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U.S. Government Launches New Investment Program With the Aim of Providing African Countries an Alternative to China

The U.S. International Development Finance Corporation (DFC) and the Washington, D.C.-based think tank The Atlantic Council organized a five-hour online conference on Friday to discuss a new, private-sector-led initiative that aims to drive more U.S. investment towards Africa. The "Investing in Africa's Future" seminar featured many of ...

Huawei’s CSR Efforts in Africa Are Surprisingly Successful

Chinese companies are generally not well known for implementing successful corporate social responsibility programs. CSR, for the most part, is still a relatively new concept in China. But Huawei's efforts in Africa, particularly since the beginning of the COVID-19 outbreak earlier this year, is proving to be ...

Meet Zhao Zhiyuan, China’s Unusual Incoming Ambassador to Ethiopia

China's newly-appointed ambassador to Ethiopia Zhao Zhiyuan will take up his new post in Addis Ababa soon where he will replace Tan Jian who left his post last month in what was described as a regular rotation. But Zhao comes to ...

The New U.S. Plan to Challenge Huawei is Dead on Arrival in Africa

The United States is stepping up its efforts to try and contain Chinese tech companies like Huawei with a new development financing program that aims to persuade countries in places like Africa to avoid using equipment made by the telecom giant. ...

Venezuela and the Chinese Debt Crisis in Africa

Even before the current economic crisis brought on by the COVID-19 pandemic there were widespread concerns about Chinese lending practices in Africa. The U.S. and other critics contend that Beijing is employing a predatory lending strategy where it intentionally loads up ...

G20 Agrees to Give Poorest Nations Just the Bare Minimum for Debt Relief

Finance ministers and central bankers from the Group of 20 wealthy nations agreed to a bare-bones debt relief package on Wednesday that will extend the G20's Debt Service Suspension Initiative (DSSI) by six months until June 2021. The group ...

Even the World Bank President Doesn’t Think the DSSI Plan Goes Far Enough

David Malpass isn't that happy with the G20's latest iteration of its Debt Service Suspension Initiative that delays loan repayments an extra six months until June 2021. The World Bank president is calling for more than just a repayment holiday, he also wants to see actual debt ...

China Is Now a Key Player in Zambia’s Worsening Debt Crisis

We'll know next week if Zambia is going to be the first African country this year to default on part of its debt, or if it'll get the repayment reprieve it's been asking for. It's clear that the country's financial fate now largely rests with China.

The U.S. Has Long Complained About Huawei’s Rise But Never Found a Way to Effectively Challenge the Chinese Tech Company. One DC Think Tank Has a Few Suggestions

The United States government is determined to try and hamper the Chinese tech giant Huawei's efforts to become the dominant player in next-generation 5G mobile connectivity, AI, and other technologies. In May, Washington added the company to its so-called "entities list" that effectively cut off the Shenzhen-based ...

Africa’s Trade With China is Tiny in Comparison to Other Regions Around the World

China may be a very important trading partner of the majority of African nations, but the same is definitely not true in reverse. In the first nine months of the year, China's total global trade amounted to $3.4 trillion, according to new figures released by China Customs ...

African Women Shine in the Chinese Super League

For the second year in a row, the Women's Chinese Super League (WCSL), China's professional soccer league, awarded its top prize to an African player. 20-year old Zambian forward Barbara Banda took home the Golden Boot this week thanks to an impressive 18-goal season with ...

G20 Finance Ministers Expected to Approve Multi-Billion Dollar Debt Freeze Extension For the World’s Poorest Countries

Finance ministers and central bankers from China, the United States, and other G20 countries are expected to release a communiqué on Wednesday, according to Reuters, which will extend the Debt Service Suspension Initiative (DSSI) beyond the end of this year. It's not clear, though, ...
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