What are the economic benefits of the Chinese presence in Africa? After the big announcements of the 7th Summit of the China-Africa Cooperation Forum (FOCAC, 3-4 September) Stake experts asked the question, focusing in particular on the (official) incomes of Chinese companies from infrastructure projects in each country of the continent.
Whether it is the Abuja-Kaduna railway line in Nigeria (200 km, and nearly $ 1 billion investment), the Tanzanian port of Bagamoyo under construction for an estimated cost of $ 11 billion, or the construction of the Great Mosque of Algiers (which should be the 3rd largest in the world) for $ 5 billion, China’s “great works” on the continent represent – at least in the speech of the leaders – the best expression of the common economic interest between the two geographies. McKinsey’s “Dance of the lions and dragons” report (June 2017) estimates the number of Chinese companies on the continent at 10,000, and they would control nearly 50% of infrastructure projects.
The 5 countries with the largest Chinese investment portfolios in infrastructure are Algeria, Ethiopia, Kenya, Angola, and Nigeria. In 2016, they alone accounted for 49% of China’s investment in infrastructure on the continent.