Month: August 2021

Related Posts

Even Amid a Pandemic, Chinese FDI in Africa Jumped Almost 10% Last Year

Chinese foreign direct investment in Africa increased by 8% in 2020 compared to the previous year, from $2.7 billion to $2.96 billion. Including the 2020 investments, the total Chinese FDI on the continent amounts to $47.4 billion, according to data in a new report published by the ...

Now That Chinese-Owned OPay Has Become Africa’s Third Tech Unicorn, the Magnitude of What Happened Last Week is Starting to Settle In

When the Chinese-owned African mobile money app OPay wrapped up a massive $400 million investment round led by Japan's Softbank and a who's who of Chinese venture capital firms, the magnitude of what happened hadn't really registered. Those investors now value ...

Chinese Vaccines Trickle Into Africa at a Slow, Steady Pace But Hardly Enough to Make a Big Impact

Chinese vaccine shipments to Africa increased by 2.4 million since last week to 56.3 million total doses delivered to date. As of this week, Africa accounts for just 8% of China's total global vaccine distribution, according to Beijing-based consultancy Bridge Beijing's latest vaccine tracker ...

China’s Ambassador to South Africa is Putting Himself in the Middle of the COVID Origin Dispute With the U.S.

China's ambassador to South Africa, Chen Xiaodong, is emerging as a key voice in the bitter dispute with the United States over the origins of COVID-19. The ambassador has steadily escalated his critiques of the U.S. for its claim that the ...

Meet Zhou Aile, An Aspiring Chinese Social Media Star From Gabon

Zhou Aile, or Paula as she's known back home in Gabon, first moved to China 13 years ago to study Mandarin. Since then, Zhou, like other ambitious young African expats, has been working hard to make a name for herself as a media personality, especially online where ...

Analysis from Cobus van Staden

How to Lure Chinese Financing Back to the Global South: Report

Global South countries face increasing financing pressure, endangering their ability to keep developing while also implementing measures to deal with a growing climate crisis. The disruption of global trade is coupled with a larger megatrend: flows of international capital to the developing world have turned negative. This means that countries are now routinely paying more to service loans than they receive in disbursements.

The vast majority of Global South borrowers ...

Africa-China Nerds, Get Ready!

Today was a landmark day for the China-Africa Project. We got to interview Wu Peng, the Director-General of the Department of African Affairs at the Chinese Foreign Ministry. Director-General Wu is China’s most senior official focusing on Africa, and it was a rare privilege to speak with ...

Can Africa Learn Anything From How China Runs Its State Companies?

As African countries work to rebuild their economies from the wreckage caused by the ongoing COVID pandemic, policymakers will be looking at what they can do to bolster their countries' state-owned enterprises (SOE). That may prompt them to examine China's model ...

The DR Congo Government Now Has Sicomines in its Sights as the Investigation Into Chinese Mining Contracts Advances

The Congolese government started its review of Chinese mining contracts trying to land a big fish, by launching a commission to investigate China Molybdenum's massive Tenke Fungurume (TFM) cobalt and copper mine in southern Lualaba Province. Now, the government ...

China’s Ambassador to the DRC Tries to Calm Tensions in Meeting With Mining Minister

Chinese ambassador to the DR Congo, Zhu Jing, paid a visit on Friday to Minister of Mines N'samba Kalambayi in an effort to calm rising tensions over videos depicting abuse of local employees, illegal mining activity and environmental ...

In Characteristically Bombastic Fashion, PRC Embassy Says Chinese Companies in the DRC Are the Victims of “Rumors and Slander”

The Chinese embassy in Kinshasa rallied to the defense of its embattled mining companies in the DRC, blaming recent controversies on "individuals who have fabricated stories and spread false information to attack and denigrate, without scruple and without any foundation, Chinese companies to incite hostility."

Zambia’s New Finance Minister Says a Deal With the IMF is Key, Avoids Any Mention of Chinese Debt

Zambia's newly-named finance minister Situmbeko Musokotwane said he's going to prioritize closing a restructuring deal with the International Monetary Fund because it would give creditors confidence and the government cheaper and longer-term financing. Musokotwane was appointed on Friday (the second ...

MSA Capital is the Chinese VC Firm to Watch When it Comes to Investing in African Start-Ups

Announcing yet another early-stage Africa-focused company being backed by the Beijing-based MSA Capital is becoming a monthly ritual. African mobile money start-up PawaPay is the latest to attract MSA Capital financing as part of a $9 million seed round.
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