- China has set up a R900 billion fund for investment into in Africa
- Ten large infrastructure projects are in the works thanks to the fund
During the 2019 China-Africa Forum for Cooperation summit in Beijing, China announced it has set up a R900 billion fund for investment into development in Africa. The following projects are beneficiaries of this fund:
Railway projects
Railways are a big investment sector for China, tying into the Belt and Road Initiative.
Five countries are building railways with the help of Chinese investment. Kenya’s R57.2 billion Mombasa-Nairobi Standard Gauge Railway, its largest infrastructure project since independence, is being paid for by China. In Ethiopia, the Addis Ababa Light Rail Transit and Ethiopia-Djibouti Railway are being funded by China. China funded the Lobito-Luau Railway in Angola the Abuja-Kaduna Railway in Nigeria.
African Union headquarters
China footed the bill for the R3 billion African Union headquarters in Addis Ababa, Ethiopia.
Ecowas headquarters
The Economic Community of West African States signed a deal with China in March 2018 to build its headquarters in Abuja for a price tag of R475.7 million.
Ghana’s bauxite exploration
Ghana and China came to an agreement in 2017 for a R150 million bauxite exploration deal.
Angola’s Caculo Cabaca hydropower plant
China is funding the Caculo Cabaca hydropower plant in Dondo, Angola for R67.7 billion. The plant is expected to produce 2 172 megawatts of electricity
China also funded the Kaleta hydroelectric facility in Guinea, worth R3.8 billion. Construction is ongoing.
Congo’s SEZ
China has pledged to invest in the Special Economic Zone of Congo, set to be built in Pointe Noire.
Nigeria’s Edo state oil refinery
An oil refinery at a cost of R30.1 billion is on the cards for Edo state of Nigeria. A deal was signed with China to cover the investment.
Zambia’s cement factory
President Lungu of Zambia launched the China National Building Material in 2018, a two phase project to build a cement factory for about R7.5 billion.
Egypt’s new city
A new city in Egypt consisting of an upmarket residential area, an industrial zone, schools, a university and recreational centres is set to be developed by Shanghai-listed company China Fortune Land Development for R301.1 billion.
Zimbabwe’s parliament
China donated a new parliament building to Zimbabwe at an expected cost of R2.1 billion, to be built in Mount Hampden, roughly 17km from the capital of Harare.
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