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10 massive projects the Chinese are funding in Africa

China is Africa’s biggest and strongest ally and in recent years has pumped millions of dollars into the continent, funding one mega project after another.

At the close of the 2018 China-Africa Forum for Cooperation (FOCAC) summit held in Beijing, the world’s second biggest economy announced that it had set up a new $60 billion kitty meant for Africa’s development as part of a raft of new measures to strengthen Sino-Africa ties.

The fund, which is broken down into several parts, will be channelled to projects aligned to the Chinese government’s Belt and Road Initiative covering telecommunications, construction of roads, bridges and sea ports, energy, and human capacity development.

Considering that, here are ten million-dollar projects in Africa which are standing today and others are in the pipeline thanks to Chinese money.

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  1. Railways projects

At least five African countries have had their railway systems funded by China: Kenya, Ethiopia, Angola,  Djibouti,  and Nigeria.

Kenya’s largest infrastructure project since independence, Mombasa-Nairobi Standard Gauge Railway, was funded by China at an estimated cost of R57.2 billion.

In Ethiopia, China has funded two railways projects; Addis Ababa Light Rail Transit and Ethiopia-Djibouti Railway.

  1. AU Headquarters

The Chinese-built and financed African Union Headquarters.The R3 billion African Union headquarters located in Addis Ababa, Ethiopia was fully funded and built by China.

 

  1. ECOWAS Headquarters

In March 2018, West African regional bloc ECOWAS signed a deal with China to build their headquarters at Abuja at a cost of R475.7 million ($31.6 million).

 

  1. Ghana’s Bauxite Exploration

In 2017, Ghana agreed to a R150 million bauxite exploration deal with the government of China aimed at further exploiting the West African country’s vast solid mineral deposits.

  1. Angola’s Caculo Cubaca Hydropower plant

In 2017, Angola signed a deal with China for the construction of the Caculo Cabaca Hydropower project in Dondo, Angola.

The project is worth R67.7 billion and is set to produce 2,172 megawatts of electricity. The project will take about seven years to complete.

A similar project is ongoing at the Kaleta hydroelectric facility in Guinea, worth R3.8 billion, with China funding 75 per cent of the project.

 

  1. Congo’s Special Economic Zone

China will be investing in the Republic of Congo’s Special Economic Zone. The zone will be build in Pointe Noire in what China calls a “direct investment” and not a loan or gift.

 

  1. Nigeria’s Edo State Oil refinery

Nigeria and China signed a deal to build an oil refinery in Edo State at a cost of R30.1 billion.

 

  1. Zambia’s cement factory

China is responsible for a number of projects in Zambia including the China National Building Material which was recently launched by President Lungu. The project is worth R7.5 billion ($500 million) and will be completed in two phases.

 

  1. Egypt’s new city

Shanghai-listed developer China Fortune Land Development is set to invest up to R301.1 billion to build an upmarket residential district, an industrial zone, schools, a university and recreational centres in a new city in Egypt.

 

  1. Zimbabwe’s new parliament

Before President Robert Mugabe was ousted, China presented the former head of state with a million dollar gift: a new parliament.The new parliament building, a donation from the Chinese government, was expected to be built in Mount Hampden about 17 km from the capital, Harare, at an expected cost of R2.1 billion.

SOURCE: businessinsider.co.za

 

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