Speaking to Xinhua on the
sidelines of a conference on the quest for economic
transformation in Africa, the academicians hailed China’s
contribution to a new African renaissance.
Economists, policymakers and
researchers from a pan African think-tank attending the Nairobi
conference agreed that the continent has benefitted from China’s
will play a major role in the next phase of economic
transformation in Africa. Our partnership with the Asian giant
is more critical this decade as we chart a new path of
progress and prosperity,” the President of the African Center
for Economic Transformation (ACET), Kingsley Amoako said.
The world’s second largest
economy has intensified investments in Africa with trade
increasing from 10 billion U.S. dollars in 2000 to an estimated
200 billion dollars in 2013, four years after overtaking the
U.S. as the continent’s largest trading partner.
The pan African think-tanks in
their in-depth reports contend that China has largely
contributed to the continent’s economic growth through trade,
investments, infrastructural development and technology
demand for our commodities has fuelled current economic
growth. African countries must engage China to learn best
practices on diversification and export competitiveness,”
He added that Chinese capital and
technology is required to enable African countries develop their
The Acting Director General,
Kenya’s Vision 2030 Delivery Secretariat, Gituro Wainaina noted
that China has presented to Africa a viable model of economic
for now, China is busy supporting African economies in key
areas like energy, infrastructure and manufacturing sectors.
China has invested heavily in this continent and will
definitely contribute to our economic revival,” Wainaina said.
Kenya has engaged Chinese firms
to develop large scale infrastructure projects like roads, ports
and railways. Wainaina stressed that infrastructure upgrade will
promote regional trade, capital flows and job creation.
China Africa Consulting Limited
MD, Helen Hai noted that Africa’s nascent industrial sector has
potential for growth thanks to abundant supply of labour and raw
manufacturing and retail sectors in Africa are now vibrant and
Chinese companies intend to set base in the continent to
produce high quality goods for export,” said Hai.
She revealed that a Chinese
factory that opened shop in Ethiopia and Rwanda recently has
created thousands of jobs through production of leather shoes
private sector is keen to invest in Africa where young and
skilled labour is abundant. Africa is the next frontier for
labour intensive manufacturing,” Hai told Xinhua.
She noted that for Africa to
realize industrial revival, countries must prioritize
infrastructure development and skills upgrade.
of new roads, ports and railway lines will facilitate movement
of goods and services to boost Africa’s competitiveness.
African countries should understand their comparative
advantage and leverage on it to realize an industrial taking
off,” Hai said.
Chief Economist at the African
Center for Economic Transformation, Yaw Ansu stressed that the
symbiotic relationship between China and Africa herald growth
and prosperity in the continent.
has financial resources that can be invested in Africa. Its
huge population can offer a steady market for our goods. We
need to go further and request China to establish factories
here,” Ansu said.