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Africa, China continue to strike investment deals

Africa continues to attract the interest of global investors and the world’s biggest market. China’s investment ventures in Africa strongly suggest that the continent is seen as the new sleeping giant. As the bond between Africa and China strengthens, global leaders and investors will follow suit in trusting the opportunities available across the continent.

China and Africa’s recent union is not only a milestone in Africa’s development, but is an indication of global interest in the continent.

The China-Africa summit signalled a milestone in China-Africa relations. Chinese President Xi Jinping announced ‘10 major plans’ to increase collaboration with Africa over the next three years, including establishing regional vocational education centres and colleges to bridge Africa’s skills gap. He pledged that the institutions would train 200,000 technicians, as well as provide African students numerous training opportunities in China. Xi Jinping emphasised how China and Africa share a common future, and commended the unity that the Chinese and Africans have forged over the years.

Sindiso Ngwenya, Secretary General of the Common Market for Eastern and Southern Africa (COMESA) said: “The COMESA region is rich in both natural and human resources, making it one of the key choices for financiers, so it’s understandable that Chinese investors are increasingly turning to the region.”

Francis Gatare, CEO of the Rwanda Development Board (RDB) comments: “The recent relations between China and Africa are a clear indication of the continent’s untapped potential to be a world power. No longer does the world stage view Africa as a continent that needs to be saved, with China, the world’s second largest economy taking Africa seriously, is a testament of that. Investors and nations alike are tracking the Chinese vote of confidence and following through with investment deals. The summit which will be taking place in Kigali, Rwanda on the 5th and 6th of September 2016 will be a prime example of Africa’s growing economic prowess, and the interest it will gain from global leaders in the years to come.”

The Government of Rwanda is due to launch in Kigali, Rwanda, the Global African Investment Summit COMESA slated to take place on 5th and 6th of September 2016. The summit is a prestigious investment and networking platform, aimed at delivering international trade and investment to Africa’s most dynamic region.

The summit will bring together global and regional investors representing US$250 billion in managed funds, with African heads of state, government ministers and private sector businesses leaders.

Rwanda offers investment opportunities and is amongst the region’s fastest growing economies. The country has been frequently on top rankings for the best place to do business and to invest in Africa, with an average GDP growth of 8% for the last decade.

The partnership between COMESA TGAIS–COMESA together with the government of Rwanda, is held under the patronage of His Excellency Paul Kagame, President of the Republic of Rwanda.

By: Maya Harruna

Source: East African Business Week