Weekly news

17/02/2010 to 23/02/2010

All last week’s China Africa developments:

* Global recovery renews interest in Kenya’s EPZs – Business Daily (KEN)


Investor interest in Kenya’s Export Processing Zones has nearly doubled in the past six months, brightening growth prospects for the country’s nascent exports sector and promising new jobs for the ever rising number of unemployed youth. Full Story.


* SA intercepts arms shipment – News 24 (ZAF)


New York – South Africa has told a UN Security Council committee it intercepted a North Korean weapons shipment bound for Central Africa, which diplomats said was a violation of a UN ban on arms sales by Pyongyang. Full Story.


* Ecobank woos regional businesses – Business Daily (KEN)


The local business community can look forward to improved financial transactions as Ecobank plans to offer businesses a common platform for cross-border transactions. Full Story.


* Chinese firm compensates Jabana residents – New Times (GHN)


Months after Kigali City Advisory Council grilled Mayor, Dr. Aisa Kirabo Kacyira over her negligence in addressing the concerns of Jabana residents, the Chinese construction firm at the centre of the conflict has agreed to compensate the residents this week. Full Story.


* China Unicom denies bidding for Nitel – Business Day (ZAF)


CHINA Unicom insisted yesterday it had never entered formal negotiations in a 2,5bn bid for Nigeria’s former state-owned monopoly Nigerian Telecommunications (Nitel). Full story.


* Chinese, Indian Firms Dominate Two Habesha Cement Bids- Addis Fortune (ETH)

One Indian and four Chinese companies offered tenders for the engineering, procurement and construction (EPC) of Habesha Cement Factory. 
Full Story.

* Chinese Bid of 415 Million Br Wins Bahir Dar Complex Construction- Addis Fortune (ETH)

Chinese company Jiangsu Construction beat six local and international contractors to win a 415 million Br project from the Amhara Regional State. Full Story.


* Construction of 600 MW Morupule B Power Station Begins- Mmegi (BWA)
Construction of the 600 mw Morupule B phase 1 power station has begun with the first output expected in January 2012. Full Story.

* ‘China’s Investments in Nigeria Hit $7 Billion’- Daily Trust (NGA)

China’s investments in Nigeria are worth $7.24 billion, its Economic and Commercial Counsellor in Nigeria, Mr Rong Yanson, has said. Full Story.


* President Hails Sino-Govt Ties- The Herald (ZBW)
Zimbabwe will always cherish its friendship and the assistance it has received from China from the days of the liberation struggle to date, President Mugabe has said. Full Story.

* Chinese Firms Will Fail Federal Govt on Nitel – Atcon Boss- Daily Independent (NGA)
First Vice President of the Association of Telecommunications Companies of Nigeria (ATCON), Adebayo Banjo, has declared that New Generation, a Chinese consortium that secured the nod of Bureau of Public Enterprise (BPE) with $2.2 billion to acquire 75 per cent of the Nigerian Telecommunications outfit (NITEL) and Mobile Telecommunications Limited (M-tel), will disappoint the Federal Government when it mattered most. Full Story.

* China threatens to cut aid to Zimbabwe – Africa news (NED)


China has told the Zimbabwean coalition government not to expect further loans from Beijing until it pays its existing debts. Chinese authorities have cautioned that China will not lend out any further money to Harare until after it has cleared an outstanding debt amounting to billions of dollars. Full story.


* Nigeria-China trade hits $6.5b, says envoy – Vanguard (NGA)


Mr Rong Yansong, China’s Economic and Commercial Counsellor in Nigeria, says that the trade volume between China and Nigeria hit $6.5 billion  in 2009. Yansong said this on Friday at a news conference in Kaduna. He said that the Chinese Embassy specified the amount in the trade statistics it compiled during the trade review for the year. Full story.


* China throws birthday bash for Zimbabwe’s Mugabe – Business Report (ZAF)


China said on Monday its embassy in Zimbabwe had thrown a birthday party for President Robert Mugabe, a rare sign of foreign support for a leader reviled by many Zimbabweans and criticised by the United States and Europe. Full Story.


* Akosombo Textile Limited appeals to TOR for regular supply of black oil – Ghana Web (GHN)


Akosombo, Feb.22, GNA – Management of Akosombo Textile Limited (ATL) has appealed to the Tema Oil Refinery (TOR) for regular supply of black oil to enable the factory to produce at full capacity. Full Story.

