The following graph shows the economies that achieved GDP growth rates above 6% and those that barely managed to grow by 3-3.5% and below. Cote d’Ivoire, Ethiopia, Mozambique, Tanzania, Rwanda, Kenya are in the former group meanwhile Angola, Nigeria, Ghana, Botswana, South Africa, Congo and Equatorial Guinea are in the latter.

“…These economies, which can be referred to as the “2015 losers” instead experienced; wider fiscal deficits as was the case in Nigeria, where it almost doubled from 2% of GDP in 2014 to 3.9% of GDP in 2015, in South Africa where the deficit currently stands at 4.1% of GDP, and in Ghana where it currently stands at 6% of GDP; wider current account and external trade deficits; significant currency depreciations as was the case for the South African Rand (which lost over 50% of its value and in early December went below the R15 per US dollar mark), the Nigerian Naira (which lost over 30% of its value and traded at about N220 per US dollar), the Ghanaian cedi (which lost over 40% of its value and traded at about 4.2 to the US dollar, while Angola’s kwanza lost over 22% of its value, trading at about 132kwanza to the US dollar.”

“The second lesson is that major oil and commodity exporters need to diversify/transform their economies…(…) Such is the case with the Bole Lamin Export Processing Zone (EPZ) -created by the Ethiopian government in 2013….(…) in June 2015, the government of Gabon officially opened the Comilog Metalworking Complex in the Eastern town of Moanda for the processing of manganese ore.”

“The third lesson is that regional integration, both at a continental level and at a sub-regional level…(…) The Continental Free Trade Agreement (CFTA) signed in Sharm-el-Sheikh in June 2015, regrouping the EAC, the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), and representing a total GDP of $1.5 trillion and combined population of 600 million (roughly 60% of Africa’s GDP and total population) will usher in even more benefits.”

Read the complete article and find out the first and fourth lessons.

“…China-Africa relations have now reached a new historical starting point. Given their shared development tasks, highly compatible strategic interests, and broad prospects for mutually beneficial cooperation, the Chinese and African people will advance side by side with an ever-growing sense of purpose. China is willing to work with African countries to build and develop a China-Africa comprehensive strategic and cooperative partnership featuring political equality and mutual trust, win-win economic cooperation, mutually enriching cultural exchanges, mutual assistance in security, and solidarity and coordination in international affairs. China is devoted, as are African nations, to promoting an all-round development of China-Africa friendly cooperation, working together to pursue development and fulfill dreams, jointly delivering more benefits to Chinese and African people, and making greater contributions to world peace, stability, development and prosperity…”

“…China will adhere to the principles of its Africa policy -- sincerity, practical results, affinity and good faith, uphold the values of friendship, justice and shared interests, and push for new leapfrog growth of its friendly and mutually beneficial cooperation with Africa.”

“ It will strengthen coordination and cooperation with other countries as well as international and regional organizations on the basis of the "Africa-proposed, Africa-agreed and Africa-led" principle and with an active, open and inclusive attitude. China will explore tripartite and multilateral cooperation in Africa so as to jointly contribute to peace, stability and development on the continent….”

The Policy Paper covers the following:

Part I. Establishing and Developing Comprehensive Strategic and Cooperative China-Africa Partnership and Consolidating and Bolstering the Community of Shared Future between China and Africa

Part II. Upholding the Values of Friendship, Justice and Shared Interests and Adhering to the Principles of Sincerity, Practical Results, Affinity and Good Faith

Part III. Promoting the All-Round Development of China-Africa Cooperation

Part IV. FOCAC and Its Follow-up Actions

Part V. China's Relations with African Regional Organizations

Read the Full Paper.

Africa: Briefing On China-Africa Business Cooperation Held in Beijing

“Briefing on China-Africa Business Cooperation organized by the Trade Promotion Center and hosted by China Africa Industrial Forum (CAIF) and China WTO Committee Africa Affairs (CWTO) was held in Beijing on the morning of April 26th, 2016.”

“China-Africa cooperation puts industrialization at the priority, which is in line with Africa's need for economic transformation and development.”

“… the Trade Promotion Center after its establishment, explaining the seven responsibilities and four initiatives of the Center…. the Center comes under the direct leadership of CAIF and CWTO and follows the new ideas and thoughts of President Xi Jinping on China-Africa cooperation. It will keep to the principle of "responsibility, integrity, service and sharing" to build a sound platform, improve its competence, provide good services, and make its due contribution to China-Africa business cooperation and China-Africa friendship.”

“Xia Yan, deputy director of Trade Promotion Center, gave a briefing on China-Africa business cooperation, focusing on the projects in Madagascar, Mauritius, Ethiopia, Zambia and Benin, covering the fields of agriculture, construction, energy, mining, light industry and tourism, which offers diversified information for Chinese businesses having the intention to invest in Africa.”

Read the full article.

China Plans 'Largest Free Trade Zone' in Horn of Africa

“The FTA, which covers an area of six square kilometers [2.3 square miles], is aimed at stimulating China's presence in Africa and the Red Sea regions,"

“…here was a 21-year agreement between Dubai-based Jebel Ali Free Zone, one of the world's largest free trade zones, and Djibouti port.”

“Out of the total cost, 90 percent of funding for the port infrastructure development came from China…”

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China's Africa Push Reaches Currencies in Deal Investors Decry

“…President Muhammadu Buhari signed a currency agreement aimed at encouraging trade with China and reducing Nigeria’s demand for dollars to relieve pressure on its dwindling foreign reserves.”

“With the economy set to expand this year at the slowest pace since 1999, according to the International Monetary Fund, Buhari last week signed off on a record budget that leaves the government with a deficit of 2.2 trillion naira ($11 billion).”

“…Nigeria needs to produce 2.2 million barrels a day and sell them at $38 a barrel to meet its fiscal targets.”

“Beijing has signed several bilateral currency swaps in the past eight years, including with South Korea, Malaysia and Argentina, in a push to let the yuan trade more freely. South Africa, which took on a 30 billion yuan ($4.6 billion) three-year swap in April 2015, is the only other African country to have agreed such a deal with China. Nigeria and China are considering a swap of about 20 billion yuan…”

Read the full article.