Caixin Online published on 4 August 2015 an article titled "Auditors Probe Sinopec, Savvy Broker in Angola" by Huang Kaixi, Wang Xiaobing, and Yu Ning. The story looks at the business dealings of Hong Kong businessman Sam Pa and his relations with the state-run China Petroleum and Chemical Group (SINOPEC).
For further background on Sam Pa and the Queensway Group, see the posting on this blog on 5 May 2015.
Showing posts with label Sam Pa. Show all posts
Showing posts with label Sam Pa. Show all posts
Monday, August 10, 2015
Friday, August 8, 2014
Expose of Secretive Hong Kong-based Queensway Group Activities in Africa
The Financial Times published on 8 August 2014 a fascinating look at the secretive Queensway Group in an article titled "China in Africa: How Sam Pa Became the Middleman" by Tom Burgis.
Sam Pa seems to have been born in China but moved as a child to Hong Kong, where his network known as the Queensway Group is based. It has an office tower at 88 Queensway in Hong Kong. Its primary operation in Africa is located in Angola where its China International Fund has committed billions of dollars. It has activities in a number of other countries, including Guinea, Tanzania, Mozambique, Nigeria, and Zimbabwe. Chinese officials deny any link with the Queensway Group, but the Financial Times investigation established that Pa and his associates have connections to powerful interests in Beijing, including Chinese intelligence and state-owned companies. Pa's involvement in Zimbabwe has caused the U.S. Treasury Department to add him to a sanctions list.
Sam Pa seems to have been born in China but moved as a child to Hong Kong, where his network known as the Queensway Group is based. It has an office tower at 88 Queensway in Hong Kong. Its primary operation in Africa is located in Angola where its China International Fund has committed billions of dollars. It has activities in a number of other countries, including Guinea, Tanzania, Mozambique, Nigeria, and Zimbabwe. Chinese officials deny any link with the Queensway Group, but the Financial Times investigation established that Pa and his associates have connections to powerful interests in Beijing, including Chinese intelligence and state-owned companies. Pa's involvement in Zimbabwe has caused the U.S. Treasury Department to add him to a sanctions list.
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