Browsing: FOCAC

• China pledges closer economic and trade ties with Africa at 2024 FOCAC Summit.
• Mulit-million dollar deals signed between Africa and China at key summit.
• Annual trade volume between China and Africa to reach $300Bn by 2035

The just concluded Forum on China-Africa Cooperation (FOCAC) Summit has opened new possibilities for Tanzania and Africa’s industry as a whole. Held in Beijing, China, this ninth summit was attended by all 53 African Heads of State or their representative hosted by Chinese President Xi Jinping.

The FOCAC summit has seen President Xi pledge over $50 billion in aid and loans to support what he described as “Africa’s modernization efforts.” He highlighted key funding areas to include infrastructure and agricultural development over the next three years. Notably, President Xi said this new commitment is in addition to China’s zero-tariff policy that was announced earlier to boost trade volume between Africa …

An action plan totalling US$40 billion in trade finance, commercial investments, and a share of Chinese SDRs was announced at the Forum on China-Africa Cooperation (Focac) in late November (SDR).

Despite the eye-catching headline, the actual amount pledged at the two most recent forums in 2015 and 2018 is far less than the US$60bn promised.

China has used concessional loans to fund a wide range of continent-wide infrastructure projects, including trains, airports, highways, and power plants.…

Huawei puts China in a data superiority position in its involvement in countries’ sensitive information. 

China is establishing dominance in digital models. In June, Nigeria banned and dumped Twitter in the country, and has drawn parallels with China in their censorship model development. 

According to Abishek, the data centre in Senegal is one of the many being built by Chinese firms to help Africa keep up with social and economic changes that are pressuring the infrastructure on the continent. …

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 …

The Tanzania Trade Development Authority (TanTrade) said in a statement issued on Wednesday that the country is set to participate in the first China-Africa Economic and Trade Expo to be held in Changsha, the capital of central China’s Hunan province between 18^th and 20^th June, 2019.

The body has also urged the local companies to grab the `golden chance` provided by the trade expo which will focus on trade, investment, finance, agriculture, mining, energy, tourism and infrastructure.

Officials will sign bilateral agreements during the exhibition, engage in investment promotions, and establish a “new mechanism” for future economic cooperation.

The expo is part of a slew of promises made by president Xi Jinping during last September’s Forum on China–Africa Cooperation (FOCAC) in Beijing. During his speech to African leaders, President Xi proposed eight initiatives aimed at pursuing a “win-win” strategy giving new impetus to economic, political, and security collaboration. …