Browsing: China- Africa Relations

• China Henan International Cooperation failed to to disclose the use of a commission agent while submitting a bid.
• The ban on Chinese firm reflects broader concerns about the nature of China-Africa economic relations.
• The move follows the conclusion of a negotiated settlement agreement with the Chinese company.

The African Development Bank (AfDB) has suspended Chinese firm, China Henan International Cooperation Group Company Limited, from undertaking any contracts in Africa for the next one year.

The move follows the conclusion of a negotiated settlement agreement with the Chinese company putting an end to sanctions proceedings for a fraudulent practice against China Henan International Cooperation.

In the directive, pursuant to the negotiated settlement agreement, China Henan International Cooperation Group Company Limited, registered in China, will be debarred for a period of 12 months, effective 28 March 2024.

“An investigation conducted by the Office of Integrity and Anti-Corruption of the African Development Bank …

• China’s economic slowdown will affect Africa since the Asian country is the largest single-country trading partner.
• As China experiences a notable economic slowdown, the IMF asserts that sub-Saharan African countries must proactively respond to the shifting geo-economic landscape.
• The IMF says a promising avenue lies in tapping into the robust demand for minerals crucial for renewable energy development.

China—Africa’s largest single-country trading partner—is experiencing an economic slowdown. And this matters a lot for policymakers in Africa. As China grapples with a second consecutive month of contracting manufacturing activity posted in November, the implications stretch far beyond the borders of the Asian country.

China’s purchasing managers’ index (PMI) stumbled to 49.4 in November, a slight dip from October’s 49.5, falling short of economists’ expectations of 49.7. This statistical swing around the pivotal 50-point mark, which separates contraction from expansion, paints a nuanced picture of an economy needing stimulus to revive growth …

In a significant move to bolster Africa’s economic landscape, the China Development Bank (CDB) and the African Export-Import Bank (Afreximbank) have embarked on a collaborative journey in Cairo. The outcome of this partnership centers around a $400 million loan. The loan will catalyze the growth and prosperity of small and medium-sized enterprises (SMEs) across Africa.…

• The United States has been working to increase its economic and political engagement with Africa in recent years.
• Yellen arrived in Dakar, fresh off a nearly three-hour meeting with China’s vice premier Liu He.
• The Biden administration is trying to counter China’s growing influence and infrastructure in the region by offering African countries an alternative path on economic and political security

US-Africa relations have been on the rise in recent years, and the recent visit by US Treasury Secretary Janet Yellen to Senegal has further solidified the commitment of the United States to expand economic opportunities for all in Africa.

Yellen’s visit to Senegal, which took place on January 18, 2023, was a clear demonstration of the importance the United States places on its relationship with Africa. During her visit, Yellen met with young entrepreneurs and business leaders, and delivered a speech emphasizing the potential of Africa’s young entrepreneurs and …

Egypt-China ongoing cooperation hits $1.8 billion according to Egypt’s Ministry of International Cooperation.

According to a press statement from the ministry, the cooperation is directed towards the execution of several development projects across various sectors such as education, electricity, technical education, health and agriculture.

Egypt has carried out over 1,100 training programs with China over a period of four years which has benefited over 4,000 government officials. This is in addition to 25 training programs in high priority fields which benefited government units in the fields of health, water resources, population and agriculture.

Egypt’s Minister of International Cooperation Rania Al-Mashat said that the ministry is keen on enhancing the exchange of knowledge, technical assistance and expertise within the framework of its international partnerships with multilateral and bilateral development partners while supporting the country’s vision in building human capacity.

The ministry is working towards advancing economic cooperation with bilateral and multilateral …

Globalization has encouraged open trade between continents. In a bid to gain economic dominance, the top industrialist nations have engaged in sometimes aggressive foreign policies to secure natural resources to support their growing industries. Although this is not entirely negative, there needs to be an objective analysis of whether such relations are mutually beneficial, or one party is left prejudiced while the other has gained. 

One such relationship that has garnered controversy over the past few decades is the China-Africa affiliation. This article will analyze relations between China and Africa in the context of the political, economic, and ecological environments.

Chinese interests in fostering African relations

Africa enjoys the second largest Chinese investment, after Asia. The predominant reason for this being that Africa is endowed with an abundance of natural resources and China is eager to benefit from these resources in its pursuit of economic dominance. The main interests that …

China has a well-established presence on the African continent. On the positive side, a lot of infrastructure development taking place is a direct result of Chinese funding. In addition, several big Chinese companies have taken root in Africa becoming significant contributors to employment and GDP. Examples include Citic Constructions, Sunshine group, and FAW. Mckinsey and Company research group estimates that in 2012 there were over 10000 Chinese-owned companies operating in Africa, the number has since increased. 

However, there has long been suspicion around Chinese funding, especially through debt as most deals are shrouded in mystery and hidden behind closed doors. One example is Zambia’s current debt conundrum, in which reports indicate the country owes China large sums of money but circumstances around the debt are unclear in terms of the duration and the cost. 

Additionally, indications are that some of the debt facilities come with collateralized arrangements in which Africa …