CHINESE President Xi Jinping announced while officially opening the Beijing Summit of the Forum on China-Africa Co-operation (FOCAC) that his country was pledging $60 billion for financing various projects in Africa.
The financing will be provided in the form of Government assistance as well as investment and financing by financial institutions and companies.
The $60 billion facility will see China implement eight major initiatives with African countries in the next three years and beyond, covering fields such as industrial promotion, infrastructure connectivity, trade facilitation, and green development.
The All Share index closed the week on a higher note adding 2.08 points (1,76 percent) to settle at 120.50 points. Old Mutual (gained $0,2240 to close at $6,0644, Delta put on $0,1086 to end at $2,5000 and Meikles added $0,0575 to $0,4000. Innscor went up by $0,0070 to trade at $1,4570 while Edgars closed at $0,0750 following a $0,0046 increase.
FBC Holdings Limited was the only lame duck losing $0,0014 to close at $0,2400.