Enerst and Young’s latest report on Africa Attractiveness has revealed that China is now the largest contributor of foreign investment in terms of capital and jobs. The report shows that China has invested over 66.4 billion us dollars in Africa and created about 131 000 jobs. Chinese companies have invested in diverse sectors including services, manufacturing and resource oriented investments. This has led to major developments in infrastructure since they have erected and rejuvenated ports, roads, telecoms, dams, airports etc. Diversifications of the Chinese endeavors cover both countries with vast resources such as Nigeria and Angola and countries that heavily rely on agriculture like Kenya. China now stands as Africa’s largest trading partner with the trade relationship being called Sino-Africa trade. This trade has grown rapidly since the 1990s. One good example is a Chinese built railway that links Adis Abba in Ethiopia to the port of Djibouti that commenced on October 2016 with an investment of 4 billion US dollars.
More: Africa News
A note from StartupBiz Zimbabwe: Everyday we send business updates via Whatsapp. Click the link to join: https://chat.whatsapp.com/BsX8o8JeonxFbKORrIhL1Y or send the word join via Whatsapp to +263778798072 (Whatsapp us by clicking the link https://wa.me/263778798072).