Here Are 10 Million-Dollar Projects In Africa Funded By China
China is Africa's biggest and strongest ally and in recent years has pumped millions of dollars into the continent.
- China is Africa's biggest and strongest ally and in recent years has pumped millions of dollars into the continent.
- 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.
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.
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 Sh327bn ($3.8bn).
In Ethiopia, China has funded two railways projects; Addis Ababa Light Rail Transit and Ethiopia-Djibouti Railway.
Lobito-Luau Railway in Angola and Abuja-Kaduna Railway in Nigeria were also funded by China.
2. AU Headquarters
The $200 million African Union headquarters located in in Addis Ababa, Ethiopia was fully funded and built by China.
3. 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 $31.6 million.
4. Ghana's Bauxite Exploration
In 2017, Ghana agreed to a $10 billion bauxite exploration deal with the government of China aimed at further exploiting the West African country's vast solid mineral deposits.
5. Angola's Caculo Cabaca 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 $4.5 billion and is set to produce 2,172 megawatts of electricity. The project will take about seven years to be completed.
A similar project is ongoing at the Kaleta hydroelectric facility in Guinea, worth $526 million, with China funding 75 per cent of the project.
6. 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.
7. Nigeria's Edo State Oil refinery
Nigeria and China signed a deal to build an oil refinery in Edo State at a cost of $2 billion.
8. 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 $500 million and will be completed in two phases.
9. Egypt's new city
Shanghai-listed developer China Fortune Land Development is set to invest up to $20 billion to build an upmarket residential district, an industrial zone, schools, a university and recreational centers in a new city in Egypt.
10. 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 $145 million.