Officials say most member states in the Central African Economic and Monetary Community, CEMAC, have failed to honor a ban on raw timber exports that was enacted last year to conserve forests and create jobs by locally processing wood. The six member countries of the Central African bloc agreed to ban raw timber exports starting […]
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Chinese Lending at 13-Year Low; US Pledges Africa Investment
Recent visits to Africa by U.S. Ambassador to the U.N. Linda Thomas-Greenfield and U.S. Treasury Secretary Janet Yellen came as a new study found China’s overseas investments in the COVID-19 era are at a 13-year low. China has invested heavily in Africa through its Belt and Road Initiative and the U.S. has also recently pledged […]
AfDB and partners mobilise $30 billion for African farmers
DAKAR— The Dakar 2 Feed Africa Summit ended with a $30 billion pledge by the African Development Bank (AfDB) and development partners to finance food and agribusiness on the continent in the next five years. Of the amount announced at the summit held in the Senegalese capital, the AfDB pledged to mobilize $10 billion. Leaders […]
Author: Negative View of China Increases as Beijing’s Media Try to Boost Image Overseas
Over the past decade, China has invested billions of dollars in state media, hiring foreign journalists and partnering with local newsrooms to try to boost its image overseas. That investment has yielded some success, but global views of China have become increasingly negative over the past five years. In 2022, according to the Pew Research […]
US Pledging Tens of Billions of Dollars for Africa
The United States plans to commit $55 billion to Africa over the next three years, according to White House officials. The announcement comes as the administration of President Joe Biden hosts a two-day meeting with African leaders. The U.S. three-year funding pledge contains $20 billion for health programs in Africa. Speaking to African leaders Wednesday […]
Will African Nations Get Debt Help from IMF and China?
Long-running tensions between the major international lenders and China were aired at a meeting in China’s Anhui province, where participants sought agreement on a way forward for some of the world’s most indebted countries, many of them in Africa. Representatives of the International Monetary Fund, World Bank, and Beijing’s finance ministry participated in the meeting […]