China's USD20bn for Africa
GOVERNMENTBy BiztechAfrica - July 20, 2012, 5:29 p.m.
China says it will provide a USD20 billion line of credit for infrastructure development in Africa.
Chinese President Hu Jintao told Government Ministers from 50 African countries at the 5th Ministerial Forum on China-Africa Cooperation (FOCAC) conference in Beijing that China would to assist them in developing infrastructure, agriculture, manufacturing and small and medium-sized enterprises.
Among his pledges, the President saidChina would build more agricultural technology demonstration centers as necessary to help African countries increase production capacity. China will also implement the "African Talents Program" to train 30,000 personnel in various sectors for Africa, offer 18,000 government scholarships, and build cultural and vocational skills training facilities in African countries.
The country also plans to will deepen medical and health cooperation with Africa, help African countries enhance capacity building in meteorological infrastructure and forest protection and management, and assist with projects to supply safe drinking water.
China's trade with and investment in Africa have been expanding, he noted, saying in 2011, our two-way trade reached 166.3 billion U.S. dollars, three times the figure in 2006. Cumulative Chinese direct investment in Africa has exceeded 15 billion U.S. dollars, with investment projects covering 50 countries.
MORE GOVERNMENT NEWS
Airtel Malawi licence renewedMacra has approved Airtel Malawi’s application to renew its operating licence. Read More
WAAPP embraces tech for agricultureThe West Africa Agricultural Productivity Programme (WAAPP) in Nigeria has embraced the Electronic Technology Transfer (ETT) for agriculture. Read More
ITU: deep sense of loss over Nelson MandelaNelson Mandela, champion of downtrodden, wished to bridge digital divide, says the ITU in its tribute to the late statesman. Read More
BIH sets up clean tech centre of excellenceThe Botswana Innovation Hub has opened a Clean Tech Centre of Excellence to innovate in sustainable and environmentally sound solutions. Read More
Tributes stream in for Nelson MandelaFormer South African statesman and ‘father of the nation’ Nelson Rolihlahla Mandela has died at the age of 95. Read More
Govt, Lagos, telcos strike dealThe Federal Ministry of Communications Technology has ended the stand-off between the Lagos State government and the telcos, acting under the aegis of ALTON. Read More
Nigeria launches local content guidelinesNigeria’s Minister of Communication Technology has unveiled new local content guidelines for the Nigerian ICT sector. Read More
East Africa moves towards single currencyLeaders meeting at the 15th Ordinary Summit of the East African Community Heads of State in Kampala, Uganda, have moved a step closer to a single currency for the EAC. Read More
Malawi govt wary of digital migration deadlineThe Government of Malawi has said it is wary of fulfilling its plans to migrate to digital by December 31. Read More
FEATURED STORYGaming app introduces investors to trading
A new virtual stock market app is equipping would-be investors with the skills they need to trade.
BEST READ NEWS
IN DEPTHCorporate cyber security threats of the year
91% of organisations polled suffered a cyber-attack at least once in the past year, says Kaspersky Lab in its security review of 2013.
COMPANY NEWSSamsung, 49M embark on consumer educational drive
Samsung Electronics South Africa has announced a national consumer education campaign in support of the 49M initiative, offering practical actions to save energy in daily life.MTN launches new positioning campaign for enterprise market
MTN Group today unveiled a new Pan-African brand positioning media campaign for MTN Business, its enterprise business unit.