Ramaphosa: China is not trying to re-colonise Africa

Uhuru in China for trade talks days after hosting UK PM Theresa May

NAIJ.com earlier reported that President Muhammadu Buhari on Friday, August 31, departed Abuja for Beijing, China to attend the Forum on China-Africa Corporation (FOCAC) Summit. The initiative involves hundreds of projects, majority built by Chinese contractors and financed by loans from Chinese state-owned banks, across an arc of 65 countries from the South Pacific through Asia to Africa and the Middle East.

Sun Baohong, Chinese ambassador to Kenya, said late August that China has become one of the most favorable destinations for Kenyan students.

China loaned around $125 billion to the continent from 2000 to 2016, data from the China-Africa Research Initiative at Washington's Johns Hopkins University School of Advanced International Studies shows.

Xi's announcement followed China's decision to contribute $60 billion in investments three years ago, the news agency reported.

The two-day summit, that has attracted dozens of African heads of State and government, is to discuss strategic partnership cooperation with China in areas of trade, infrastructure, economic development and energy.

McCain motorcade departs U.S. Capitol en route to cathedral
President Trump issued a four-word reply Saturday after several speakers at weekend funerals for singer Aretha Franklin and U.S. But they spoke of reconciling with him during personal moments afterward, and, as Bush said , "the rivalry melted away".

African leaders in attendance include South Africa's Cyril Ramaphosa, Egypt's Abdel Fattah el-Sisi, Zambia's Edgar Lungu and Gabon's Ali Bongo.

Nations across Africa are hoping that China's enthusiasm for infrastructure investment will help promote industrialization on the continent.

In May, African central banks, under the Macroeconomic and Financial Management Institute of Eastern and Southern Africa, (MEFMI) a regional establishment with members including EAC countries supported the introduction of the yuan as a reserve currency.

The number of Chinese tourists to Africa is rapidly growing as African countries are trying to attract more visitors from China.

One of the biggest contentious issues between African countries and China has been on trade and in the three-year plan, Beijing had promised under the China-Africa Trade and Investment Facilitation Plan to carry out 50 trade programmes to improve Africa's capacity for internal and external trade and investment.

Coca-Cola buys United Kingdom coffee company Costa for US$5.1bn | Leadership
Coca-Cola does already have over 500 brands in its stable including Fanta, innocent smoothies and Powerade sports drinks. Doing so, Whitbread said, would "provide headroom" to expand Premier Inn in Britain and Germany.

Xi announced that Africa's poorest nations would be given interest-free loans from China so that they incur less sovereign debt.

Breaking down the $60 billion China pledged to extend, Xi said $15 billion of those funds would be for aid, interest free and concessional loans, $20 billion would be set aside for as a new credit line, $10 billion for China-Africa development and five billion for imports.

Ramaphosa said the Sino-African relationship was "premised on the right of African people to determine their own future [towards] an Africa we want, where the guns would have been silenced and all its people live in peace and security".

China has provided aid to Africa since the Cold War, but Beijing's presence in the region has grown exponentially with its emergence as a global trading power.

The country meant to bring 200 young Africans to China for a skills exchange programme.

Pedro, Eden Hazard net as Chelsea defeat Bournemouth
They need to find themselves in new situations and the people around them are looking for those opportunities. Speaking to the BBC after the game, Maurizio Sarri reflected: " I'm really very happy with my players ".

The commencement of mining, he said, was significant to the people in the town as the new project implies more business opportunities for residents.

Related news:

Hot News

isis-killer-beheading-video-story-top Huawei Mate 20 Pro: mark your calendars!
Sep 02, 2018 - 16:34
The Mali-G76 utilises AI to intelligently identify gaming workloads and adjust resource allocation for optimal gaming performance. Not only was the Kirin 980 made using TMSC's N7 node, it is also the first to feature the new Cortex A76s as 4 of its 8 cores.

isis-killer-beheading-video-story-top Manchester United In Contract Talks With Anthony Martial
Sep 02, 2018 - 12:36
On Friday, Mourinho defended his "great success" at United and Guardiola says only the players know who the manager truly is. One of the secrets of last season was when we didn't get three points, we won the next game.

