Weekly news

31/08/2009 to 06/09/2009

All last week’s China Africa developments below: 

* Tiomin to offload 70pc stake in its Kwale plant- Standard (KEN)
Tiomin Resources has relinquished control of the controversial Kwale titanium mining project to Jinchuan Group of China. Full Story.
* China pledges more backing to Kenya- Daily Nation (KEN)
China will support Kenya to overcome challenges posed by the current global economic crisis, incoming Chinese Ambassador to Kenya Deng Hongbo has said. Full Story.
* Ogun Showcases Mineral Resources in China- This Day (NGA)
Ogun State would soon become a major exporter of raw materilas to China, as six of the minerals found in the state have attracted interest of major industrial concerns in the far East country. 
Full Story.
* FG Revives Railway Project, Approves N27bn- This Day (NGA)
In a surprising move, the Federal Government has approved N27 billion for the rehabilitation and purchase of railway facilities including new locomotive engines. Full Story.
* Cheap but costly medicine- Monitor (UGA)
Drugs and other medical supplies meant to be distributed free of charge to government hospitals are ending up on sale in the open market, Sunday Monitor can reveal.

Full Story. 

* China donates food worth 625m- to Tanzania- Guardian (TZA)- Guardian (TZA)
Chinese Ambassador to Tanzania Liu Xinsheng yesterday handed over food aid to Tanzania through the United Nations World Food Programme (WFP) that will assist Tanzania’s low-income and food-insecure communities in several regions. Full Story.

* Jean Ping to visit China- Walta Information (ETH)
The African Union (AU) Commission Chairman ,Jean Ping ,will visit China from Sept. 7 to 11, as guest of the Chinese government, Xinhua reported. Full Story.
* China sets $100bn trade goal with EAC- Business Daily (KEN)
According to the country’s envoy to Tanzania, Mr Liu Xinsheng, the Asian country has set a trade volume target of $100 billion with EAC states by 2010. In 2006, the trade volume was estimated at $55.5 billion. Full Story.
* Chinese firm takes control of Kwale titanium mines- Business Daily (KEN)
State-owned Chinese mining conglomerate Jinchuan has acquired a controlling stake in Tiomin Kenya Limited, renewing hope that the Kwale titanium mining project that has been in limbo for more than 10 years will finally start. Full Story.

* Africa’s Freedom Railway- Pambazuka (KEN)
The TAZARA railway has assumed almost iconic status as a symbol of the first heroic stage of China’s involvement in Africa and an ideologically inspired symbol of anti-imperialist solidarity, in contrast with today’s more pragmatic and market-driven Chinese engagement with the continent. Full Story.

* Chinese firm, Sinopec, concludes take-over of Addax, to change directors- Guardian (NGA)
China Petrochemical Corporation, otherwise known as Sinopec Group, has announced a successful acquisition of Addax Petroleum Corporation after nearly six months of due diligence and negotiation. Full Story.
* Chinese to invest in Olokola seaport- Daniel- Vanguard (NGA)
More Chinese investors have indicated interest in the development of a deep seaport at Olokola Free Trade Zone in Ogun. Full Story.
* Chinese officials size up long-term potential in Sino-African economic collaborations- Walta Information (ETH)
Although Sino-African trade had weakened during the global financial crisis, Chinese and African enterprises could strengthen their collaboration and emerge from the downturn together, Chinese trade officials said at a trade fair Wednesday. Full Story.

* China is keen for projects in Africa- Walta Information (ETH)
The China-Africa Development Fund announced that the 5bn Chinese government initiative to support business partnerships between Chinese and African entrepreneurs shows how China is hungry for African projects, allafrica.com reported. Full Story.
* Financial crisis has affected business between China and Africa- Journal de Angola (AGO)
The turnover between China and Africa fell 30.5 percent during the first half of 2009 as a result of the current global economic recession. Full Story.
* Chinese company promises to expand operations, help increase employment in Liberia- China View (CHN)
A Chinese company operating in Liberia Monday has unveiled its plans for the West African nation, promising to expand its operations to the mining, agriculture, and electricity sectors. Full Story.
* China, Angola vow to further military ties- China View (CHN)
China and Angola agreed here on Tuesday to further military ties. Full Story.

* Crisis no excuse to shelve port expansion plans — expert- Standard (KEN)
Kenyan port authorities must invest more in the facilities despite the crippling effects of the global economic recession. Full Story.

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