Browsing: FDI (foreign direct investment)

China's Race For African Resources and Global Dominance through the Belt & Road Initiative

China’s race for African minerals & global dominance

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  • China’s ambition is to eclipse the United States as the leading economy in the world
  • The Belt and Road Initiative is China’s idea to increase economic cooperation with countries along six economic corridors using resources which will be procured from Africa
  • Africa is not among the 6 corridors of the Belt & Road Initiative espoused by China but is the biggest if not the sole supplier of the basic resources necessary for the initiative to succeed
  • China has become a globally recognized military super power
  • China has the largest reserves of United States dollars of any country in the world.
  • Africa needs to become the 7th corridor of the Belt & Road Initiative
  • Africa’s resources and China’s nearly insatiable appetite for them present a golden opportunity for African countries to grow their economies and emerge out of poverty

China’s President Xi Jinping’s ambition is to make his country a superpower

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FDI in East Africa declined in 2019-report

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Foreign Direct Investments (FDIs) in East Africa declined by 9 per cent to $7.8 billion in 2019, from $9 billion in 2018 shows the latest World Investment Report 2020 by the United Nations Conference on Trade and Development (Unctad).

This year there could be a sharp decline in FDIs as the COVID-19 pandemic continues to affect economies across the globe.

In 2019, Uganda’s foreign direct investments increased by 20 per cent to $1.3 billion due to the continued development of oil fields and an international pipeline. Also projects in agriculture, construction and manufacturing contributed to the increased in FDI.

Also Read: Angola set to attract more FDI into oil and gas sector

In Tanzania, FDI inflows didn’t change they remained at $1.1 billion. In Kenya, despite several new projects in information technology and healthcare FDI inflows dropped by 18 per cent to $1.3 billion compared with $1.6 billion in 2018.…