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China – Africa Investment and Cooperation Activity Map for November 2018
Thursday, 03 January 2019 01:23

1. Egypt – October: Chinese Vice-President Wang Qishan visited Egypt and was received by Egyptian Prime Minister Mostafa Madbouly. An agreement was signed for the education sector for a USD 11.5 bn grant to fund a distance learning project over three phases.

2. Egypt – October: Egypt is to sign a USD 1.2 bn loan agreement for the Ramadam-Salam rail within the next month. The Export-Import Bank of China is to build the electrical rail linking Salam City with Tenth of Ramadan City and the new administrative capital. Work on this project is expected to begin in early 2019.

3. Nigeria – October: Chinese green industry enterprise Elion Resources Group signed a Memorandum of Understanding with Nigeria as part of their exploration for investment opportunities within the country. Wang Wenbiao, president of the group, met with government officials from Imo state in Nigeria’ southern region to look at increasing the potential of natural gas resources for domestic as well as industrial power supply.

4. Uganda – October: Uganda’s finance minister, Matia Kasaija, signed an agreement with Chinese Ambassador to Uganda, Zheng Zhuqiang, for a USD 212.7 mn loan. The funds shall be used to boost rural electrification. Kasaija stated that Uganda currently produces excess electricity, and the loan is essential in extending this supply to the rural parts of the country.

5. DRC – October: A deal was signed between a Chinese consortium, led by China Three Gorges, and a European consortium, led by Actividades de Construcción y Servicios of Spain, to build the USD 13.9 bn Inga 3 hydropower plant. The plant is set to generate 5GW in installed capacity, tripling the current DRC capacity. The increased capacity will be used to power the DRC mining industry and also supply energy to South Africa.

6. Zimbabwe – October: Sunny Yi Feng Tiles, a ceramic tile and porcelain manufacturing company funded by Chinese investors, held its ground breaking ceremony for the USD 120 mn facility 40km south of the capital city Harare in October. The investment aims to see several factories established and employ up to 1,700 workers. Company president, Tang Yi, says that 30% of the products shall be sold locally, with the rest being sold to neighboring nations.

This article is produced by The Beijing Axis and is published in The Econometer section of ChinAfrica magazine (December 2018), an English and French language monthly publication that provides news, views and analysis on all things China, Africa and China-Africa relations.