10 massive projects China is financed on the African Continent

China is investing heavily into Africa and is now funding some of the biggest projects throughout the continent. China after the 2018 China-Africa Forum for Cooperation (FOCAC) has pledged $60 billion for the development of Africa and advance China-Africa cooperation.

The investments and the building of mega projects in Africa is part of China’s “One Belt One Road” initiative.  The initiative includes the building of key infrastructure like telecommunication, roads, railways and bridges, sea ports, power stations and skills development.

In terms of railway projects China is heavily invested the African countries of Kenya, Ethiopia, Angola, Djibouti, and Nigeria. The biggest railway investment by China is in Kenya for the Mombasa-Nairobi Standard Gauge Railway costing over $4 billion.

The second mega project China has already funded is the African Union headquarters in Addis Ababa, Ethiopia costing over $200 Million. Another African headquarters China has built is the Economic Community of West African States (ECOWAS) Headquarters in Abuja, Nigeria at a cost of $31.6 million.

China has also invested $10 Million in Ghana to explore there solid mineral deposits. China is building two Hydro power plants one Angola for $4 Billion another in Guinea for $270 Million. The sixth project is the economic zone planned to be built in the Republic of Congo.

Nigeria will also be receiving a $2 Billion oil refinery, while Zambia is building a cement factory for over $500 million funded and Egypt is building a city worth $21 Billion.

The tenth projects that China is invested in is the Zimbabwean parliament.

Source: businessinsider.co.za

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