China looks to deepen ties in Africa as it hosts African Energy Chamber delegation
China is looking to add to its investments in Africa, building on the $60 billion recently pledged
To support growing energy cooperation and investment between China and Africa, Beijing is set to play host to the African Energy Chamber.
CEOs and Chairmen from China’s state-owned energy companies and the private sector, along with key industry associations in China, will meet with African Energy Chamber Executive Chairman Nj Ayuk and his delegation. The visit aims at further introducing the Chamber to the Chinese market following a series of roadshows organised in China by the Chamber over the past two years and increasing demand for investment information on Africa by Chinese investors.
“The investment appetite of Chinese companies for Africa is only getting stronger given current international trade and business dynamics,” said Mickael Vogel, Director of Strategy at the Chamber. “We are receiving an increasing number of requests from Chinese companies to join the Chamber, especially to gain access to the latest investment opportunities in Africa, and to credible and reliable information on African energy markets. Our visit will be consolidating several relationships we have developed over the past two years and will lead to discussion on major energy deals for Africa.”
Last year, Chinese President Xi Jinping pledged an additional $60 billion for African development over the next three years during the Forum on China-Africa Cooperation. Traditionally, a large majority of Chinese investments have been made in energy and transport, especially oil and gas, power, mining, railways and airport infrastructure.
As Chinese investment into Africa increases, the Chamber is assisting several Chinese companies in navigating Africa’s fast growing energy markets. The move is part of the Chamber’s support to a large and expanding base of investors seeking to do business in Africa, mostly from China, Russia, India the Middle East and Turkey.