Financial Times FT.com

Africa and China

China’s CDB seals Nigerian deal

By Matthew Green in Lagos and Jamil Anderlini in Beijing

Published: October 30 2007 22:01 | Last updated: October 30 2007 22:01

China’s drive into Africa’s financial services sector has taken a fresh turn, with China Development Bank entering a partnership with United Bank for Africa, one of Nigeria’s biggest lenders.

The deal, sealed last month but not yet officially announced, expands the Chinese bank’s ability to finance infrastructure projects in Africa.

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