Chinese President Xi Jinping on Friday announced $60-billion (R864-billion) of assistance and loans for Africa as he addressed a summit of African leaders in Johannesburg.

"China decides to provide a total of $60-billion of funding support that includes $5-billion of grants in zero interest loans (and) $35-billion in preferential facility and export credit loans and concessional loans," he said. The Forum on China-Africa Cooperation (Focac) will continue on Saturday as banking, business and political delegates from African countries and China gather to talk about how to develop cooperative, egalitarian relationships for the future.

The traditional historical model for Chinese companies doing business in Africa has been on the basis of engineering, procurement, construction (known as EPC), where a contractor designs a project, procures all the equipment and materials, and constructs and delivers the facility to a client.

But this is beginning to change, giving way to one where the Chinese investor commits to working with a local partner and takes an equity stake in a joint venture. What can sound like so much lip service when it comes from politicians packs a lot of punch when it is a discussion between businesspeople and financiers with experience on the ground.

The theme for the forum is “Africa-China Progressing Together: Win-Win Cooperation for Common Development ” and the Summit is expected to adopt the Johannesburg Declaration and Action Plan which will outline specific measures aimed at consolidating the growing mutual partnership between Africa and China.

Also worth watching is what might emerge when South African President Jacob Zuma and Nigerian Nigerian President Muhammadu Buhari come into contact. It is believed that they are more than likely to discuss the $5.2billion penalty imposed on mobile operator MTN by Nigerian regulators for failing to disconnect 5.1 million unregistered users.

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stephenduru:
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stephenduru:
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I can see government representives but our own president who is suffering from travelermeniac disease decided to be there himself while his house is on fire!
And he is not even in the pix! I saw Zuma with his Chinese counterpart!

wheriz buhari?

jstbeinhonest:
wheriz buhari?

he went outside to sip Kunu and chew gworo. That's the only substances that give him inspiration

South Africa where's Buhari ooo....

NobleAky:
he went outside to sip Kunu and chew gworo. That's the only substances that give him inspiration

Oh shut up...jobless tramp.

NobleAky:
I can see government representives but our own president who is suffering from travelermeniac disease decided to be there himself while his house is on fire!
And he is not even in the pix! I saw Zuma with his Chinese counterpart!

Some are mad....this he-goat is roaming

May God not count us as one of the roaming goats

Rossikk:
Oh shut up...jobless tramp.

keep quite zombie Buhari's Doll/puppet!

These useless summits
They will talk something important
These die hard power African dictators will come home and do another thing.
From USA Africa summit
France africa summit
India Africa summit
China africa summit
Next will be syria Africa summit
Every Tom dick ans harry now summon african rulers at will