Category: Business

The Kenyan mobility startup BasiGo has assembled its first electric buses, using components from the Chinese automaker Build Your Dream (BYD). BasiGo closed a $4.3 million seed funding round in February to assemble and sell electric-powered buses. The company plans to supply more ...

Shenzhen-based African mobile phone giant Transsion provided a rare glimpse into its financial performance in a disclosure document that went out to 244 Chinese institutional investors. Even though Transsion is a publicly-traded company on the Shanghai Star Exchange, it nonetheless behaves like a lot of Chinese firms by ...

Kenya's embattled currency, the shilling, sank even further on Monday, dipping to an all-time low of 115 against the U.S. dollar, prompting renewed concerns that the country will soon face a dramatic economic reckoning.  The problem is that every time the shilling ...

The Angolan government is currently deciding which of two China-linked consortiums will manage a transport link that could significantly speed up shipments of strategic minerals from the Democratic Republic of Congo. The corridor includes the Chinese-built 1,344 km Benguela rail line ...

Brazil’s Central Bank increased its reserves of Chinese renminbi (RMB) fourfold last year. It is the latest indication that the RMB is set to become much more influential in the global financial landscape. A survey last week indicated ...

Unsuspecting shoppers at the fish markets in the western Kenyan city of Kisumu on Lake Victoria have been buying frozen imported fish from China that's being passed off by unscrupulous vendors as fresh catch. When reporters from ...

The growing excitement in the Kenyan capital about the upcoming inauguration of its new Chinese-built Nairobi Expressway is also spawning a flurry of viral rumors. On Tuesday, The Standard newspaper published a fact-check article that debunked reports that the expressway has already opened to traffic. This followed widely ...

The Chinese embassy in Zimbabwe renewed its critique of local and Western media’s ‘slander’ against Chinese companies in the country in a lengthy post published Wednesday on its website. Under the headline "False News and Truth," it listed examples of what it called "irresponsible" reporting ...

Sixteen armed attackers robbed a Chinese-owned brick factory last week outside of Harare, injuring two employees, one Zimbabwean the other Chinese. No arrests were made as the assailants fled before the police arrived, according to a report on the Zimbabwe Chinese Network WeChat page. ...

A new Chinese motorcycle factory has kicked off in Angola, one of several new automotive ventures in African countries. The Chinese state-owned heave vehicle company Sinotruk announced a new $20 million assembly line in Tanzania, while China's First Automotive Works (FAW) has also started producing trucks in ...

Standard Bank, one of South Africa’s major banks, is looking to exit a joint venture with the Industrial and Commercial Bank of China (ICBC.) The joint venture, the London-based ICBC Standard Bank Plc (ICBCS), long represented the largest Chinese investment on the continent.

Macharia Kamau, Kenya’s Principal Secretary to the Ministry of Foreign Affairs and the country’s former delegate to the UN, says the solution to Chinese imports flooding Kenya’s fish market isn’t to stop imports. Rather, he urged the East African country to move more aggressively into sea fishing. ...