africa Provides Investment Opportunities for China – KPMG – All Africa
14/04/12
KPMG has attributed day by day increase in Chinese investment in Africa to numerous investment opportunities in the continent.This was made known during the global KPMG workshop titled “Roll out of the Delivering KPMG Difference” in Lagos over the weekend.

Education

In Swahili, they call it … – China Daily (CHN)
19/04/12
When Shen Yuning announced he was planning to compile a Swahili-Chinese dictionary, most of his friends thought he was joking. Since that online post in December, Shen has compiled nearly 5,000 words, working at least 15 hours a day in Kenya and Tanzania with help from some Africans.

Environment

Tanzania sources Chinese loan for wind farm – ESI Africa
19/04/12
Tanzania has secured a US$123 million loan to construct a wind energy plant in its central region. The wind turbine project expects to extend power generation by up to 300 MW.

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