HOW CHINA EXPENSIVE BET ON AFRICA HAS FAILED

HOW CHINA EXPENSIVE BET ON AFRICA HAS FAILED

As the novel pandemic keeps spreading, China’s commercial activities in Africa has seriously been affected. The prospects for China-funded projects look bleak as the prices of oil, copper and minerals found in Africa have plunged in the global economic meltdown. China is now facing growing pressure to forgive the tens of billions of dollars of loans it has made to African countries since the early 2000s. The plan to lure African nation into a so-called…

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KENYA SEEKS ANOTHER LOAN FROM CHINA FOR RAILWAY PROJECT

KENYA SEEKS ANOTHER LOAN FROM CHINA FOR RAILWAY PROJECT

Kenya seeks for another funds to complete stage three of the standard gauge railway. Kenya is seeking for fund from China to complete the third phase of the standard gauge railway. The negotiating is a loan worth Sh 370 billion that will ensure passengers, goods and equipment are secure during their journey from Mombasa to Malaba in Busia County. Kenya Railways Acting Director Philip Mahinga said “We all know that the first phase of SGR from Mombasa to Nairobi cost Sh…

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ADFD APPROVES FUNDS FOR SOLAR PVC PROJECTS IN RWANDA AND MAURITIUS

ADFD APPROVES FUNDS FOR SOLAR PVC PROJECTS IN RWANDA AND MAURITIUS

ADFD approve US $25m to both Africa nations for solar pvc project that will improve their energy system. Abu Dhabi fund for development (ADFD) has approve loans of  US $10m to Mauritius and US $15m to Rwanda for the construction of a solar project in both nation. The both project is expected to improve the nations energy system. The project in Mauritius will help the Central Electricity Board install solar PV systems on rooftops of 10,000 households which is part of the government’s…

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