Wednesday, 02 May 2012 14:55

Newsletter 9

In this newsletter:

  • Chinese company in the move for nation’s tallest building
  • Ghana going for a record load deal with China Exim Bank
  • Uganda to see a multimillion dollar Chinese School

Chinese company in the move for nation’s tallest building

An emerging Chinese company, Guangdong Chuanhui Group, is moving aggressively to erect one of the tallest buildings of not only the nation but also the continent. It is awaiting the final green light from the city administration for acquisition of around 41,000sqm of land to construct a 58 storey building.

It was in 2010 that the Chinese company submitted its proposal to build this icon which is destined to be a five star luxury hotel. Guangdong Chuanhui manages six large hotels in China and wants to implement the project quickly.

Upon completion the property will be one of the five tallest buildings in Africa. Originally the building was to rest on a 50,000sqm of land on the road side of Africa Avenue. Back in 2010 the building was estimated to cost ETB 2.4 billion. However the building will now cost many folds of that number due to the inflation and it will also rest on an area around Urael church (on Haile Gebre Sellassie Avenue) approved by the city administration.

According to the City Land Administration Officials, four additional local and international investors have submitted five star hotel proposals to the city administration.


Ghana going for a record load deal with China Exim Bank

$ 6 billion is the amount that Ghana is eyeing to secure from the China Exim Bank (CEB). It is reported that the fund will be used to enhance the social and infrastructure qualities of the country.

According to Vice President, Mr John Dramani Mahama who has visited China recently, this comes right after Ghana secured the $3 billion facility from the same lender for processing of gas from the Jubilee Oil Fields and other projects. $2 billion to be released would cater for the Takoradi Harbour expansion project, the Western railways lines rehabilitation and the Accra Plain irrigation among others. Mr Mahama also added that when the deal is complete the money will be poured in $ 2-billion tranches and would be used for social infrastructure such as education, health, electricity and water.

Noting that full force to secure the fund was not exerted, he suggested that the chairman of the Exim bank, in one of their meetings, has given assurance for better facility and enhanced communication.


Uganda to see a multimillion dollar Chinese School

The Chinese ambassador in Kampala - Zhao Ya Li - announced that his government is set to construct a modern multi million Chinese School in Uganda. “My government is going to fund the construction of modern Chinese teaching facility at Luyanzi College. So far the Chinese government has released $90,000 (Shs 230m) for this project school,” said Zhao.

When officially launching the teaching of Chinese language Zhao said the learning of Chinese language would promote good people and trade relations.Chinese is the latest foreign language to be introduced in Ugandan school syllabi.

“Following the discovery of oil and related investment opportunities, many Chinese firms and companies are coming to Uganda. Learning of Chinese will definitely open new windows for Ugandans in terms of employment opportunities,” he said.

He pointed that the need to have a well-organized Chinese teaching school is motivated by the fact that the increasing number of Chinese investors coming in to the country would prefer Chinese speakers. As at now there are 200 Chinese firms in Uganda employing over 30,000 Ugandans.


Last modified on Thursday, 03 May 2012 13:04