China’s Expanding Footprint in African Infrastructure Market, Says Report
China’s expanding presence in the African infrastructure market signifies a transformative change in the continent’s development landscape. As Chinese companies continue to spearhead major projects and establish themselves as reliable partners, Africa stands to benefit from increased investment, improved connectivity, and enhanced economic growth.
New Parliament of Zimbabwe
In a recent report published by the Chinese newspaper South China Morning Post, China’s remarkable expansion in the African infrastructure market has been highlighted. The report sheds light on China’s strategic approach and its growing dominance in the sector, which has reshaped the landscape of Africa’s infrastructure development.
During the 1990s, Western companies predominantly held Africa’s infrastructure contracts. However, China’s “exit” strategy, encouraging its companies to explore foreign markets and resources, has brought about a significant shift in the dynamics. By 2013, Western-run projects accounted for 37% of African infrastructure, while China’s share stood at 12%. Today, Chinese companies manage a substantial 31% of infrastructure contracts, compared to Western companies’ 12%.
China’s influential “Belt and Road” initiative has played a vital role in facilitating major infrastructure projects in Africa. Investments totaling $155 billion over the span of two years have allowed China to construct critical infrastructure such as ports, railways, and dams across the continent. This rapid growth in Chinese involvement can be largely attributed to China’s non-interference policy in political affairs, positioning it as a reliable partner compared to the US and Europe.
Moreover, China’s significance in Africa extends beyond infrastructure development. The country’s pursuit of minerals and oil resources has positioned it as a significant player across various industries. By securing access to these valuable resources, China has solidified its presence in Africa and reinforced its economic influence.
China’s expanding presence in the African infrastructure market signifies a transformative change in the continent’s development landscape. As Chinese companies continue to spearhead major projects and establish themselves as reliable partners, Africa stands to benefit from increased investment, improved connectivity, and enhanced economic growth.
