Category: Economy

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 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 ...

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.

Interpol has canceled the red notice arrest warrant requested by China for Uyghur activist Yidiresi Aishan, who was detained in Morocco last month. The red notice flagging Aishan as a member of “terrorist” organizations, and issued at China’s request, led Moroccan authorities to detain the 33-year-old computer ...

U.S. special climate envoy John Kerry will be in China next week to pressure the government to renounce all future financing of coal power plants around the world. Although China generally does not respond well to foreign demands like ...

With cryptocurrencies becoming more popular around the world, China is now moving quickly to establish its own digital currency as a global standard, particularly in emerging markets like Africa where the mobile payment sector is booming. Early on, Beijing outlawed the ...

Nigeria's once-thriving textile sector is now fast disappearing due largely to competition from Chinese imports. But don't blame the Chinese, said Mansur Ahmed, president of the Manufacturers Association of Nigeria, who puts a lot of the responsibility for the industry's demise squarely at the ...

A peaceful transfer of power took place in Lusaka on Tuesday when opposition leader Hakainde Hichilema (photo) became Zambia's seventh president in the post-colonial era. President Hichilema made clear right from the start that the economy, specifically reducing the country's heavy debt load, will be ...

China's crude oil imports from Africa fell sharply last month with demand expected to remain flat through the third quarter. Overall, shipments from African exporting countries fell 5.1% from June and but plummeted 41.5% compared to the same time last year. ...

The Ethiopian Ministry of Finance (MOF) is bundling together the debts of six of its largest state-owned enterprises and will transfer the liability for these debts from the firms to the MOF itself. No mention, though, was made at 

The huge state-owned power construction company China Three Gorges Corporation (CTG) signed a small $31.22 million contract last week to upgrade a pair of substations outside of the Ghanaian capital Accra. For a company as large as CTG a deal like this is financially insignificant, but it ...

A lot of major developments this week in the China-Africa space following Zambia's landslide election victory for opposition leader Hakainde Hichilema and new debt repayment challenges in Kenya for the embattled Standard Gauge Railway.