Africa, China talk business
GOVERNMENT| July 19, 2012, 10:07 a.m.
Government Ministers from 50 African countries have gathered in China for high-level talks on cooperation between China and Africa.
The 5th Ministerial Forum on China-Africa Cooperation (FOCAC) conference is now underway in Beijing, where trade, investment and strategic partnerships are in the spotlight.
FOCAC is described as “a platform for collective dialogue and an effective mechanism for practical cooperation between China and African countries.” This year’s event is expected to to chart the course for China-Africa cooperation in various fields in the three years from 2013-2015.
Tanzanian Foreign Minister Bernard Membe, in Beijing for the forum, noted that most African countries depend greatly on Chinese loans and grants for their development, while Rwandan Foreign Minister Louise Mushikiwabo said Africa intends to take advantage of China's support.
According to Chen Deming, China's Commerce Minister, China-Africa trade hit a record high of USD166.3 billion in 2011. He stated that China's investment in Africa reached USD14.7 billion by the end of 2011, with over 2,000 Chinese businesses located in the region.
In the lead-up to the forum, which opened today, China’s Vice Foreign Minister Zhai Jun said at the Forum on China-Africa Financial Cooperation hosted by the Export-Import Bank of China last week that the Ministerial Conference is of great significance for the continuation and further development of China-Africa relations, and has received high attention from both sides.
He noted that past few years had been the most robust period for China-Africa high-level exchanges.
“The development of China-Africa relations in recent years is not the development of relations with just one, two or a few African countries. Rather, it has been the comprehensive development of our relations with all friendly African countries.”
He noted that since 2006, China's grant assistance, interest-free loans and preferential loans to Africa have increased steadily. It has trained more than 30,000 professionals in various sectors for Africa and offers 5,000-plus government scholarships annually. For three consecutive years since 2009, China has remained Africa's largest trading partner.
MORE GOVERNMENT NEWS
Lawmakers urge review of CBN’s cashless policyNigerian lawmakers are rooting for the review of the cashless policy of the Central Bank of Nigeria (CBN) which they described as constraining Nigerian’s ability to spend money for businesses and personal transactions. Read More
Guinea turns to Gemalto to modernise its national voter registerGemalto has managed a comprehensive modernisation of Guinea’s voter register on behalf of CENI, the National Independent Electoral Commission. Read More
NIMC apologises for service disruptions at enrolment centresThe management of the National Identity Management Commission (NIMC) has apologisd to Nigerians who are currently facing challenges enrolling on its platform. Read More
ComTech minister: Buhari will decide on MTN fineNigeria’s new Minister of Communications Technology, Barr Adebayo Shittu, has said President Muhammadu Buhari will soon take a decision on the payment of the N1.4trillion ($5.2billion) fine imposed on MTN by the NCC. Read More
New NIMC CEO namedNigerian President Muhammadu Buhari has approved the appointment of Engr. Aliyu Aziz Abubakar, as the new Director General and Chief Executive Officer of Nigeria’s National Identity Management Commission (NIMC). Read More
GSM service providers risk fresh regulatory sanctionsThe NCC is set to sanction the three of the four GSM service providers for failing to comply with its directive on auto-renewal of subscribers’ data bundles. Read More
Mobile Compact Lab presented to BotswanaThe Global Pharma Health Fund, a charitable initiative funded by Merck, a leading science and technology company, has donated a mobile compact laboratory to the Health Ministry in the capital city of Gaborone to help detect counterfeit medicines. Read More
KRA sweeps marketing excellence awards for the authority’s iTax solutionThe Kenya Revenue Authority (KRA) has added yet another feather on its cap, after winning a Marketing Society of Kenya (MSK) award. Read More
NCA sets new timetable for digital dividend auctionGhana’s telecoms regulator has revised its time table for the sale of LTE spectrum in the 800 MHz Band. Read More
Botswana first to implement IMF enhanced General Data Dissemination systemAt the request of the Botswana, authorities a mission from the IMF’s Statistics Department visited Gaborone this month, to assist with the implementation of the Enhanced General Data Dissemination System (e-GDDS). Read More
FEATURED STORYeCommerce in Africa urged to take advantage of mobile
The Executive Chairman of Alltel has urged operators of eCommerce in Ghana and Africa as a whole to take advantage of the current trend for Africans to trade online via their mobile handsets.
BEST READ NEWS
IN DEPTHNigeria needs $25b investment in broadband, says Wood
Telecoms executive Adrian Wood speaks to Kokumo Goodie about investment potential in Nigeria.