1. The 7th African Union-EU Summit was held in Angola. Many EU leaders landed at the Chinese-aided Angolan airport, vying for African relations after China. The EU is currently Africa's largest trading partner, with one-third of Africa's exports going to Europe.
2. Kenya's Devki Group invested $550 million in a new steel plant in Uganda, scheduled to begin production in December 2027. It is expected to create 20,000 jobs, and the steel produced will be sold to Kenya, Tanzania, Rwanda, South Sudan, and the Democratic Republic of Congo. The group has 19 factories across nine industries and 14,000 employees in Kenya, making it the largest private employer in the country.
3. Nigeria plans to raise $2 billion to lay 90,000 kilometers of new fiber optic cable. The World Bank plans to provide a $500 million loan, the African Development Bank will raise $300 million, and the Nigerian government will contribute $1 billion.
4. SarariPlanner.org launched, primarily targeting African travel agencies and connecting them with global tourists. It aims to reduce systemic issues such as false advertising, high hidden costs, and capital flight from Africa. The platform uses intelligent algorithms to accurately match customer needs, and all travel agencies must pass an evaluation and audit.
5. Chinese and Indian automakers will begin full-scale production in South Africa. Currently, only 37% of cars sold in South Africa are locally produced, 36% are imported from India, and 11% are imported from China.
6. McKinsey predicts that by 2030, demand for data centers in Africa will increase 3.5 to 5.5 times, requiring an additional $10-20 billion in construction investment.
7. Currently, China's silver inventories have fallen to their lowest level in ten years, and gold inventories on the Shanghai Futures Exchange have fallen to their lowest level since 2015. China's gold exports in October reached a record high of 660 tons.
8. Kenya, along with 18 other African nations, is preparing to launch a regional shipping route aimed at reducing reliance on foreign freight companies and soaring shipping costs, potentially saving African economies up to $3 billion annually.
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