Chinese Private Sector Engagement in Africa is Going to be Much More Important in 2021 And Beyond

Over the past several weeks, Chinese officials have convened a series of high profile forums with key African stakeholders in what appears to be an effort to lay the groundwork for next year’s triennial Forum on China Africa Cooperation Summit (FOCAC) that is scheduled to take place in Dakar, Senegal.

Greater participation by Chinese private companies and some State-Owned Enterprises is expected to be a key theme at the upcoming FOCAC — partially in response to the current financial crisis where African access to large amounts of Chinese development finance remains an open question.

This is a particularly important issue in infrastructure development given Africa’s enormous deficit in building sufficient power, transportation and telecommunications networks. So, it’ll be interesting to keep an eye on developments in Nairobi, where a groundbreaking public-private-partnership (PPP) between the Kenyan government and the China Road and Bridge Corporation is underway to build a 27km, $600 million expressway.

Similar PPP deals are also underway in Uganda, Mozambique, and Nigeria among other places.

What Analysts Are Saying About the Future of Chinese PPPs in Africa

  • PPPs ENCOURAGE MORE RESPONSIBLE LENDING: “For Chinese financiers, more joint financing partners will help in … lowering the lending risk. For the companies … [different forms of public-private partnerships] will make the companies more serious and responsible for their operations in Africa and other countries.” — Zhou Yuyuan, a senior fellow at the Centre for West Asian and African Studies at the Shanghai Institutes for International Studies
  • MORE CHINESE PPP INTEREST: “China itself has mixed experience domestically with PPPs, but Chinese stakeholders are becoming more interested in PPPs because developing countries are asking them to explore them.” — Hannah Ryder, CEO of Development Reimagined

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The post Chinese Private Sector Engagement in Africa is Going to be Much More Important in 2021 And Beyond appeared first on The China Africa Project.



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