First Independent Mena Newspaper
Fresh allegation has resurfaced in Nigeria that Chinese firms operating in the West African country employ prisoners from China, but although the validity of the rumor is questionable, the presence of large numbers of Chinese workers laboring on infrastructure projects built by Chinese companies is one of the most controversial aspects of China’s economic engagement […]
As Kenya is moving closer to sealing an Economic Partnership Agreement (EPA) with the European Union, the East African economic powerhouse has also announced the possibility of a $1bn loan from China that could be used to help pay off a $2bn Eurobond repayment that is due in June next year. Kenya’s economic partnership deal […]
South Africa’s government announced on Tuesday (12 December) plans to increase the country’s nuclear power production, with bids sought from the United States, Russia, France, China and South Korea, just as Korean nuclear energy companies are lining up to win business from different African countries in the face of stiff competition from its rivals. To […]
While China has announced plans to boost the use of the Chinese currency renminbi in Southern Africa, part of Beijing’s efforts to diminish use of the dollar, a new study by Carnegie Endowment for International Peace (CEIP) highlights a number of major obstacles that stand in the way of BRICS’ de-dollarization efforts. In a visit […]
China’ Customs Tariff Commission announced earlier this week the removal of tariffs for taxable products from six African countries, State-run Xinhua news agency reports. The move aims to embody the spirit of China-Africa friendship and cooperation, and facilitate a high-quality China-Africa community with a shared future, the commission reportedly said. Under the measure to be […]
The European Union should work together with African countries to reform the World Trade Organization’s (WTO) subsidy rules as a way to tackle the global distortions of China’s state capitalism, the German Economic Institute (IW) argues in a new report. The research report entitled ‘Reforming WTO’s Subsidy Rules: a New Opportunity to Tackle the Global […]
Tanzania’s Foreign Direct Investment (FDI) figures went up almost twofold year-on-year to $1.05 billion between July and September against $524.4 million in the same period last year, a positive development that is widely attributed to growing investor confidence in the East African country. Released by the state-run Tanzania Investment Centre (TIC) in its quarterly bulletin […]
Nigeria, Africa’s largest economy, is seeking the exclusive BRICS membership to enhance its global economic influence that would also allow it to loosen its ties with the West, according to experts. According to Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, the West African country hopes to join the influential economic alliance within two years, stressing […]
As African leaders converged on Germany’s capital earlier this week to attend the G20 ‘Compact for Africa’ meeting, the African Union (AU) chief called for “positive competition” from Europe in the continent, which would be more welcome than its criticism of Chinese investments for saddling poor countries with huge debts. While addressing the high-level meeting […]
China’s car parts maker Citic Dicastal opened its third factory in Morocco in Kenitra worth 180 million euros to manufacture aluminum chassis parts. The new factory spans over 20,000 square meters and employs 1000 people. It has an annual production capacity of 5 million units, of which 90% will be exported to Europe. This plant […]