CHINA NAVIGATING AFRICA’S ENERGY MARKETS
Written by Millennium on August 23, 2019
BUUMBA CHIMBULU writes
THE African Energy Chamber is currently assisting several Chinese companies in navigating Africa’s energy markets while enhancing cooperation support.
The Chamber has since planned a working visit to Beijing next week to support growing energy cooperation and investment between China and Africa.
Last year, Chinese President, Xi Jinping, pledged an additional $60 billion for African development over the next three years during the Forum on China-Africa Cooperation.
Led by Executive Chairman, Nj Ayuk, the delegation from the Chamber will be meeting with CEOs and Chairmen from China’s state-owned energy companies and the private sector, along with key industry associations in China.
The visit aims at further introducing the Chamber to the Chinese market following a series of roadshows organised in China by the Chamber over the past two years and increasing demand for investment information on Africa by Chinese investors.
Commenting on this development, Chamber Director of Strategy, Mickael Vogel, said the investment appetite of Chinese companies for Africa was growing stronger given current international trade and business dynamics.
“We are receiving an increasing number of requests from Chinese companies to join the Chamber, especially to gain access to the latest investment opportunities in Africa, and to credible and reliable information on African energy markets.
“Our visit will be consolidating several relationships we have developed over the past two years and will lead to discussion on major energy deals for Africa,” Mr Vogel said.
Traditionally, a large majority of Chinese investments have been made in energy and transport, especially oil and gas, power, mining, railways and airport infrastructure.