The China-Africa convergence: Can America catch up? Reply

More than a million Chinese have moved to Africa in the last decade, largely because they see the continent as an arena of almost limitless opportunity.

More than a million Chinese have moved to Africa in the last decade, largely because they see the continent as an arena of almost limitless opportunity.

Reposted from AllAfrica
By Howard W. French

For the last three years, I have traveled extensively in sub-Saharan Africa, after an unaccustomed absence. My recent experiences, which have ranged through every region of the subcontinent, tell me two essential things: Africa is caught up in intense and rapid change, and American policy toward the continent is not adjusting fast enough.

A trickle of articles in the American press has belatedly recognized Africa’s strong run of economic growth. Some of them have touted the expansion of a new African middle- or consumer-class, which by some measures is larger than that of India. Others have focused on the continent’s overall economic growth, drawing on data and forecasts from the International Monetary Fund and other sources. These suggest that over the next several years, Africa will grow faster than any other continent, including Asia. More…

Actis $1.5 billion Africa property plan to tap middle class Reply

Africa is home to the world’s youngest and fastest-growing population, McKinsey & Co. said in a 2010 report.

Africa is home to the world’s youngest and fastest-growing population, McKinsey & Co. said in a 2010 report.

Reposted from Bloomberg
By Kamlesh Bhuckory

Actis LLP, a private-equity company, will lead investment of as much as $1.5 billion in African commercial property to meet rising demand from international companies targeting a growing middle class.

“We are seeing a shift in interest from South African brands to European retailers” seeking opportunities in fast-growing economies such as Nigeria, Ghana and Kenya, Kevin Teeroovengadum, 39, director of Actis’ sub-Saharan Africa real estate unit, said in an interview in Johannesburg on June 11. “They want to tap into the emerging middle class.” More…

Two new funds to boost trade with Africa Reply

Chinese technicians and African workers at an expressway construction site in Nairobi, Kenya. China has established two funds to finance Chinese enterprises investing in Africa.

Chinese technicians and African workers at an expressway construction site in Nairobi, Kenya. China has established two funds to finance Chinese enterprises investing in Africa.

Reposted from People’s Daily Online

The China-Africa Business Council and the China-Africa Development Fund have decided to set up two new funds this year boost China’s investment in Africa. One fund is for commercial ventures, and the other, for mining activities.

Zheng Yuewen, chairman of CABC, which represents the interests of more than 550 Chinese companies in Africa, said each fund will raise $1 billion in its initial phase from member companies and the CADFund, China’s largest private equity fund focusing on African investments. More…

Laos, financial institutions working on hydro project development laws Reply

According to IFC, Laos is one of the poorest nations in southeast Asia, but is amongst the richest in terms of natural resources.

According to IFC, Laos is one of the poorest nations in southeast Asia, but is amongst the richest in terms of natural resources.

Reposted from PennEnergy

The International Finance Corporation (IFC) has announced its plan to work with the Laotian government in developing draft laws that would help govern hydroelectric power development.

According to IFC, Laos is one of the poorest nations in southeast Asia, but is amongst the richest in terms of natural resources.

Through the past decade, investments have led to the development of about 20 hydropower projects, with up to 50 expected to be operational by 2025. More…

ADB to fund NE-Myanmar linking highway project Reply

The Asian Development Bank (ADB) is ready to fund a highway project that will connect India’s North-East to Myanmar.

The Asian Development Bank (ADB) is ready to fund a highway project that will connect India’s North-East to Myanmar.

Reposted from The Wall Street Journal
By Yashodhara Dasgupta

The Asian Development Bank (ADB) is ready to fund a highway project that will connect India’s North-East to Myanmar. The proposed network that will link Agartala, Silchar, Imphal and Moreh with Myanmar, is in line with India’s Look-East policy and part of a strategic move to curtail China’s dominance over South-East Asian countries. More…

Pakistan’s new government must put development before debt repayment Reply

A family in Rawalpindi. Ending debt payments would give Pakistan time to develop new sources of revenue.

A family in Rawalpindi. Ending debt payments would give Pakistan time to develop new sources of revenue.

Reposted from The Guardian

by Nick Dearden

With an economy paralyzed by IMF interference, Pakistan could reassert its independence by halting debt repayments.

No matter which government Pakistan’s people had voted for last week, the debt payments the country is scheduled to make in the next two years will largely decide that government’s economic policy. That is, unless the government decides to put its people ahead of those repayments. Given the scale of problems Pakistan faces, is it possible that a sovereign economic agenda could find its way on to the table?
More…

Myanmar’s poor infrastructure holds it back but Hong Kong firms see opportunities Reply

Buildings go up in Yangon, where infrastructure is unable to keep up with breakneck development.

Buildings go up in Yangon, where infrastructure is unable to keep up with breakneck development.

Reposted from South China Morning Post
By Charlotte So

Deficiencies in infrastructure are holding back progress in realising the country’s huge potential, but they’re also golden opportunities

Myanmar’s backward infrastructure threatens to create a bottleneck, holding back the country’s rapid development. But for Hong Kong companies fresh from helping transform mainland China over the past 30 years, it adds up to opportunity.

The 320-kilometre bus ride from the commercial centre of Yangon to Naypyidaw, the new capital carved out of the jungle by the junta in the past decade, takes 6-1/2 hours. But traffic jams are not to blame for the slow pace. On the contrary, traffic is only seen occasionally on the main route between the old and new capitals. Rather, substandard construction techniques are to blame for the slow, sometimes bumpy ride. More…

Bangladesh up on human development scale Reply

UNDP-SonargaonReposted from bdnews24.com

The United Nations has listed Bangladesh as one of the 18 countries in the world that have made rapid progress in human development in the last three decades, though occupying a rather low position.

The United Nations Development Programme’s (UNDP) “2013 Human Development Report”, released on Friday in Dhaka as elsewhere in the world, measured national achievements in health, education and income to rank countries in the Human Development Index (HDI). More…

Bank of China funds new cement factory Reply

The new factory will occupy more than 40 hectares and will have the capacity to produce 3,200 tonnes per day

The new factory will occupy more than 40 hectares and will have the capacity to produce 3,200 tonnes per day

Reposted from The Phnom Penh Post
By Erika Mudie and Reuy Rann

A new cement factory is being built in Kampot which hopes to help meet domestic demand as the Kingdom’s construction industry grows. More…