Kenya and South Africa vying to host a Yuan (RMB) Clearing House but is the time right for Africa?

As China’s influence on the global and African economies grows, so does the desire to internationalise the Yuan. The competition to host a Yuan clearing house among the Asian economy’s trading partners has grown stronger. There is little or no surprise that the RMB has moved up to 13th in the list of world payment currencies from 20th as of January 2012. Trade remains a fundamental driver of this influence as shown by the volume of her exports and imports in 2012 estimated at USD 2.0 trillion and USD 1.8 trillion respectively. While the EU and US remain the top importers of Chinese products, economic conditions and competition are forcing China to grow its trade ties with emerging economies as well as Africa. Continue reading

Oil and gas to continue fuelling East Africa’s M&As

The M&A sub sector on the African continent has been dominated by Britain (437 deals worth USD 30.5 billion), France (141 deals worth USD 30.47 billion) and now China (49 deals worth USD 20.8 billion) over the past decade. Most recently, Kenyan and South African firms have been at the forefront of the deals within East Africa one of Africa’s fastest growing blocs. Continue reading