Thu, 04 May 2017 18:48 - Updated Thu, 04 May 2017 18:48
China becomes major contributor to investment in Africa
Luanda - The Chinese investment in Africa has dramatically increased, making the Asian country the largest contributor to foreign direct investment (FDI) capital and jobs in Africa in 2016, according to the latest Africa Attractiveness report, released by Ernst & Young (EY).
Send by email
To share this news by email, fill out the information below and click Send
To report errors in the texts of articles published, fill out the information below and click Send
Asian giant has participated in the building of infrastrutures on the continent
Photo: Francisco Miudo
Since 2005, China has invested in 293 FDI projects in Africa with a total investment of US $ 66.4 billion, creating 130,750 jobs, according to the report.
China's FDI in Africa is well diversified across sectors, covering resource-oriented as well as service and manufacturing sectors, the report said.
Data released by EY, a London-based professional services company, also show the diversification of Chinese investment in more countries, covering resource-rich nations such as South Africa, Nigeria and Angola, and agricultural exporters such as Kenya.
In 2016, the number of jobs created by Chinese FDI projects hit a record high, more than doubling the number in 2015 and more than three times the number of jobs created by the second largest investor, the United States, according to the report.
In 2016, China's exports to Africa reached $ 82.9 billion, while Chinese imports from the mainland were $ 54.3 billion.
- 04/05/2017 09:53:10
Luanda - The Monitored products price index (IPPV) recorded a variation bellow 0.46 per cent between 24 and 28 April, this year, against the 1.16 per cent recorded between 17 and 21 April.
- 03/05/2017 08:45:36
Lubango - The Moçâmedes Railway Company (CFM) two months ago bought five locomotives abroad, namely from the General Electric firm, and the CFM is currently waiting, at any time this year, for the arrival of 20 more locomotives acquired from the same firm.
- 02/05/2017 18:46:26
Lubango - The railway route between the cities of Lubango and Namibe is the most profitable of the Moçâmedes Railway (CFM), despite having a weekly frequency, unlike the ten between Huila capital city and Menongue, at southern Cuando Cubango, said the financial administrator of the railway company, António Conceição.