China Exim Bank

For Chinese, Africa is the new El Dorado. An estimated 1m Chinese have moved to Africa in the last two decades in pursuit of a more prosperous life. They are opening shops, buying land, and exploiting mines. But how welcome are the Chinese in Africa? And is their arrival a force for good?

Looking for answers to these timely questions, Howard French, a former Shanghai bureau chief of the New York Times, undertook a grand voyage through the African continent. He met with a diverse array of Chinese merchants, entrepreneurs and business men and asked them about their practices, methods, and outcomes. Continue reading »

 Zambian President Rupiah Bwezani Banda toasts with Chinese President Hu Jintao, 2010When it comes to loans, Africa has a clear preference: lots from China, a little less from the World Bank please.

According to data compiled by rating agency Fitch, loans from China’s Exim bank to Africa in 2011 were double that of the World Bank, cementing a trend which started around 2005. Continue reading »