Xi to address Africa summit as Chinese investment slows

This should be done before we approach China as a friend of Africa.

Within the framework of the official business visit to South Africa, President Buhari has already met with Chinese president Xi Jinping and discussed mutually benefitial Nigerian-Chinese projects.

Chinese and African leaders hail move as win-win cooperation and Robert Mugabe says Xi Jinping is “God-sent”. The money will be used for Africa’s industrialization, agricultural programs, development of small and medium enterprises, poverty alleviation programs, education and health, among others.

Buhari in a statement by presidential spokesman Femi Adesina said the partnership includes the management of Nigeria’s resources with priority on accountability, transparency and result-orientation in governance.

“In looking to China for economic assistance and co-operation, we must look within Africa before we look beyond SADC because there is a lot we can learn from each other”.

To that end, Xi said, China stands ready to play a constructive role in promoting political settlement of Africa’s hot-spot issues, beef up cooperation with African countries on peace-keeping capability, and share its experience on reform, opening-up and economic boom with them. “China never colonised Africa or anyone”. Chinese Ambassador to South Africa, Tian Xuejun, was recently quoted in the media saying, the summit will further synergise China and Africa’s respective development strategies.

The Johannesburg summit is the second of its kind under the 15-year-old framework of the FOCAC, which groups China, 50 African countries that have established diplomatic ties with China, and the Commission of the African Union. China and Africa are moving forward in the same direction.

Xi said China’s aid would be directed at solving the three main bottlenecks which Africa faced – the lack of infrastructure, skilled workers and capital.

Malawi President Peter Mutharika has said his government remains focused and committed to all development pacts and arrangements it has with China as it is the best way of improving local livelihoods through development of infrastructure and strengthening of institutions.

China’s economic growth has recently taken a dip, triggering a global commodities slump and forcing Beijing to slash investment in Africa by more than 40 percent in the first six months of this year.

“China is actively implementing the “Initiative on China-Africa Cooperative Partnership for Peace and Security” and has provided military and financial assistance to the AU for peacekeeping missions in relevant countries and the building of the African Standby Force and the African Capacity for Immediate Response to Crisis”, he said.

China’s pledge “is not enough, but it’s a good start”, he said.