China shuts hundreds of banks as Beijing moves to shore up its financial system
China is accelerating its consolidation of smaller, mostly rural banks in a bid to shore up its financial system, amid ongoing concerns over an economic slowdown in the country.
Saudi Arabia exits China-backed payment platform as Africa deepens its yuan payment links
Gulf oil powerhouse Saudi Arabia has exited a China-led digital currency platform designed to facilitate cross-border payments without relying on traditional dollar-based financial networks, even as African banks deepen their links to China’s yuan payment infrastructure.
China calls Ethiopia the continent’s most dynamic market, as billions in investments flow in
Due to Ethiopia’s initiatives facilitating foreign investment entry, Chen Hai, the Chinese Ambassador to the East African nation, recently characterized the country as Africa’s most dynamic market.
SA lands major soybean export deal with China
South Africa is set to export about 200 000 tons of soybeans to China in November 2026, marking only its second soybean export deal with the country.
Indian billionaires challenge China for gold, lithium and telecom wealth in Africa
India’s richest people are growing their work in Africa, putting billions into areas like mining, mobile phones, factories, and clean energy.
AfDB approves US$114 million loan to support Africa’s first EV battery gigafactory
The African Development Bank (AfDB) has approved a €100 million ($114 million) loan to support the development of Africa’s first electric vehicle battery gigafactory in Morocco, marking a major milestone in the continent’s efforts to build its own clean energy manufacturing industry.
Xi Jinping outlines China’s global vision for AI
Chinese President Xi Jinping on Friday cast Beijing as the champion of a new global AI order, using China’s premier tech conference to promote open-source technology and challenge U.S. influence over the rules governing the fast-moving sector.
China exports in June rise at fastest pace since 2021 as AI boom, tariff rush lift trade
China’s trade growth accelerated far more than expected in June, as booming global demand for AI hardware and a rush by exporters to beat anticipated U.S. tariff hikes turbocharged shipments.
Zimbabwe courts Chinese giant to accelerate Mt Hampden New City project
Zimbabwe has engaged the China State Construction Engineering Corporation (CSCEC) seeking technical and financial collaboration in the development of the New City in Mt Hampden.
Yuan makes inroads into Africa’s US$-dominated trade system as China-Africa trade nears $400 billion
The Chinese yuan is steadily gaining ground in Africa’s trade system as the continent’s economic ties with Beijing deepen, challenging the long-standing dominance of the U.S. dollar in select cross-border transactions.