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Now That Chinese-Owned OPay Has Become Africa’s Third Tech Unicorn, the Magnitude of What Happened Last Week is Starting to Settle In

When the Chinese-owned African mobile money app OPay wrapped up a massive $400 million investment round led by Japan's Softbank and a who's who of Chinese venture capital firms, the magnitude of what happened hadn't really registered. Those investors now value ...

Ambassador: More Chinese FDI Going to the DR Congo Than Anywhere Else in Africa

Chinese companies have invested $176 million dollars in the DR Congo during the first half of this year, more than any other country in Africa, according to Ambassador Zhu Jing. That's basically the only takeaway from Ambassador Zhu's ...

The U.S. Senate Wants to Know What Washington Needs to Do to Be Competitive in Africa

A United States Senate subcommittee convened a hearing last week to discuss what the U.S. needs to do to be more competitive in Africa in terms of both trade and investment. While the hearing was ostensibly not intended to focus on ...

New BRI Index Reveals China’s Contractors Are Bullish on Building New Infrastructure in ASEAN, Not So Much in Africa

The Chinese state-owned insurance giant Sinosure and the China International Contractors Association released their new BRI Infrastructure Development Index that indicates where they think conditions are best for infrastructure growth. There's a lot of interest in Southeast Asia, much less so in Africa. Respondents ...

What Advice is a Loan Official From China’s Largest Bank Giving to Companies Looking to Invest in Africa?

Now that China has all but stopped large-scale lending for major infrastructure projects in Africa, there's a lot of confusion over what happens next. After all, Chinese lending has been the cornerstone of Beijing's 15+ year engagement strategy on the continent. ...

Major U.S. Conference on Africa Went All Day Without a Single Mention of the Word “China”

The 13th U.S.-Africa Business Summit kicked off on Tuesday with a number of online forums on issues like infrastructure development, COVID-19, and strengthening US investment on the continent. Several senior White House officials, African heads of state, and corporate leaders from both sides are taking part. Remarkably, ...

Pro Tip: Pay Attention to How Hunan Province Is Positioning Itself as China’s African Business Hub

Most people outside of China have never heard of Hunan Province and if they have it's largely because their neighborhood Chinese take-out joint is called something like "Hunan Palace." But not in the China-Africa space. ...

New Guidelines Suggest Chinese Government Wants Companies to Be Greener When Investing Abroad

The Chinese government appears to be taking much more concrete steps in promoting more environmentally sustainable foreign direct investment. Two of the country's largest ministries, the Ministry of Commerce and the Ministry of Environment and Ecology, jointly published ...

Attracting Private Investment to Build Infrastructure in Africa May Sound Like a Great Idea, but It’s Really Difficult in Practice

With the launch of the G7's new "Build Back Better World" initiative (B3W) that aims to distinguish itself from China's Belt and Road Initiative (BRI) by channeling private sector capital to build infrastructure in developing countries, three senior leaders in the International Monetary Fund's ...

OPay Seeks to Raise $400 Million For Expansion Signaling Chinese VCs May Be Ready to Return to Africa

The Chinese-backed African fintech platform OPay is reportedly in talks with investors to raise as much as $400 million at a valuation of more than $1.5 billion, according to a report in The Information. That valuation, by the way, is three times higher than the ...
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