New move in Cooperation between China and Africa

Chinese President Xi Jinping has started a visit program to Zimbabwe and South Africa from December 1 to 5 at the invitation of his Zimbabwean and South African fellow Presidents. He will also chair the summit of the Forum on China-Africa Cooperation in Johannesburg. According to Zhang Ming, one of China’s vice foreign minister, “This trip by President Xi Jinping will be the most important, comprehensive and valuable visit in recent years.

This will be President Xi’s second visit on the African soil, after visiting Tanzania, South Africa and Congo Brazzaville shortly after taking office at the presidency.

China has become a major development partner of Africa as its trade, investment and aid ties with the region have increased remarkably in recent years. According to uk.businessinsider.com/statistics-on-chinas-investment-abroad-2015-2, “Chinese investments in Africa are in the tens-of-billions of dollars, and cover everything from real estate to minerals to financial services.”  China’s increased trade and investment in Africa has boosted the continent’s growth rate. These facts are supported by a report published by the American Enterprise Institute and Heritage Foundation which reveals that between 2006 and 2014, China invested more than 150.4 billion dollars in Sub-Saharan Africa.

Ovamba just like China has understood the potential and resource of the African continent. Since many sectors are under exploited because of lack of resources and capital, Ovamba has made its top priority to bring global investors to boost its economy, technology, productivity and competitiveness.

Sources: uk.businessinsider.com/statistics-on-chinas-investment-abroad-2015-2

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