adminAfrican countries are sealing lucrative deals with China, whose development assistance approach shuns interference in domestic affairs and emphasises partnerships.
In Zambia, the Asian giant has signed numerous agreements that have contributed to meaningful development in that country.
Zhonghui Mining Group and the Zambian government recently signed a US$3,6 billion deal under which the Copperbelt will be exploited over five years. The initiative is expected to create at least 50 000 jobs. Zhonghui is also expected to invest in new mines, a hydro-power station and a water supply scheme in Luapula, northern Zambia.
In Ethopia, Chinese shoe manufacturer Huajian Company in January 2012 set up a factory with 600 employees near the capital city, Addis Ababa. The company has also committed to investing US$2 billion over the next decade, to establish a light manufacturing special economic zone, creating employment for around 100 000 Ethiopians.
Huajian, which employs 25 000 workers in its native China, expects to provide around 30 000 jobs in Addis Ababa alone by 2022.
China has also made investments in Malawi through construction of the University of Technology and a hotel.
Statistics show China has since 2009 been Africa’s largest bilateral trade partner.
Trade volume was valued at US$198,5 billion in 2012 and is expected to surpass US$380 billion by 2015.
Online Reporter