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Article: The Oligarchs Go On Safari.(Business)(Russian and Chinese businesses trade with Africa)
- Article from:
- Newsweek International
- Article date:
- October 15, 2007
- Author:
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Byline: Owen Matthews; With Karen MacGregor In Durban
Russians take their place alongside the Chinese in a battle for resources to fuel their growing empires.
Late on a Friday night at the Simba Saloon in downtown Nairobi, music by the Kenyan pop sensation the Boomba Clan is playing, and the ties are coming off. At the bar, banker types in expensive suits swap news of the latest bank IPOs and mineral concessions, the must-have gossip in Africa's biggest boomtown. Some of the conversations are in English. Some are in Chinese. And increasingly, many of them are in Russian, as Moscow begins to give both the West and Beijing a run for their money in the race ...