ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

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.

Tags Economy  

Read also
  • 31/01/2019 17:55:18

    Governor guarantees support for agricultural development

    Saurimo - The provincial governor of Lunda Sul, Daniel Félix Neto, assured Thursday in Saurimo, to support peasants with agricultural instruments and seeds, as part of the Government's strategy to combat hunger and poverty.

  • 31/01/2019 10:43:25

    Angola and Namibia study model of Baynes dam construction

    Malanje - Angola and Namibia on Wednesday discussed technical, economic and environmental requirements for the construction of the Baynes Binational hydroelectric dam in the border region of both countries.

  • 30/01/2019 11:42:40

    Biocom to increase sugar output

    Luanda - The Bio-energy company of Angola (BIOCOM) expects to increase its sugar production this year, from the prior 73,000 produced in 2018 to 100,000 tonnes in 2019, said the firm’s assistant manager, Luis Júnior.

  • 30/01/2019 09:01:30

    Sonangol exports over 92,200 metric tonnes of crude-oil in last quarter of 2018

    Luanda - The state-owned National Fuel Society (Sonangol) exported in the last quarter of last year 92,211 metric tonnes of crude-oil, which yielded a revenue of just over 39.5 million dollars, announced on Tuesday the company’s Executive Commission head for international trade, Luís Manuel.