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Published 1st August 2012

Vol 5 (AAC) No 10


FOCAC V brings billions more

Image courtesy of Panos Pictures
Image courtesy of Panos Pictures

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Talk of a ‘new type of partnership’ was overblown, but Beijing pledged $20 bn. and took first steps toward improving corporate and environmental regulations

With a crucial leadership handover at the end of the year and growing domestic economic concerns, Beijing hosted the Fifth Forum on China-Africa Cooperation on 19-20 July with the usual dash of multibillion-dollar promises. Foreign and finance ministers from more than 50 African countries attended, but only a handful of heads of state and government were present, notably South Africa’s President Jacob Zuma, Côte d’Ivoire’s President Alassane Dramane Ouattara and Kenya’s Prime Minister Raila Odinga. However, FOCAC V won a different sort of feather in its cap in the presence of the United Nations Secretary General, Ban Ki-moon.


To save a treaty

Pressure mounts again on the treaty that allows funds to transit untaxed through Mauritius and into India’s markets

Mauritius and India are gearing up for another confrontation over the 1983 Double Taxation Avoidance Agreement. The DTAA allows Indian investors to avoid paying tax by funnelling t...


Condé’s great giveaway

A government partner is handing over major stakes in the Simandou contracts to Chinese state-owned firms

Despite support from groups like George Soros’s Open Society Institute, President Alpha Condé’s government persists in striking troublesome mining deals. The government and the Afr...


Diamonds give you wings

Anjin Investments is attracting even more attention from the authorities after a Global Witness report released in late June highlighted the company’s links to the security service...


Missing the sparklers

Disappearing diamond revenue is slowing economic growth and enriching illicit networks at the interstices of India-Zimbabwe trade

Disappointing diamond revenues and other factors forced Finance Minister Tendai Biti to slash predictions for Zimbabwe’s gross domestic product growth in 2012 from the expected 9.4...


Contracts and complaints

Amid unprecedented criticism from the European Union and strikes on several worksites, Chinese companies are having a rough time in Cameroon. With Hanlong Mining’s backing of the M...



Pointers

Alexander Chikwanda

Finance Minister, Zambia

In the 29 June listing of China Nonferrous Metal Mining Corporation (CNMC) on the Hong Kong Stock Exchange, Zambia’s Finance Minister Alexander Chikwanda saw ‘a legitimate cause fo...


Jean-Paul Adam

Minister of Foreign Affairs, Seychelles

Foreign Affairs Minister Jean-Paul Adam was in South Korea in early July. He attended his country’s national day at the Expo 2012 in Yeosu before meeting his counterpart, Kim Sung-...


Kim Hwang-sik

Prime Minister, South Korea

On a 8-13 July trip to East Africa, Prime Minister Kim Hwang-sik met Kenyan Premier Raila Odinga and President Mwai Kibaki. Kenya lobbied for South Korean participation in the Lamu...


Vikramjit Singh Sahney

President, Sun Group

After years spent cultivating India’s relations with Southern Africa, V.S. Sahney has turned his attention to the West. In July, Sahney led a Federation of Indian Chambers of C...