* SA delegation to visit China Business Report (ZAF)


nternational Relations and Co-operation Minister Maite Nkoana-Mashabane will visit China for two days later this week for continued discussion around business and economic issues, her office said on Monday. Full Story.


* Investment – Namibia to ban small inflows – Business Report (ZAF)


Namibia will ban foreign investment in small- and medium-sized public transport businesses and in hair and beauty salons because of increased Chinese involvement in these industries. Full story.


* Tullow says Uganda oil output could be doubled – Daily monitor (UGA)


A pipeline will need to be built to move crude to the Kenyan coast for export to markets around the world. The government is also interested having a refinery built, which could result in the export of oil products to regional neighbours. Full Story.


* Standard Bank, ICBC Plan Cash Mgt Forum – This Day (NGA)


Stanbic IBTC Bank Plc, a member of the Standard Bank Group and the Industrial and Commercial Bank of China (ICBC), have concluded arrangements to hold a cash management forum in Nigeria early March this year. Full Story.


* ‘Telecom New Zealand, Party to NITEL Deal’ – This Day (NGA)


Brymedia, one of the bidders for the Nigerian Telecommunications Ltd NITEL has reiterated  that Telcom New Zealand  is part of the Brymedia consortium despite earlier denials by the New Zealand firm that it had no knowledge of the deal. Full Story.


* Chinese new year celebrated – New Vision (UGA)


Members of a dance group browse the net from one of the computers provided by the BroadBand Company during celebrations to mark the Chinese new year at Fang Fang Hotel, in Kampala last week. BroadBand, whose technical partners are the Chinese firm ZTE Corporation, will soon introduce VOIP, IP video conferencing and data warehousing. Full Story.


* A Few Points on Peace and Security in Africa- FOCAC (CHN)

Africa is the largest developing continent with an major role to play in world peace and development. In recent years, African peoples have been yearning for peace, stability and development in this continent. Full Story.


* China reaps reward of Zambia copper investment- BBC (GBR)
Around this time last year Zambia, Africa’s top copper producer, was feeling the chilling effects of the global economic recession. Full Story.

* Kenya and Tanzania disagree on ivory trade – Daily Nation (KEN)


Lobbying on the status of international trade in ivory has intensified ahead of next month’s 15th Convention of International Trade in Endangered Species (CITES) in Doha, Qatar. Full Story.


* China Unicom Denies Involvement In Nitel Bid – This Day  (NGA)


In a curious twist, China Unicom (Hong Kong) Ltd, previously named a member of the New Generation Consortium that emerged the preferred bidder for 75 per cent stake in moribund Nigerian Telecommuni-cations Limited (NITEL) with a $2.5bn bid, has denied knowledge of the deal. Full Story.


* Beijing Consensus: No strings attached? – Pambazuka news (KEN)


Africa’s bargaining power has been increased, as Chinese interests open up alternatives to US and European investment in the continent, writes Khadija Sharife.

Full Story.


* Zoellick on his Africa tour – Pambazuka news (KEN)


The World Bank president Robert B. Zoellick just ended an African tour that took him to Sierra Leone, Cote d’Ivoire, and Ethiopia. Full Story.


* Indian and Chinese investors making a play for Africa – Pambazuka news (KEN)


As the great and good of the mobile industry browsed the exhibits at the Mobile World Congress trade show in Barcelona this week, they may have overlooked a couple of watershed moments in emerging-market telecoms, writes Matthew Reed. Full Story.


* Kinshasa’s missing millions – Pambazuka news (KEN)


Evidence of grand corruption is mounting in Beijing’s showcase $6 billion barter deal with the Kinshasa government. Full Story.


* China Unicom denies involvement in Nigeria bid- FT (GBR)


Nigeria’s decade-long drive to sell Nitel, its former telecoms monopoly, was again in disarray on Thursday as groups named in the consortium behind a $2.5bn bid denied involvement. Full Story.


* Consortium led by China Unicom named preferred bidder for 75% of Nigerian phone company – – Business Day (ZAF)


China Unicom and its bidding partners may buy 75% of Nigerian Telecommunications for 2,5bn to enter Africa’s fastest- growing telecoms market.. Full Story.


* Africa beats China in valuation, says DWS Business report (ZAF)


Investors should prefer Africa over China to benefit from undervalued stocks because markets are overstating Africa’s political risk, a fund manager at Deutsche Bank unit DWS said.. Full Story.


*  Ship operating in illegal waters arrested by Navy – Ghana Web (GHN)
The Western Naval Command (WNC) has arrested four Chinese and 25 Ghanaians for fishing within illegal waters. Full Story.

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