Tag Archives: China Investment

Chinese Miner to Start Copper Output in Eritrea by Next Year

Chinese firm Sichuan Road & Bridge Co. to develope the Asmara project to produce copper, zinc, gold and silver by early next year
The Asmara Mining Share Company, holder of the Asmara Project in Eritrea, is a 60:40 joint venture between Chinese SRBM and state-owned ENAMCO. The project hosts four known deposits at Emba Derho, Adi Nefas, Gupo, and Debarwa. (Photo: Taylor Weidman/Bloomberg)

BY NIZAR MANEK | BLOOMBERG

A unit of Sichuan Road & Bridge Co. will start producing copper, zinc, gold and silver at a mine in Eritrea by early next year, helping diversify the country’s agrarian economy, a mines ministry official said. Continue reading Chinese Miner to Start Copper Output in Eritrea by Next Year

China Scales Back Investment in Ethiopia

Ethiopia’s economy pressured by rising debt and foreign exchange crisis

Reaching their limits. Chinese entities, which have loaned Ethiopia more than $13bn between 2006 and 2015 for everything from roads and railways to industrial parks, are now taking a “more cautious approach” in the face of a rising forex crisis and high government debt profile.

BY THE FINANCIAL TIMES

China is scaling back investment in Ethiopia in the face of rising foreign exchange shortages and government debt, highlighting the fragility of the African nation’s economy as the new prime minister prioritizes political reform to quell three years of deadly social unrest.  Continue reading China Scales Back Investment in Ethiopia

New $25m Science College Building Inaugurated

BY TESFANEWS

In line with a 2014 agreement that was reached between the Governments of Eritrea and the PRC, Chinese Civil Engineering Construction Corporation (CCECC) has completed the construction of the 3-storey Science College building complex and handed over to the Ministry of Education. Continue reading New $25m Science College Building Inaugurated

Investment, not charity, the key to future prosperity for Africa: President Afwerki

“We need investments, real investments. Charity is not going to save Africa, or transform Africa into a real market,” President of Eritrea Isaias Afwerki

Africa needs better partnerships, conducive investment atmosphere and a thriving manufacturing sector in order to prosper: PIA

By Shanghai Daily,

As the mining sector opens up, Eritrea looks forward to building a sustainable economy. “We need investments, real investments. Charity is not going to save Africa, or transform Africa into a real market.”

Speaking during an interview with Prisma Reports, in which he praised China’s business relationships in Africa, President Isaias Afwerki of Eritrea has outlined what he believes is the solution: better partnerships, conditions that are conducive to investment, without doubt – but also, importantly, a thriving manufacturing sector. Continue reading Investment, not charity, the key to future prosperity for Africa: President Afwerki