The Chinese influence on the African continent is increasingly evident as it plays a pivotal role in the region's modernization and economic development. Since the initiation of its modernization efforts in 1978, China has transformed its economy into a major global force, investing over US$200 billion in Africa. This investment has significantly enhanced economic development through various infrastructure projects, contributing to the continent's growth. In 2023, bilateral trade between China and Africa reached an impressive US$282.1 billion, solidifying China's position as Africa's largest trading partner for the past 15 years.
In a significant move to strengthen trade ties, several African banks are establishing branches in China. Access Bank UK opened a branch in Hong Kong in October 2024, while Absa Group has set up a non-banking subsidiary in Beijing. Other banks, including Standard Bank and Bank of Africa, are also expanding their presence in China. This expansion is part of a broader strategy by Beijing to promote yuan-based transactions, aiming to reduce reliance on the US dollar in international trade. Experts suggest that these initiatives enhance economic sovereignty for African banks, allowing them to lower transaction costs and facilitate trade more effectively [72079252].
The recent establishment of 33 Luban workshops across 29 countries, aimed at vocational training, further exemplifies China's commitment to strengthening ties with the Global South. These workshops have trained over 22,000 individuals and produced more than 10,000 graduates, enhancing skills across various sectors. The Ethiopian Luban Workshop, for instance, has become a recognized center for high-quality skills training in Africa, with an enrollment of 300 students in Addis Ababa. This initiative aligns with China's broader strategy to promote economic development and improve its diplomatic image in the region, as emphasized by officials like Zhao Zhiqun, who noted the critical role of vocational education in economic growth.
Moreover, the China-Namibia partnership is set to enhance renewable energy and digital connectivity, showcasing China's focus on sustainable development. At the Forum on China-Africa Cooperation (FOCAC) summit in September 2024, President Xi Jinping announced a substantial financial support package of 360 billion yuan (approximately $49.5 billion) for Africa, further solidifying economic ties. The African Continental Free Trade Area is expected to improve trade relations with Chinese investors, promoting a globalization model based on fair participation. Political leaders from various African nations have expressed confidence in China's reform measures, believing they will yield significant benefits for the continent. Lu Kang, vice-minister of the International Department of the CPC Central Committee, highlighted China's eagerness to share governance experiences with African nations, while Obert Mpofu, secretary-general of Zimbabwe's ruling ZANU PF party, praised China's rapid development through its reform policies.
In Kenya, the Chinese business community has reaffirmed its commitment to the country's economic development. Liu Chenghui, chairman of the Kenya China Economic and Trade Association (KCETA), reported that over 60,000 Kenyans were employed by Chinese firms in 2022-23. Zhou Zhencheng emphasized the role of Chinese enterprises in the Belt and Road Initiative and Kenya’s Vision 2030, while Mohamed Daghar highlighted improvements in transportation and hydrocarbon handling due to Chinese infrastructure projects. Jane Makori called for increased Chinese private sector investment in Kenya, which aligns with China's broader strategy of fostering economic growth through infrastructure, job creation, cultural exchanges, and environmental protection [52024c22].
As China continues to lift over 850 million people out of poverty, its modernization efforts may provide valuable lessons for African countries striving for similar outcomes. The transformative potential of China's reform agenda, discussed during the recent seminar on China Modernization and African Development in Anhui, suggests that increased opportunities for regional trade and collaboration could lead to improved economic stability and development across Africa. With a GDP of Yuan 4.7 trillion and a population of 63 million in Anhui, China's economic success serves as a model for African nations looking to enhance their own development strategies.