Archive for January, 2011
China-Africa trade set to keep on booming in 2011
The Asian giant is hungry for resources to fuel its expanding economy – and many African nations are determined to feed it in order to trade their way to prosperity.
The boom in Sino-African trade has caused concern in some circles – but 2011 is expected to see business between the two hit record levels.
It is probably the biggest factor we have most noticed on our travels around the continent for Africa Business Report.
Ethiopia is a good place to see the impact of Chinese investment.
The capital Addis Ababa is a crowded, busy place – not surprising when you consider that Ethiopia is the second most highly populated country in Africa, home to an estimated 88 million people.
The city is alive with construction – everywhere you go you will come across building sites and cranes. And much of that construction is being done by the Chinese.
Big potential
Despite the fact that Ethiopia is still a poor country, it is seen as having huge potential, which is why there is such strong investment coming in from China.
The Chinese are also in the farming sector in Ethiopia – still a poor and largely rural country
The new headquarters of the African Union – a prestige project – is being built by the Chinese – as are roads, bridges and other major projects around the country.
Source: BBC
