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China’s relationship with Africa is set to deepen. At a summit in Beijing in early September, China’s president, Xi Jinping, pledged to deliver US$51 billion in loans, investment and aid to the continent over the next three years, as well as upgrading diplomatic ties.
Chinese President Xi Jinping said Thursday that China will provide 360 billion yuan (more than $50 billion) in financial support to Africa over the next three years.
The African National Congress and its largest rival, the white-led, pro-business Democratic Alliance, agreed on Friday to work together in South Africa's new government of national unity, a step change after 30 years of ANC rule.
The African National Congress has lost its political monopoly on South Africa. Election results on Saturday showed that the party had fallen short of winning an absolute majority for the first time since the end of apartheid in 1994.