By Wendell Roelf

CAPE TOWN (Reuters) – Chinese Vice President Xi Jinping signed an energy deal with resource-rich South Africa on Wednesday in a visit aimed at obtaining minerals the Asian giant needs to fuel its blistering growth.

signing energy dealChina is South Africa’s biggest bilateral trading partner and the focal point of its plan to divert more trade and investment from traditional markets in Europe and North America to the world’s fastest growing economies.

Xi, touted as China’s next president, had a three-day visit to Africa’s largest economy, which is seeking to reduce a deficit in trade with China that hit $2.7 billion last year, skewed in Beijing’s favour.

South African Deputy President Kgalema Motlanthe and Xi co-chaired the 4th China-South Africa bilateral commission and signed a number of agreements, including an energy deal.

Source: Reuters Image: Reuters

Share

read more

Uganda: Organic Market Expands

On October 31st, 2010, posted in: News, newsletter, Nov 2010 News by

Tags:

David Ssempijja

Kampala — Uganda’s capacity to earn up to $100m per year from the $50b organic products world market has been hampered by the low levels of production. Uganda exported $30m (about sh66b) worth of dried and fresh organic products to different countries during 2008/09.

Share

read more

Mark Muhumuza

Kampala, Uganda — In 2003, oil became the major export earner for Chad after overtaking cotton that was about 80% of all export earnings.

The development of oil led the country to neglect commercial agriculture and even the oil earnings were not ploughed back into other sectors of the economy. Now the country has realised that food is after all the biggest product any country has. 

Share

read more
UA-23835279-1