You are here
Chinese yuan challenges U.S. dollar as African trade embraces other currencies
By Jevans Myabiage
South China Morning Post, Hong Kong
Sunday, January 21, 2024
When you land at the Kenneth Kaunda International Airport in Lusaka, Zambia, one of the billboards welcoming you to the Zambian capital advertises the services of the Bank of China.
There are not many countries in Africa where the Chinese government-owned financial institution offers fully fledged banking services in yuan, the Chinese currency.
In addition to Zambia, the BOC has a branch in Johannesburg, South Africa, as well as a representative office in Kenya's capital, Nairobi.
But it was in the southern nation of Zambia where BOC established its first African subsidiary, allowing customers to make deposits in and even withdraw Chinese yuan.
Branches in both Lusaka and Kitwe, a mining town in the country's northern copper belt, serve the growing number of Chinese mining firms and immigrants.
Recently the lender also announced that its Zambian division would help to boost the use of the yuan for trade as part of China's efforts to promote the Chinese currency in Africa. ...
... For the remainder of the report:
... ADVERTISEMENT ...
Guanajuato Silver Commences Processing
Third-Party Gold and Silver at El Cubo
Company Announcement
Wednesday, January 17, 2024
VANCOUVER, British Columbia, Canada -- Guanajuato Silver Company Ltd. (TSXV:GSVR) (OTCQX:GSVRF) announces commencement of a relationship with a Mexican silver mining company to process a portion of its surface inventory of mineralized material at Guanajuato Silver's wholly owned El Cubo mines complex in Guanajuato, Mexico.
Guanajuato Silver's chairman and chief executive officer, James Anderson, said: "We are excited to have reached this agreement, which will use a considerable amount of the excess capacity that exists at our El Cubo mill. We believe both parties will benefit from this agreement, as we collectively look to expand silver production in the Guanajuato area through the processing of low-cost and readily available material.
"With additional unutilized capacity still available at El Cubo, we continue to pursue similar business agreements with other mining groups in the area." ...
... For the remainder of the announcement:
https://gsilver.com/news/2024/
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
