China becomes Africa’s biggest investor
(VOVWORLD) - China poured more than 72 billion USD of foreign direct investment (FDI) into Africa during the 2014-2018 period, making it the biggest FDI investor in Africa.
 Chinese President Xi Jinping with African leaders in Beijing on September 3, 2018 during a group photo session at the Forum on China-Africa Cooperation (Photo: AP) |
Chinese investors not only have their sights on infrastructure, telecommunication, and finance but also want to exploit the potential of retail, media, hotels, and tourism, which are expected to grow robustly in the near future. It is estimated that Africa’s population will double to 1.3 billion by 2050.