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About Africa and Southeast Asia

12 Jun 2024

Tolaram to buy majority stake in Guinness Nigeria

Tolaram, headquartered in Singapore, is acquiring Diageo's 58.02% stake in Guinness Nigeria for N81.60 per share. This strategic move combines Tolaram’s local manufacturing and distribution expertise with Diageo’s global brand-building prowess. The acquisition underscores the strengthening economic ties between Africa and Singapore, highlighting the potential for international partnerships to foster local innovation and development. This collaboration is expected to significantly boost the Nigerian market and enhance Tolaram's presence in Africa.

Tolaram to buy majority stake in Guinness Nigeria

6 Jun 2024

Ethiopia and Singapore Strengthen Ties with Historic Visit and New Agreements

From June 4-6, 2024, Singapore hosted Ethiopian Prime Minister Dr. Abiy Ahmed Ali, marking the 55th anniversary of diplomatic ties. The visit included high-level meetings, sharings by President Tharman, Prime Minister Wong and Prime Minister Abiy, and the signing of agreements to enhance cooperation in air connectivity, transport, and digitalization. Both nations celebrated their shared multicultural values and committed to strengthening economic and diplomatic relations, positioning themselves as gateways between Southeast Asia and Africa.

Ethiopia and Singapore Strengthen Ties with Historic Visit and New Agreements

16 May 2024

Can Singapore unlock finance for Africa through carbon credit?

Africa's biodiversity buffers climate change impacts, but receives little compensation. Carbon credits offer a solution, with Africa's initiative aiming to unlock billions for climate projects.

Despite criticism, global demand for credits is rising. Singapore's Climate Impact X exchange positions it as a key player, leveraging financial expertise to tap into Africa's market. While facing competition from emerging African hubs, Singapore's infrastructure and expertise could make it a preferred choice, driving sustainable development and strengthening ties with Africa.

Can Singapore unlock finance for Africa through carbon credit?

11 Apr 2024

Japanese private sector gains ground in Africa but caution still reigns

Global powers are increasingly holding summits with Africa, recognizing its economic potential and resource wealth. Japan pioneered this approach with the Tokyo International Conference on African Development (TICAD) in 1993, inspiring similar summits.

“Japan has an ageing population but is cash rich. African countries are often young, fast-growing economies, but lack capital. In that regard, it is without doubt a great partnership,” Emma Ruiters, a senior analyst at the Tony Blair Institut, notes.

Japanese private sector gains ground in Africa but caution still reigns

27 Mar 2024

Absa to open China office, eyes trade revenue boost

Absa Group, a Pan-African lender, expects a big rise in trade finance revenue due to their new office in Beijing, China. This office will advise Chinese corporations on trade finance, foreign exchange, and cross-border payments.

Absa aims to double their trade finance contribution from the China-Africa corridor in the next few years. They will focus on documentary trade products and see potential in both state-owned and commercial clients.

This comes as China is shifting its focus in Africa from infrastructure projects to trade.

Absa to open China office, eyes trade revenue boost

12 Mar 2024

How Singapore overtook China as Nigeria’s top trading partner

Singapore has overtaken China as Nigeria's top import partner for the first time in at least 16 years. This is due to a surge in imports of military equipment from Singapore, likely due to Nigeria's ongoing security challenges. However, experts believe that China is likely to reclaim its position as Nigeria's top importer in the long term, due to its significant manufacturing output.

How Singapore overtook China as Nigeria’s top trading partner

10 Jan 2024


China-Africa Lending to Snap Seven-Year Decline, StanChart Says

Standard Chartered predicts a potential increase in China's lending to Africa for the first time since 2016, driven by pledges for projects like renewable energy and gas. Although below the 2016 peak, new lending is expected to target countries that haven't borrowed much before. This development, amid a global rise in interest rates, could provide relief to African nations facing challenges in international capital markets. China is likely to focus on francophone West African nations, Tanzania, Uganda, Nigeria, and Egypt, emphasizing private sector investment.

Bilateral trade between Africa and China is estimated to have reached a record $300 billion in 2023.


China-Africa Lending to Snap Seven-Year Decline, StanChart Says

26 Sept 2023

ASEAN courts Africa amid China slowdown: business council chief

Amid China's economic slowdown, Southeast Asian companies are exploring investments in African markets for growth and new opportunities, according to Arsjad Rasjid, Chairman of the ASEAN Business Advisory Council. While acknowledging the impact of China's slowdown on the region, Rasjid sees it as an opportunity to focus on nontraditional markets, with Africa being a key target due to its large population. Rasjid highlights the need for ASEAN to assess demand and invest in African infrastructure to facilitate efficient trade. Some Southeast Asian companies, like Indofood and Mega Lifesciences, are already active in Africa.

ASEAN courts Africa amid China slowdown: business council chief
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