Declaring it “the most substantive project the AU has ever signed with a partner,” Nkosazana Dlamini-Zuma, chairperson of the African Union Commission, praised China late last month for agreeing to help the African continent knit its disparate infrastructure together. A memorandum of understanding signed by Zuma and China’s Vice Foreign Minister Zhang Ming in Addis […]
Key Facts
Japan rivals China in East Africa investment
Japan has upped the competition with China in aiding East Africa’s development after signing a US$275 million loan to fund Kenya’s second phase of the Mombasa port expansion, reports our Chinese-language sister paper Want Daily. The US$275 million loan is part of a US$546 million contract aiming to move along the 2020 projected completion date […]
African Officials Vow to Enhance Cooperation With China
African leaders attending the 24th African Union (AU) summit in Addis Ababa vowed to strengthen cooperation with China to develop infrastructure and embolden the war against terrorism and infectious diseases. The 2015 African Union Heads of State and government summit ended on Saturday amid calls for concerted efforts to promote security and development on the […]
IMF’s Lagarde Warns African Economies of Headwinds from China, U.S
International Monetary Fund head Christine Lagarde has warned that African economies could be hurt by a slowdown in China’s economy and an imminent hike in United States interest rates. Lagarde, speaking on Tuesday on a visit to Rwanda, said IMF’s global economic forecasts have been revised down over the past few months despite a huge […]
Why the U.S. Should Aim for Bigger Economic Plans with India
Over the weekend, President Barack Obama and Indian Prime Minister Narendra Modi turned a corner for the United States and India. The two leaders resolved issues in a long-stalled nuclear deal that for years kept U.S. nuclear power companies from doing business in India. Modi also hailed economics as “vital for the success of our […]
U.S. Efforts to Power Africa
While on his Africa tour in June 2013, President Obama announced a new U.S. effort to expand energy access in Sub-Saharan Africa, where two thirds of the population are without electricity. The Power Africa initiative identifies and facilitates energy transactions between private enterprises and governments in African countries to generate 30,000 megawatts of new energy […]
India to Overtake China as World’s Fastest Growing Large Economy
Sorry China, but it’s time to step aside. By next year, India could be the world’s fastest-growing large economy. That’s the view of a growing number of economists, many of whom think China’s economy will continue to slow this year and next, while India reaps the benefits of lower oil prices and policy reforms. The […]