For a long time, the narrative has been that China is investing massively in Africa. But as it turns out, it is not a one-way traffic. Africans are also investing in China.
Africans are reported to have invested a cumulative $14.2 billion in China by the year 2012, a 43 per cent increase from the amount invested in 2009 – that was $9.9 billion.
According to Africa Renewal, an information programme produced by the Africa Section of the United Nations Department of Public Information, in 2012 alone, the amount of direct investments from Africa to China was about $1.4 billion, mostly in petro-chemical, manufacturing, wholesale and retailing industries.
Citing a White Paper on Economic and Trade Cooperation between China and Africa published by the Chinese government, it states that some of the top African investors in China came from Mauritius, South Africa, Seychelles and Nigeria.
South African brewery, SABMiller produces Snow beer – the world’s best-selling beer by sales volume, and it produces and sells only in China.
SABMiller, the report says, runs Snow beer as a joint venture with a Chinese firm and produces many other popular Chinese beer brands as well.
Africa Renewal also quotes media reports indicating that the estimated population of African immigrants in China is 200,000.
“In the first nine months of 2014, Guangzhou, a southern Chinese city hosting the largest African community in Asia, documented 430,000 arrivals and departures at its check points by nationals from African countries,” it says.
Source: Ghana Business News
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