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Published 1st September 2011

Vol 4 (AAC) No 11


Ghana

The revolution will be financed

Image courtesy of Panos Pictures
Image courtesy of Panos Pictures

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President John Atta Mills plans to use Chinese credit lines to develop the country’s hydrocarbons infrastructure and build up an industrial base

Opposition New Patriotic Party (NPP) members of parliament were up in arms when the governing National Democratic Congress (NDC) used its slim parliamentary majority to push through approval of a US$3 billion credit line from the China Development Bank (CDB) on 27 August. The NPP’s abstention and the party’s subsequent criticism of the shape of the agreement was based on a perception that the Master Facility Agreement (MFA) had been laid before the House without details of the subsidiary projects to be funded.


Betting on Boffa

The government is negotiating the biggest-ever mining contract with a state-owned Chinese company, while another deal gets downsized

President Alpha Condé’s new government has been investigating the capacity of one of China’s large state-owned construction companies during the last few months. A June trip to Chi...


To Berbera and beyond

A Chinese company is backing infrastructure projects to develop secessionist Somaliland and give Ethiopia greater access to the sea

Port and energy deals signed between a private Chinese company and the breakaway government of Somaliland should provide the region with the most important boost it has ever receiv...


STX's house is falling down

The list of problems for the STX housing deal grows longer as plans to fly in thousands of Asian workers divide the project’s backers. STX Group of Korea declared its intention in ...


Harbour of resentment

A decision by the Namibian state-owned port operator to pre-award an estimated US$285 million contract for the Walvis Bay harbour expansion to the China Harbour Engineering Company...


Vanishing truckers

Key suspects in a fraud case linked to Grace Mugabe have disappeared, as have Buddhist monks behind a charity project on one of her properties

Four truck drivers charged as accomplices in a trucking fraud case failed to appear in court in Harare on 25 August and warrants for their arrest were issued. The principal accused...

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Fire sale

Ahead of national polls scheduled for 28 November, the Kinshasa government has decided to sell off state assets to a Hong Hong-based company for a fraction of their value.


Zisco deal still kicking

Just as NewZim Steel, formerly known as the Zimbabwe Iron and Steel Corporation (Zisco), is about to hold its first board meeting at the end of September, reports are emerging in t...


Timber company cuts corners

Smuggling is one of the biggest open secrets in Gabon’s forestry sector. Ever since the government began trying to mandate more local value-added processing of logs, the raw timber...



Pointers

Sai Ramakrishna Karuturi

Managing Director, Karuturi Global, India

As the head of an established floriculture business specialising in cut flowers, Sai Ramakrishna Karuturi first expanded his company’s African interests several years ago, opening ...


Patrice Motsepe

Chairman, ARMgold, South Africa

In September, South African mining entrepreneur Patrice Motsepe began talks with his co-chair on the South Africa-India Chief Executive Officers Forum, Ratan Naval Tata, the Chairm...


Lu Xingyu

Chairman, China-Africa Project Hope

Lu Xingyu, the 24-year-old daughter of a Chinese billionaire, is at the centre of a media row after newspapers and bloggers attacked the legitimacy of the China-Africa Project Hope...


Koichiro Gemba

Foreign Minister, Japan

The newly appointed foreign minister faces an uphill struggle in maintaining Japan’s image as a powerhouse of the global economy. The Democratic Party of Japan (DPJ) government mus...