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Congo-born Chinese Siblings Raise $7.5 Million to Build Crypto-Powered Super App of Africa

The Congo-based cryptocurrency & blockchain (aka web3) start-up raised $7.5 million in seed funding. The company was founded by James Zhang and his sister, also born in the Congo, who saw the opportunity for blockchain-enabled applications in the gaming and education sectors that are becoming increasingly popular ...

Ethiopia’s Ambassador to China Stops by the China Africa Development Fund HQ in Beijing

Chinese infrastructure financing in Africa may be down sharply compared to a few years ago, but it hasn't stopped altogether. That might explain why Ethiopia's envoy to China, Teshome Toga, paid a visit to the offices of the China Africa Development Fund (CADF) to discuss infrastructure investment ...

Another African EV Start-Up Using Chinese Technology Gets Seed Funding

Kenya-based EV start-up BasiGo closed a $4.3 million seed funding round to assemble and sell electric-powered buses. The company plans to supply more than 1,000 mass transit electric buses to operators throughout Kenya over the next five years. Those buses, incidentally, will all be supplied ...

Building the Infrastructure African Residents Deserve

Over a recent holiday season, I made a trip to the western region of Sichuan province in China. It is at the eastern edge of the Tibetan Plateau and the Hengduan Mountains, with a ground elevation of 4,000-4,500 meters, slightly above Kilimanjaro’s Shira Mountains (3800 meters). That ...

Argentina Joins Belt & Road as Part of a Full Embrace of China (and Russia)

Argentinian President Alberto Fernández met for 40 minutes with his Chinese counterpart Xi Jinping in Beijing on Sunday, in what appears to be a major foreign policy shift for Latin America's fourth-largest economy. First, and most importantly, Argentina signed on to become the 

Uganda Hosts Trade and Investment Forum in Beijing

The Ugandan embassy in Beijing and the Chinese Ministry of Foreign Affairs convened a hybrid on and offline conference on Friday to discuss how to boost Chinese trade and investment in the East African country. High on the agenda were the ...

China Remains Africa’s Largest Source of FDI and Job Creation, Says EY’s Annual Investment Report

China was the leading source of foreign direct investment in Africa from 2016 to 2020 in terms of both jobs and capital invested, but third behind the United States and France in terms of the number of projects, according to Ernst & Young (EY)'s ...

How a Port Expansion in a Tiny, Self-Declared African Country Reverberates Around the World

One of the key discussions in the run-up to the Forum on China-Africa Cooperation summit is whether China is stepping away from funding large-scale infrastructure projects like roads and ports.  So it was particularly interesting to see the announcement this week of ...

Africa Accounts For Just 1.7% of China’s Total Global Investment Stock, Says MOFCOM

Even amid the pandemic, Chinese investment overseas last year increased by 12.3% to $153.71 billion, according to a new report published last week by the Ministry of Commerce, National Bureau of Statistics, and the State Administration of Foreign Exchange. 2.8% of ...

Week in Review: Debt, Arrests and Market Expansion

Zambian President Hakainde Hichilema will head to Washington soon to meet with officials from the IMF and World Bank in an effort to secure a new financing package. The Zambian leader spoke at the UN this week and met with U.S. Vice President Kamala Harris in New York.While President ...
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