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China in Africa: The Real Story

China International Fund in Africa: Another Failed Project

Deborah Brautigam

Once again, the murky Hong Kong company China International Fund (CIF) shows that it "talks the talk" but can't "walk the walk". The East African reports that a project under discussion for four years to partner with China Sonangol [CIF's joint venture with Angola's state-owned oil firm Sonangol] to revive Tanzania's state airline, Air Tanzania, remains moribund. Air Tanzania is threatening to partner with Air Zimbabwe now. Hmmm.Thanks to Henry Hall for the tip.

This project is one of those discussed in the July 2009 "88 Queensway Group" investigative report on CIF by the U.S.-China Economic & Security Review Commission. They reported that the "Tanzanian oil company grants China Sonangol [the joint venture] 3 licenses for oil exploration after it purchases 49 percent of Air Tanzania." This deal later appears to have fallen apart after protests that it violated Tanzania's rules on open tenders. No oil licenses, no partnership.