Vol 3 (AAC) No 7 | MAURITIUSINDIA Round-trips and hot money 20th May 2010 Indian companies are routing tens of billions of dollars through Mauritius each year in a giant tax avoidance scheme India is changing its tax laws in a bid to introduce greater transparency into its financial transactions with Mauritius. The aim is to stem ‘round-tripping’ of funds by politicians, businessmen and...
Vol 3 (AAC) No 7 | MAURITIUSINDIA Tweeting Tharoor and the cricket controversy 20th May 2010 Minister of State for External Affairs for Africa Shashi Tharoor considered himself a modern diplomat for his embracing of the internet messaging website Twitter. Yet his tweets from...
Vol 3 (AAC) No 7 | NIGERIACHINA Oiling the gears 20th May 2010 Beijing’s biggest African offer yet is a risky gambit to gain a major stake in the upstream and downstream sectors of Nigeria’s oil business Equal measures of optimism and scepticism greeted China’s announcement of an agreement to build three oil refineries worth US$23 billion. The terms of the memorandum of understanding are clear; the...
Vol 3 (AAC) No 7 | GABONCHINA Beleaguered Bélinga 20th May 2010 Gabon’s huge iron mine project due to begin production in 2011 has been delayed again by the new government’s plans to renegotiate terms When Gabon’s President El Hadj Omar Bongo Ondimba was alive, his ministers had nothing but praise for the nearly US$4 billion Bélinga iron ore mine and associated logistics projects, described...
Vol 3 (AAC) No 7 | GHANASOUTH KOREA Building on oil money 20th May 2010 The US$10 billion STX housing deal gets its first hearing in Parliament just as the government prepares to borrow $1.5 bn. in future oil revenues The Ghanaian government is proposing to put up US$1.5 billion of its future oil revenues to finance the first phase of a controversial housing project with the South Korean construction...
Vol 3 (AAC) No 7 | CHINAAFRICA CIF, Beijing’s stalking horse 20th May 2010 Beijing’s relationship with the China International Fund is much clearer than it likes to admit. When the Hong Kong-registered CIF signed multibillion-dollar deals with pariah regimes in Guinea...
Vol 3 (AAC) No 7 | LIBERIASENEGALTAIWAN The long shadow of dollar diplomacy 20th May 2010 Five years after Senegal’s break in diplomatic relations with Taiwan, the island state which only has 23 diplomatic allies continues to haunt political life. At the heart of the affair...
Vol 3 (AAC) No 7 | ZAMBIACHINA Beijing digs deeper into Zambian mines 20th May 2010 Oppositionist Michael Sata’s rhetoric against China is not slowing down Chinese investment plans ahead of Zambia’s national elections, which are due in 2011. Chinese companies operating Zambian mines will now have...
Vol 3 (AAC) No 7 | SOUTH AFRICAJAPAN Slow to let go of Hitachi 20th May 2010 Faced with popular outcry about profiteering from electricity shortages and opaque ties between political parties and businesses, South Africa’s governing African National Congress is being forced to abandon its stake in...
Vol 3 (AAC) No 7 | VIETNAM Nguyen Minh Triet 20th May 2010 President of Vietnam On his April trip to North Africa, Vietnamese President Nguyen Minh Triet ramped up interest in the second Vietnam-Africa forum, set for August 2010. In Algeria and Tunisia,...