Tag: Investment
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China Remains Africa’s Largest Source of FDI and Job Creation, Says EY’s Annual Investment Report
China was the leading source of foreign direct investment in Africa from 2016 to 2020 in terms of both jobs and capital invested, but third behind the United States and France in terms of the number of projects, according to Ernst & Young (EY)'s ...
Xi Lays Out an Ambitious Agenda For Engagement in Africa With a Focus on Vaccines and Trade
Chinese President Xi Jinping unveiled a sweeping package of trade, health, and investment programs that all appear intended to address the continent's immediate demand for combatting the COVID-19 pandemic and sparking economic growth. The president laid out his proposals on Monday ...
FOCAC 8 Preview: The Trade Agenda
Trade issues are widely expected to top the agenda at next week's Forum on China-Africa Cooperation ministerial conference in Dakar. African countries will be looking for China to further widen its market to agricultural and processed raw materials and China is ...
WEEK IN REVIEW: China Announces Strong African Trade, FDI Data in the Run Up to FOCAC
Two-way China-Africa trade reached $185.2 billion in the first nine months of the year, according to new data provided by Chinese Vice Commerce Minister Qian Keming. At this pace, the two regions will easily surpass last year's total of $187 billion. Chinese investment in Africa during the same period increased ...
FOCAC 8 Preview: The Economic Agenda
This year's Forum on China-Africa Cooperation (FOCAC) conference will take place amid considerable uncertainty in the global economy and profound economic changes underway in China. As such, it's widely expected that the outputs from the upcoming forum will be very different ...
Why Pragmatism, Not Ideology Drives Chinese Economic Engagement in Africa
In these contentious times, China is often accused of exporting its statist economic model to Africa and other developing regions as part of a broader ideological agenda to create a new Sinocentric international order. But Tsinghua University Professor Tang Xiaoyang argues
China Merchants Group Exporting Its Shekou Model of Port-industrial Development to Africa
As the final frontier for trade growth, Africa is the only region where exponential economic and cargo growth is still possible. The continent is home to some of the world’s fastest-growing economies. However, many existing African ports do not have the capacity to accommodate a growing demand ...
Chinese Man Awarded Honorary Chieftan Title in Central Nigeria
The chief of the central Nigerian town of Keffi in Nasarawa State awarded a local chieftain title to the Shandong native Cong Hui (丛辉) in appreciation of his contributions to economic development in the community. Cong works for PowerChina and is ...
If the U.S. is Going to Compete Against China’s BRI, Then It’s Going to Have to Mobilize the Private Sector… And That Won’t Be Easy
If the proposed B3W has any chance of rivaling China's eight-year-old Belt and Road Initiative, the U.S. government is going to have to persuade development finance institutions, private companies, and Wall Street that building infrastructure in some of the world's highest risk countries is a good investment. ...
Africa Accounts For Just 1.7% of China’s Total Global Investment Stock, Says MOFCOM
Even amid the pandemic, Chinese investment overseas last year increased by 12.3% to $153.71 billion, according to a new report published last week by the Ministry of Commerce, National Bureau of Statistics, and the State Administration of Foreign Exchange. 2.8% of ...
Even Amid a Pandemic, Chinese FDI in Africa Jumped Almost 10% Last Year
Chinese foreign direct investment in Africa increased by 8% in 2020 compared to the previous year, from $2.7 billion to $2.96 billion. Including the 2020 investments, the total Chinese FDI on the continent amounts to $47.4 billion, according to data in a new report published by the ...
Nigeria-Based, Chinese-Backed Mobile Money Platform OPay Raises $400 Million From Softbank-Led Round
The Nigeria-based, Chinese-owned mobile payment platform OPay closed its latest funding round with $400 million of new investment in a deal that values the company at an impressive $2 billion. This latest fundraising round marks was led by Japanese ...