Month: September 2021
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ICBC Launches New China-Africa Currency Center in Hunan
The Industrial and Commercial Bank of China (ICBC) in Hunan province launched a new cross-border China-Africa currency center on Tuesday to facilitate transactions between Chinese yuan and six African currencies including the Kenyan shilling, Nigerian naira, Botswanan pula, Ghanaian sedi, and the Zambian kwacha.
Check Out What Exhibitors Are Selling at This Year’s China-Africa Trade Expo in Hunan
A big part of Chinese trade expos, like the one that's taking place this week in Hunan, is the opportunity to sell stuff... lots and lots of stuff. Thousands of local residents flood the exhibition floor at these fairs to taste ...
Three Years Since Ghana Signed That Big Bauxite-For-Infrastructure Deal With China and Not One Road Has Been Built Yet
A fierce debate broke out this week in Ghana over the status of the 2018 bauxite-for-infrastructure deal with China and the fact that three years later, not a single road has been built. Opposition MP Cassiel Ato Forson, the ...
Chinese Sources Refute Story That a Chinese National Was Jailed For Insulting the DR Congo’s Mining Minister
Chinese sources in the Democratic Republic of the Congo are challenging reports first published by human rights activist Géorges Kapiamba that Wang Haifang, a Chinese national, was sentenced to three months in jail and fined $500,000 for insulting the Minister of Mines Antoinette N'samba. ...
Ford’s CEO is Unhappy with China and the DRC’s Control Over EV Supply Chain
Ford chief executive Jim Farley said the cost of electric vehicles remains too high, in part because of the cost of importing key raw materials like cobalt from the Democratic Republic of the Congo and relying on batteries made in China. Instead, Farley called for both to ...
Slowly, More Chinese COVID Vaccines Are Landing in Sub-Saharan Africa
China's total vaccine shipments to Africa now total 61.9 million doses (both sold and donated) with more shipments going to sub-Saharan countries including deliveries of more than a million jabs each to Tanzania and Zimbabwe. Although not included in
Grappling with African Success
This week saw the second China-Africa Economic and Trade Expo, held in Changsha, the capital of China’s Hunan province. As we’ve covered over the last few years, the city is rapidly emerging as a hub of Africa-China trade. It houses a new cocoa trading facility and is ...
Q&A: What Lessons Can the DRC Learn From Ghana’s Experience Combatting Illegal Chinese Mining Activities?
In the last few weeks, we have witnessed heightened campaigns against illegal mining activities associated with Chinese companies in the Congolese provinces of Ituri and South Kivu. Several Chinese miners were arrested in the far Eastern Ituri province where it is believed that an unknown number ...
Congolese Ministers Deliver Mostly Favorable Report to President on Chinese Infrastructure
Two Congolese ministers delivered a largely upbeat assessment of the status of Chinese infrastructure projects tied to major mining contracts in a key report for President Félix Tshisekedi at the latest cabinet meeting on Friday. Infrastructure and Public ...
Tshisekedi Was the Only African Head of State That Got an Audience With Blinken, China Not on the Agenda
Senior U.S. officials, including President Joe Biden, were surprisingly averse to meeting with African heads of state who were in the United States last week for the United Nations General Assembly meetings in New York. ...
Prominent Peking U Finance Professor Warns Evergrande Crisis Could Impact China’s Raw Material Suppliers
So far, shock waves from the massive implosion of the $305 billion property development group China Evergrande have not been felt abroad, but that could soon change if the crisis forces Beijing to retrench, warned a leading Peking Univesity finance professor.
Now It’s Huawei That’s in Trouble in the DR Congo
Telecom giant Huawei is now the latest Chinese company to be embroiled in controversy in the Democratic Republic of the Congo. The company is to appear again in the Gombe Commercial Court in Kinshasa to settle a bitter feud regarding a 2018 judgment against ...