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Published 1st September 2013

Vol 6 (AAC) No 11


The financial ties that bind

Image courtesy of Panos Pictures
Image courtesy of Panos Pictures

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While China’s policy banks are lending to governments, India’s commercial banks are on the ground working with businesses and consumers

Chinese state-run policy banks may be leading the way in providing state-to-state finance, but commercial banks from India are capitalising on their historical ties with East Africa to grab a spot in the African banking market. The Chinese banking sector remains heavily regulated and Chinese commercial banks, other than the Industrial and Commercial Bank of China, have set up only small representative offices in Africa. Banks in both Asia and Africa have been quick to sign cooperation agreements, but most provide few details about the impact these partnerships make on profits. While trade levels between Africa and Asia continue to rise, the financial ties between the regions are set to grow with them.

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Bonding over bourses

Stock exchanges in Shanghai and Johannesburg embarked on a new cooperative project in August that will encourage more equity investments

Following the Johannesburg Stock Exchange-Shanghai Stock Exchange memorandum of understanding in September 2012, the inaugural South Africa-China Capital Market Forum was held at t...


Beijing will connect your call

The government does not want to liberalise the telecommunications sector and has hired Chinese contractors to carry out much-needed improvements

On 18 August, the acting Chief Executive Officer of state-owned telecoms operator Ethio Telecom, Andualem Admassie, signed the second of two US$800 million deals that will drastica...


The numbers game

The government's White Paper on Africa reported that trade rose to a new record of US$198.5 bn. in 2012, but the report lacks the detail other governments provide

China’s trade and investment in Africa continues to rise rapidly since it became the continent’s largest trading partner in 2009, new Chinese government statistics show...


CNPC suspended

Caught by a surprise inspection, the Chinese company that has worked in the Bongor Basin since 2007 faces huge financial and reputational losses

Chad has frozen the activities of China National Petroleum Corporation after inspectors found the company was dumping waste oil in holes dug in the ground in the Bongor Basin. If t...


Security climbs the agenda

Tokyo plans to increase its security presence in Africa next year and Prime Minister Abe discussed piracy and terrorism when in Djibouti in August

In response to the January 2013 attack on the In Amenas gas plant in Algeria, Prime Minister Shinzo Abe plans to spend a chunk of Tokyo’s 2014 defence budget on launching a m...


Vicente and China Sonangol

A case brought against Vice-President Manuel Vicente accuses him of breaking the law through his continuing directorship at China Sonangol

Angola's Vice-President Manuel Domingos Vicente is facing demands for his impeachment, following revelations that he secretly renewed his official position on the board of China So...


Grab first, drop later

Addis Ababa reconsiders policies after India-backed agribusiness projects fail to deliver

Ethiopia is rethinking its land policies after the failure by India’s large agribusiness ventures, which have also drawn much criticism from non-governmental organisations, t...



Pointers

Pham Binh Minh

Foreign Minister, Vietnam

Foreign Minister Pham Binh Minh was busy in southern Africa during August, following up on his government’s initiatives to increase trade levels and win business deals for st...


Rahul Dhir

CEO, Delonex Energy, Britain

Delonex Energy was launched by Rahul Dhir in 2012. The former boss of oil company Cairn India is now working with Warburg Pincus, a large United States-based private equity firm, t...


Iqbal Survé

Chairman, Sekunjalo Group

Iqbal Survé has gone into business with state-owned Chinese and South African companies. Survé’s Sekunjalo Group bought a stake in South Africa’s Independ...


Mohd Emir Mavani Abdullah

President, Felda Global Ventures, Malaysia

Mohd Emir Mavani Abdullah became the new President of Malaysian palm oil producer Felda Global Ventures on 17 July. As new regulations and a shrinking supply of land push agribusin...