China 'wants to set up factories in Africa'

The Chinese government has shown "strong interest" in setting up factories in Africa, helping the continent develop a manufacturing base and boost its economy, the president of the World Bank said today.

While most attention on China's investment in Africa has focused on its large-scale pursuit of natural resources, experts say a growing number of the country's entrepreneurs are experimenting with production there.

However, some questioned whether the workshop of the world was ready to outsource much of its industry.

"There is not only willingness but strong interest among some in China, and I've discussed with the minister of commerce, Chen Deming, that there may be possibilities of moving some of the lower-value manufacturing facilities to sub-Saharan Africa, toys or footwear," Robert Zoellick, the president of the World Bank, told the Financial Times.

He suggested Chinese knowhow in production and marketing could boost Africa's declining share of international trade, but admitted infrastructure improvements were needed to attract companies.

It is thought the scheme might involve creating industrial parks -- possibly part-funded by the World Bank and China -- so companies could settle in quickly and operate more effectively.

The institution sees manufacturing as a missing element in the continent's development.

China is keen that its presence in Africa should be seen as more than a resources grab

Submarine cables to help bring Africa into global economy

October 24, 2008, 10:53 AM —

Some governments in East Africa are stockpiling business capacity in anticipation of the four submarine cables that are expected to bring unprecedented connectivity options and related business opportunities to the region, according to a study by IDC.

"For example, Kenya is already subsidizing communications costs for business process outsourcing providers and establishing a BPO zone," said Francis Hook, IDC East Africa regional manager. "This ensures that there will be a supply of labor in place once cheaper and more reliable broadband arrives."

Governments in the region hope to use the new capacity to transform their economies, and land infrastructure projects abound as governments lay cable to bring capacity in from the coast, an especially important project for landlocked nations, Hook noted.

Source

SA steel monopoly is not forever

Political Correspondent

CAPE TOWN — The Industrial Development Corporation (IDC) is to invest R100m in an iron ore beneficiation process as part of a long-term strategy to break ArcelorMittal’s monopoly over the domestic steel market, which has resulted in high prices.
The state-owned corporation is engaged with Mintek in a feasibility study into the construction of a R2,8bn carbon steel mill producing 3-million tons a year.

Source:
http://www.businessday.co.za/articles/economy.aspx?ID=BD4A699780

Ford SA to boost exports

January 30, 2008
Johannesburg - Ford Motor Company of Southern African (Ford SA) plans to invest more than R1.5 billion to expand operations for its next generation compact pickup truck and Puma diesel engine, it said on Wednesday.

The investment will commence in 2009 and be split between its assembly plant in Silverton, Pretoria and engine facility in Struandale, Port Elizabeth. Production of the new diesel engine is scheduled to begin in 2010, followed by production of the new pickup in 2011.

Full story:
http://www.busrep.co.za/index.php?fSectionId=&fArticleId=4230838

Germany Invites Entrepreneurs to Invest in Angola

Luanda, 01/30 - German government announced Tuesday in Luanda it is mobilising its businesspeople to invest in Angola, as part of a programme aimed at boosting bilateral relations.

The German ambassador to Angola, Bernd Morast, who was speaking at the end of an audience with the first deputy speaker of the National Assembly, João Lourenço.

http://www.angolapress-angop.ao/noticia-e.asp?ID=592044

Sierra Leone leader seeks foreign investment

Sierra Leone leader seeks foreign investment

Wed 30 Jan 2008, 7:18 GMT

By Giles Elgood

LONDON (Reuters) - Sierra Leone is looking for investment from the international community to help it recover from a decade-long civil war, its president said on Tuesday.

Sierra Leone is in a "very terrible situation" after the civil war that ravaged the West African nation from 1991 to 2002, Ernest Bai Koroma said during a visit to London.

http://africa.reuters.com/business/news/usnBAN026280.html