CAPE TOWN – With the rapid increase in Chinese investments in Africa, the 22nd century may just see the dawn of the African century. China’s investment in Africa can ultimately create an acceleration in infrastructure as well as African culture. Investment is at the core of Africa’s needs however, Africa receives less Foreign Direct Investment (FDI) than any other region.
Amid a salvo of gun salutes, the People's Republic of China celebrated on Tuesday its 70th birthday with a grand military parade and a 100,000-people mass pageantry, manifesting to the world its full confidence as a socialist country to achieve modernization the Chinese way.
In just several decades, China has done what took developed countries several hundred years to complete. The Chinese people, once mocked as "the sick man of East Asia" and tortured by aggression and turmoil more than a century ago, now see their motherland rising with dignity and ever-growing clout on the global arena.
According to China Investment Global Tracker, between 2005 to 2018, Chinese investments and contrasts within Sub-Saharan Africa reached $299 billion. Investments in Africa have therefore resulted in Chinese President, Xi Jinping vowing to further invest a total of $60 billion into other Africa countries. With further investments taking place, it makes it possible for Africa to ascend into a global power if the continent can successfully navigate issues that are raised by Chinese neo-colonial ambitions.
The most recent white paper on China-Africa Trade and Economic Cooperation stated that between the years 2009 and 2012, China’s direct investment in Africa grew by 20.5%. annually.