China Invests in Africa

More than 3,000 Chinese enterprises are investing in Africa, noted Chinese Ambassador to Ghana Sun Baohong at the recent China-Africa Relations conference. Sun stated how China has built railways and roads in Africa that surpass 7,000km in length and has helped Africa finance some 1,000 projects involving schools, hospitals and sports infrastructure, among other things. As of June 2017, China’s financing of the Mombasa-Nairobi Railway was officially confirmed. Estimates show this railway will reduce the cost of freight in East Africa by nearly 80%, decrease the cost of business by 40% and cut transit time by 50%.