Chinese ride-hailing giant Didi Chixung ends its operation in South Africa

SOUTH AFRICA – Chinese ride-hailing giant, Didi Chixung, has announced that it would be ending its operations in South Africa. This is coming only a year after it launched in the country, marking its entry into the continent. The ride-hailing company, which claims to have over 500 million customers, has operations in 16 countries, including Russia and Australia. “We have…

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Bank of Africa (BOA) partners with AMDIE to Boost Chinese Investment in Morocco

MOROCCO – Morocco’s third-largest banking group (BMCE) signed a partnership agreement with Morocco’s development and investment agency to support Chinese investments in Morocco. The agreement was signed by BOA’s Executive General Director, Kalid Nasr, and AMDIE’s General Director, Youssef El Bari. The AMDIE-BOA cooperation agreement aims to support Chinese investments in accessing the Moroccan market as well as other African…

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Chinese ride hailing startup DiDi launches in Egypt, a month after South Africa

EGYPT – DiDi, a Chinese transportation technology platform, has officially launched its services in Middle East and will begin providing Waslny, Waslny Plus and Didi Express services in Egypt. The entry of the Chinese intelligent transport giant should increase competition in the Egyptian market, especially after the recent entry of the Russian application, InDriver, which limits control of Uber after…

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China to provide US$130m to Ghana for development of Technical universities and institutions

GHANA – The government of Ghana has secured US$130 million facility from China to upgrade five technical universities and 10 technical institutions in the country. The facility, under the Ghana-China project, a joint initiative, between the government and China aimed at enhancing vocational training by growing talent for industries through the establishment of advanced training. Under the project, the beneficiary…

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Nasr Automotive partners China’s Dongfeng for reconstruction of its factory to produce electric cars

EGYPT – Nasr Automotive Manufacturing Company, of the Ministry of Public Enterprise, has signed two agreements with China’s Dongfeng Motor Corporation to reconstruct its factory to produce the first electric car in Egypt. In a press conference, El Nasr Automotive CEO and Managing Director Hany El Kholy said that the first electric vehicle will be produced in Egypt at the…

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China’s LONGi solar appoints Maryzad to be distributor and partner in Africa

EGYPT – LONGi, a Chinese manufacturer of photovoltaics and a developer of solar projects, has announced the appointment of Maryzad, a Saudi-Egyptian company founded in 2012, as a new major distributor and partner, leveraging its strengths in the field of solar, alternative and renewable energy as it expands its presence in Africa. Water requirements in Egypt have grown over recent…

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China extends ban on Ethiopian Airlines flights till end of the year

ETHIOPIA – China has extended the ban on Ethiopian Airlines flight from Addis Ababa to Shanghai Pudong until the end of 2020, citing the increased number of passengers on the flights who have tested positive for COVID-19. In August this year, Ethiopian Airlines received its first temporary suspension after six people tested positive for the virus. However, the ban lasted…

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IMF to give Angola $6.2 billion 3-year debt relief.

ANGOLA – The International Monetary Fund (IMF) has revealed that Angola will receive $6.2 billion in debt relief over the next three years following agreements lined up with three of its major creditors. According to a report, the IMF mentioned that although Angola’s debt is sustainable, significant vulnerabilities remain while “debt dynamics are highly sensitive to further oil-price volatility.” The government,…

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AFD and TDB partners to open US$150m line credit to finance infrastructure in East Africa

AFRICA – The French Development Agency (AFD), a public financial institution, has recently signed a partnership with the Trade and Development Bank (TDB) of Eastern and Southern Africa, a commercial bank owned by the member states of the Common Market for Eastern and Southern Africa (COMESA), the World Bank and China. The two development banks have just signed an agreement…

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China opens first African cocoa trading center to meet rising demand

GHANA – An African cocoa trading center has been opened in Hunan Province, Central China to connect the world’s leading cocoa producing region to China’s fast-growing appetite for chocolate. The marketing center, according to CGTN Africa, will start by selling cocoa mainly from Ghana before bringing in products from more African countries. “I am confident that every tasty chocolate enjoyed in China…

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