isis-killer-beheading-video-story-top Phil Neville praise for 'courageous' Man Utd boss Jose Mourinho
Sep 02, 2018 - 11:11
Speaking in the build up to Manchester United's clash with Burnley, Mourinho was in a prickly mood from the outset. He also said second place last season was "one of his greatest achievements".

isis-killer-beheading-video-story-top John McCain Memorialized As Hero, Fighter, Imperfect Friend
Sep 02, 2018 - 10:54
Along with invited family and friends, around 1,000 seats were being made available to members of the public who signed up. He said McCain "love basic values - fairness, honesty, dignity, respect". "I was just another player", Fitzgerald said.

isis-killer-beheading-video-story-top Celebrity Big Brother: actor leaves house after claiming punch by Ryan Thomas
Sep 01, 2018 - 20:58
On Saturday morning, the CBB Twitter account announced that Pallett had chose to leave the Big Brother house. He later spoke to Roxanne and the pair shook hands, apparently drawing a line under the controversy.

isis-killer-beheading-video-story-top Stunned Raiders players take to Twitter after Khalil Mack traded to Bears
Sep 01, 2018 - 19:23
This offseason, Oakland exercised their right to pick up Mack's fifth year option at an annual salary of $13.846 million. Not only is Mack only 27-years old, but he is under contract for this season, and can be franchised for the next two.

isis-killer-beheading-video-story-top Nearly 3000 deaths in Puerto Rico linked to Maria, say university researchers
Aug 31, 2018 - 23:31
He said financial instability and a fragile infrastructure made Puerto Rico especially vulnerable to such calamities. She also says the federal government "will continue to be supportive" of Gov.

isis-killer-beheading-video-story-top At least 100 pink Cadillacs showed up for Aretha Franklin's funeral
Aug 31, 2018 - 22:55
And then there was Davidson arriving hand-in-hand with Grande, who wore a little black dress for the occasion. He said they 'talked all the time, ' the last just a couple weeks before she became too ill to speak.

isis-killer-beheading-video-story-top Detroit hosts star-studded funeral for Aretha Franklin
Aug 31, 2018 - 17:43
The high-profile status of Aretha Franklin's funeral has been circling the press cycle since news first broke of her death. Her funeral will be held at Greater Grace Temple, with Stevie Wonder and Ariana Grande said to be performing.

isis-killer-beheading-video-story-top England reveal the playing XI for the 4th Test
Aug 30, 2018 - 21:57
It's all very well mugging India at Lord's when it's damp and dark, but putting them in at Trent Bridge was a daft mistake. Captain Kohli continued his blistering run in the ongoing series by scoring a second-innings ton.

isis-killer-beheading-video-story-top Serena, Venus to meet for 30th time at US Open
Aug 30, 2018 - 21:37
The reason this match comes so early is that their rankings are not what they've been in the past. Two-time champion Venus beat Italy's Camila Giorgi 6-4 7-5.

isis-killer-beheading-video-story-top Mourners gather for Arizona church service for McCain
Aug 30, 2018 - 21:16
In recent times, he became a key critic of Donald Trump, who has been asked by Mr McCain's family not to attend his funeral. The final words of the ceremony were read by Father Reese. "We owe it to his memory to be more like him", Flake said.

isis-killer-beheading-video-story-top Champions League group stage draw
Aug 30, 2018 - 15:39
Pot 1 contains the current champions from Europe's biggest domestic leagues and the two sides with the highest UEFA coefficient. United's place in pot two does leave Jose Mourinho's men likely to face one of the elite clubs in the group stage, though.

Google Go search app receives AI-powered feature for reading out websites
Aug 29, 2018 - 07:38
Earlier today, Google announced the rebranding of Google Tez to Google Pay , during the company's " Google for India " event. Sengupta said the company is also adding more merchants - online and offline - onto its platform.

isis-killer-beheading-video-story-top Iran, Syria Sign Military Cooperation Deal
Aug 29, 2018 - 06:24
So instead of an epic naval and aerial clash, expect Russian Federation to stick to its real weapon for modern war: propaganda. According to him, Damascus condemned the use of chemical weapons no matter the circumstances and considered it to be immoral.