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Chinese Investments Are Taking the Lead in Africa

Chinese Investments Are Taking the Lead in Africa

Business and political leaders are meeting this week in the South African city of Cape Town to seek ways to boost American investment in Africa. But summit delegates have heard that it is often China, and not America, that is taking the lead. For VOA, Terry FitzPatrick reports.

The Chinese are latecomers to Africa, but in recent years they have tripled their African investments to a total of nearly $12 billion. Princeton Lyman of the Council on Foreign Relations says 800 Chinese companies are operating in Africa.


Chinese Investments Are Taking the Lead in Africa

SA not doing enough to lure foreign funds

South Africans are buying property abroad, but not many foreigners are investing here. South Africa is missing out on investments because of high interest rates, legislation and crime perceptions. A recent global survey of 15 markets conducted by DTZ JP Morgan Asset Management found South Africa only attracted 0.2 percent of global invested stock worth 10-billion (R67-billion).

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