China's USD20bn for Africa

BUSINESS

|
Image: President Hu Jintao . By BiztechAfrica
President Hu Jintao

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. 



Share the News

Get Daily Newsletter

Search News

comments powered by Disqus

MORE BUSINESS NEWS

Lack of technology bane of Nigeria’s SMEs, says Matt O’Bell chief

Bola Olayinka, Ademide Malumi and Dare Ojo-Bello Aside financial constraints, the non-application of technology has been identified as one of the constraints of small and medium enterprises (SMEs) in Nigeria. Read More

Telecom M&A and digital convergence to lead deal activity in Africa

TMT Finance is teaming up with IHS Towers, the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, to bring an international audience to Africa’s technology hub, Lagos, for the first event of its kind in Nigeria. Read More

Reach for Change Africa calls for strengthened social entrepreneurship

Reach for Change Africa is calling on social entrepreneurs, NGOs and government to play their role in strengthening the social entrepreneurship sector in Africa on International Day of Youth 2016. Read More

Stanford Seed Entrepreneurs join top Silicon Valley business leaders at Global Summit

Afolabi Abiodun, CEO of Nigeria-based telecommunications company SB Telecoms, couldn’t quite believe his eyes as he stood on Stanford University’s bustling Silicon Valley campus recently.  Read More

Etisalat, YuuZoo launch e-commerce portal for SMEs

Nigeria’s most SME-friendly telecommunications operator, Etisalat, in partnership with Singapore’s YuuZoo Corp, has unveiled a bespoke e-commerce platform, SME Arena, to facilitate the growth of Small and Medium Enterprises (SMEs) in Nigeria. Read More

Mstore plans $50m African expansion

Midcom Group has announced expansion plans aimed at making its Mstore the largest mobile and electronics retailer in Africa. Read More

*astTECS Expands Operations in Africa

*astTECS, a leading provider of Enterprise Telecom Technology Products and Asterisk based Open Source Communication Solution, is expanding its Africa footprint with a presence in Ghana and Botswana. Read More

The Tech Revolution: Sage Sets out the Vision for African Businesses

Sage, a market leader in cloud accounting software used its global Sage Summit 2016, held this week in Chicago, to outline its strong commitment to future technologies, with a focus on new and existing initiatives that power business growth.   Read More

Francistown Barclays gets cardless

Cardless cash deposits have been launched in Francistown. Read More

Business incubator to boost 200 Zimbabwean entrepreneurs

Agnes Chikukwa-Hove, CEO of KBA Africa 200 would-be Zimbabwean entrepreneurs are set to benefit from business training and support, thanks to a business development programme to be launched by business incubation specialist KBA Africa.   Read More

PRESS OFFICES

Sage EnterpriseSAP AfricaTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4AfrikaNetworks UnlimitedArbor NetworksEricssonTigo Ghana

FEATURED STORY

Financial services sees AI as both opportunity and threatFinancial services sees AI as both opportunity and threat

Banking is already a key area where technology is having an impact throughout Africa, and a new survey assesses the impact artificial intelligence will have on this sector.

Advertisement

IN DEPTH

Access and Use of ICT stats releasedAccess and Use of ICT stats released

Statistics Botswana has released the first results of the 2014 Information and Communication Technology Household Survey.