South Africa’s Times reports that Yang Fan transferred some of the money allegedly siphoned from the Nuctech-Namibia deal to the South African law firm Smith Tabata Buchanan Boyes. (The Times and the law firm’s director apparently have some difficulty in telling which is Mr Yang’s family and which is his given name.) According to a New York Times report of August 1, Yang had listed himself both as Nuctech’s Africa representative and as Teco Trading’s marketing manager.
The Namibian Government has resolved to turn to the private sector to raise funds for the 62 kilometre Oshikango-Ondangwa railway project after negotiations with the Chinese industrial giant CMEC fell by the wayside, which effectively dismantled Chinese’s monopoly that has been in existence since 2008 when Chinese President Hu Jintao visited Namibia, Informanté wrote on July 23.
Tags: Africa, business, CCP, China, competitiveness, corruption, economy, foreign trade, international, lobbyism, state capitalism, subsidies
