China’s track record on revamping African railways China has signed agreements worth $1.4bn (£892m) for two railway projects in Africa. A subsidiary of China Railway Construction Corp Ltd said that the projects are located in Nigeria and Djibouti. Rollo Dickson, the editor of the South Africa based Railways Africa magazine, explained to the BBC’s Focus […]
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CLIMATE BRIEF-G7, EU pledge $10 bln to aid Africa’s renewables plan Dec 7 The group of seven advanced economies (G7) and the 28-member European Union bloc on Monday pledged $10 billion in grants and loans to support a plan for dramatically increasing renewable power in Africa. African nations led by the continent’s development bank last
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Morocco to build world’s largest concentrated solar power plant It may be famous for its meandering medinas and the scenic Atlas Mountains, but Morocco might soon make its name as a solar superpower. The north-western African nation is building the world’s biggest concentrated solar power plant, which will supply electricity to 1.1 million Moroccans by
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Why U.S. retailers are missing out on billions from African consumers A section of Africa’s population has been steadily climbing the affluence stakes, with numbers of multimillionaires predicted to rise by 59% in the next 10 years. In spite of that, many U.S. retailers don’t ship their wares to the continent, fearing fraud or cumbersome
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Inside the world’s richest diamond mine Debswana’s Jwaneng mine is a giant cauldron of pale dust, 2 kilometers across at its widest point and patrolled by colossal 300-tonne trucks that labor up the terraced slopes. The operation, owned as a joint venture between De Beers and the government of Botswana, is the richest diamond mine
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The 10 best countries to start a business in Africa For all of the opportunities present in Africa’s huge and young population, growing economies and expanding trade links, the continent can be a daunting place to set up and run a company. Often, it is also expensive to start out. Bank loans come with double-digit
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China pledges $60 billion to African development China’s president pledged $60 billion to development in Africa on Friday, as part of what Chinese and African leaders have called “win-win cooperation.” President Xi Jinping made the announcement to rousing applause from an audience that included South Africa’s President Jacob Zuma, Nigerian President Muhammadu Buhari, Kenyan President
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Commerce ministry firming up Africa-focused export strategy The commerce department is firming up an export strategy focused on Africa, giving a new dimension to the government’s strategic push for ties with the continent that could offer a large market for Indian goods at a time of slowing global demand. While India has offered a $10
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China is spending billions in Africa China is still spending billions in Africa despite its economic slowdown, inking trade deals, investing in mining and infrastructure, and offering development aid. Just this week, during a visit to the continent, China’s President Xi Jinping agreed to invest $6.5 billion in South Africa. China’s rapid ascent to the
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Zambia expects $1 bln in deals with China at Africa summit Zambia expects to clinch $1 billion in Chinese investment and loans at this week’sChina-Africa summit in Johannesburg, a presidential spokesman said on Tuesday. Presidential spokesman Amos Chanda said Zambia was expected to conclude deals with China in infrastructure projects such as roads, railways, power
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