Weekly news

14/12/2009 to 20/12/2009

All last week’s China Africa developments:

* Ethiopia power: The untold story- Standard (KEN)
It has been painted as the ultimate solution to the country’s perennial energy crisis. Indeed, according to extensive investigations by Financial Journal, two top Energy Ministry officials, Minister Kiraitu Murungi and PS Patrick Nyoike, seem to be pegging their legacy on its success. Full Story.

* Zambia: Largest coal mine up for grabs- Africa News (NED)
Singapore’s Nava Bharat Ventures Limited has agreed to buy a 65% stake in Zambia’s largest coal mine from the government of the African country for $26 million. Full Story.

* Angola shows image in China- Journal de Angola (AGO)
Angola participates, 1 May to 31 October 2010 at the world exhibition in Shanghai, China (Expo 2010), a space of interaction which will promote their capabilities and potential economic, financial and tourist attractions. Full Story.

* Nigerian oil- FT (GBR)
Force majeure is a phrase any oil and gas executive dreads. Sadly, it is one heard all too often in connection with Nigeria. Full Story.

* Oil Majors Shun New Projects, Target Ghana- This Day (NGA)
Uncertainty over the soon-to-be-passed Petroleum Industry Bill (PIB) has prompted International Oil Companies (IOCs) to suspend new investments, especially in deep offshore, where PIB imposes stiffer conditions on the operators. Full Story.

* Salt to earn Ghana $2bn annually- Ghana Web (GHN)
Ghana could earn up to $2 billion annually exporting salt to neighbouring countries in West Africa, particularly Nigeria, the region’s leading economy which currently buys $2.3 billion worth of salt yearly from Brazil and Australia, experts have said. Full Story.

* Zambia: Chinese contractor disappoints Chinyanta- Lusaka Times (ZAM)
Northern Province Minister John Chinyanta has expressed disappointment at the poor workmanship on the construction of a boarding High School in Mpulungu by a Chinese contractor. Full Story.

* Shell to Dump Nigeria’s Oil Fields- This Day (NGA)
Amidst the speculation of harsher terms on foreign operators in the Nigerian oil industry next year, Royal Dutch Shell, the oil giant, has offered some of its oilfields in the Niger Delta valued at up to $5 billion (£3.1 billion) for sale. Full Story.

* Sudan climate negotiator ‘Holocaust’ remarks prompt angry response- Sudan Trubune (SDN)
The Sudanese negotiator representing the Group of 77 and China bloc of 130 poor nations was criticized following his statements likening the climate-change deal reached in Copenhagen to the Holocaust. Full Story.

* ‘Railway Infrastructure in Poor State’- Herald (ZBW)
THE country’s railway infrastructure is in a bad state, with at least two-thirds of the network requiring urgent replacement. Full Story.

* UN Security Council to sanction Eritrea- Africa News (NED)
The UN Security Council agreed to impose an arms embargo on Eritrea. The Council also decided to impose travel bans and freeze assets of government and military leaders supporting Somali insurgents, officials said. Eritrea is accused of providing insurgents with money and weapons as to overthrow the Somali government. Full Story.

* Firm hires Chinese consortium to build cement factory- Standard (KEN)
A cement company has contracted the services of a Chinese consortium on a turnkey basis, to build its factory in Pokot District. Full Story.

* Chinese donate rice to Obama’s step-grandmother- Standard (KEN)
Chinese volunteers have donated over 100 tonnes of rice to Sarah Obama, US President Barack Obama’s step-grandmother, to help her AIDS orphans in western Kenya. Full Story.

* RB urges Chinese team to quickly start working on the economic zone in Lusaka.- Lusaka Times (ZAM)
President Rupiah Banda has asked the Zambia-China Economic and Trade Cooperation Zone (ZCCZ) team to quickly start working on phase one of the economic zone in Lusaka. Full Story.

* Sata Condemns Chinese Investments- Times of Zambia (ZAM)
Patriotic Front (PF) president Michael Sata has condemned Chinese investment in Africa, which he said was designed to benefit only Chinese nationals. Full Story.

* Chinese Ambassador Lauds GAC- The Analyst (LBR)
The Chinese Ambassador to Liberia, His Excellency Zhou Yuxiao, today, pays a courtesy call on the Auditor General of the Republic of Liberia, John S. Morlu, II. Full Story.

* Standard Bank in carbon emission reductions deal- Engineering News (ZAF)
Standard Bank and China’s Guodian Power have signed a carbon emission reductions purchase agreement, the parties said on Thursday. Full Story.

* A Deep Reading of the Fourth FOCAC Action Plan- Pambazuka News (KEN)
The impact of the fourth FOCAC meeting held in Egypt ten days ago is still being felt in the world’s press, if no longer in front-page headlines. Full Story.

* First Lady Thandiwe commends Chinese government- Lusaka Times (ZAM)
First Lady Thandiwe Banda has commended the Chinese government for its investment in Zambia. She urged Chinese Ambassador to Zambia Li Qiangmin to woo more investors from his country to Zambia in an effort to develop the country. Full Story.

* ‘MMD Has a Lot to Learn From CPC- Times of Zambia (ZAM)
President Rupiah Banda has said the ruling Movement for Multiparty Democracy (MMD) has a lot to learn from the Communist Party of China (CPC) in its bid to accelerate development. Full Story.

* Kenya’s first 8-lane modern highway born- Standard (KEN)
The construction of an eight-lane highway on Thika Road begins on Monday. This follows the Government’s signing of a Sh27 billion contract with three Chinese road construction firms. Full Story.

* Hurry up, wait and renegotiate- Africa Asia Confidential (GBR)
Gabon’s politicians continue to question the delays in the starting-up of the Bélinga iron ore mine and its associated infrastructure works. But financing issues and constant threats of renegotiation have not inspired confidence. Full Story.

* China’s positioning in the Kosmos- Africa Asia Confidential (GBR)
Although Chinese companies have not yet bid for Kosmos’s 30% stake in Ghana’s Jubilee field, the China Development Bank has bought Beijing’s companies a great deal of capital. Full Story.

* Beijing’s bankroll for Bong’s ore- Africa Asia Confidential (GBR)
The China Development Bank promises to save China Union’s US$2.68 Bong Mine project but will take an 85% stake to provide the finance and pay Monrovia. Full Story.

* All that glitters is mine- Africa Asia Confidential (GBR)
The details of the US$8 billion China Sonangol/China International Fund are becoming more apparent as subsidiary deals are signed. Full Story.

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