Africa

[winston]

China announces $20bln in loans to Africa

China's President Hu Jintao announced $20 billion in fresh loans to Africa in a speech to a Beijing forum on co-operation between the Asian powerhouse and the resource-rich continent.

Hu, giving an opening address to an audience of African leaders on Thursday, said the loans would focus on supporting infrastructure, manufacturing and the development of small businesses in Africa.


Source: AFP Global Edition

[kennynah]

maybe a smart move to economically "invade" Africa, a continent of vast natural resources

[winston]

So do you think the Chinese are creating good-will or ill-will in Africa ?

Chinese mine boss killed in Zambia riot

Zambian workers killed a Chinese mine manager and injured his colleague in a riot over wages at a mine known for tensions with the Chinese investor in southern Zambia, state media reported.

http://www.thestandard.com.hk/news_deta ... 20806&fc=1

[winston]

not vested

Africa: The Last Investment Frontier

It's risky business, but Africa's growth is hot enough to brave it

By Charles Sizemore


[quote]The African continent has a population of more than a billion people, making the continent bigger than the United States and European Union combined.

But before we get too excited, we should remember that the entire lot of them, are not exactly queuing up to buy iPads and frappucinos. The World Bank estimates that 47% of Sub-Saharan Africans live on less than $1.25 per day.

But before you write Africa off as being too poor to be worthy of consideration, consider that India — which has been a favorite emerging-market destination for investors for years — has nearly comparable levels of poverty.

The World Bank estimates that 36% of South Asians live on less than $1.25 per day. And we also should remember that China had similar levels of poverty just a few decades ago.

http://www.investorplace.com/2012/08/af ... en=3879240

[winston]

How to have confidence in such country ? They shoot your colleagues and then accuse you of causing their death

And this is in South Africa, one of the most developed country in the continent ...

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Charges dropped against 270 South African miners accused in deaths of colleagues, says country's top prosecutor.

Source: CNN International

[winston]

IMF upgrades growth in Africa to 5.7% from 5.3%

Source: CNBC

[winston]

S. Africa CB Unexpectedly Raises Rates By 50 Bps

South Africa's central bank joined its emerging market peers in raising interest rates amid the recent rout in their currencies.

The Monetary Policy Committee of the South Africa Reserve Bank, led by Governor Gill Marcus, raised the repurchase rate by 50 basis points to 5.5 percent.

Economists had expected the bank to leave the rate unchanged at 5 percent.


Source: RTT

[winston]

China premier says Sino-Africa disputes just "growing pains"

BEIJING (Reuters) - Disputes arising over China's investment projects in Africa are just "growing pains" in a burgeoning relationship that saw their trade top $200 billion last year, Premier Li Keqiang said on Sunday ahead of a tour of the continent.

http://www.thestar.com.my/News/World/20 ... ing-pains/

[behappyalways]

China Inc. Starts to Move Its Factory Floor to Africa
http://blogs.wsj.com/chinarealtime/2014 ... to-africa/

[behappyalways]

Brics malaise deepens as South Africa nears recession
http://www.telegraph.co.uk/finance/fina ... ssion.html