Browsing: Chinese investments in Africa

China waived debt for 17 African countries to argue against western bullying

According to the database maintained by the China Africa Research Initiative (CARI), between 2000 and 2020, Chinese financiers and African governments signed more than 1,180 loan commitments totalling US$160 billion.

Of these, two-thirds were for transport, power, and mining projects. To put it in dollar terms, the countries that have borrowed the most from China are Angola, Zambia, Ethiopia, Kenya, and Cameroon.

Yi committed to continuing Chinese investment in Africa, including financial backing for a “Great Green Wall” to combat climate change, the provision of food aid to seventeen nations, and increased Chinese imports from Africa.…

Chinese investments in Egypt

Trade exchange between Egypt and China recorded $5.2 billion during the first seven months of 2020, according to Nevine Gamea,  Egypt’s Minister of Trade and Industry.

According to Nevine Gamea, by the end of 2018, the total Chinese investments in Egypt amounted to $7.2 billion, distributed over 1736 projects.

In a statement, Gamea said that China is ranked 20th in the list of the largest countries investing in the Egyptian market adding that in the world, China is Egypt’s most important trading partner.

The Egyptian minister also emphasized the ministry’s keenness to enhance cooperation with the Chinese government in the field of small and micro enterprises (SMEs) to benefit from China’s long experience in this field, especially since small enterprises represent a large segment of the Chinese economy.

China’s General Administration of Customs said earlier that the volume of trade exchange between Egypt and China hit $4.31 billion from January …

The 2020 G20 summit will be held in Riyadh in November. China is expected to make a pronouncement on its debt cancellation for African countries at this summit.

Africa and China have had an interesting relationship in the last decade with the Asian giant enthusing that the relationship with the world’s second-largest continent is based on mutual partnership and understanding. …

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China tops investments in Uganda

China registered the highest amount of planned Foreign Direct Investments (FDI) in Uganda in 2018/19 according to reports.

In its latest report, the Uganda Investment Authority (UIA) a state agency charged with investment promotion showed china’s planned investments totalled $607.3m, accounting for 45.1% of all the planned investments.

“Things have changed, you see that China which used not to be mentioned among the top investors in Uganda ten years ago is now number one foreign investor,” said Lawrence Byensi, acting executive director of UIA.
Byensi further said that the Chinese investments are mostly in road and manufacturing projects.

The report further showed Ugandan investors as the second source of FDI in Uganda during the 2018/19 period with a total value of $328.7 million.
Lebanon followed with planned investments of $70.6 million followed by India at $58 million and the United Arab Emirates at $55 million dollars.

The sectors that attracted …