East Africa received a combined sum of $2.96b in foreign direct investment (FDI) from China between 2011 and 2017, according to data from the China-Africa Research Initiative. The findings contained in data compiled by China-Africa Research Initiative, under the John Hopkins University, which tracks the country’s activities in Africa signals China’s increased interest in the East African region that continues to be a key recipient of the Asian country’s investments. The data, which was sourced from United Nations Conference on Trade and Development (UNCTAD), indicates that Kenya, which received $1.3b had the largest share of FDI from China followed by Tanzania, which received $890m between 2011 and 2017. Uganda, which has in the last five years become a key Chinese partner, received $536m, mainly in the energy, transport and communication sectors. However, Chinese companies with construction projects in Uganda have in the last 20 years seen rising earnings grossing about $8.7b (Shs32.6 trillion) in the last 20 years. Burundi received a total of $9.91m while South Sudan and Rwanda received $39m and 18m, respectively in the period under review. The $2.96b, according to the data, is a huge growth from the $307.76m, which the region received between 2004 and 2010. During the period, Kenya received $166.38m in FDI followed by Tanzania, which grossed $76.82m in the period. Rwanda received $38.22m, while Uganda and Burundi received $25.65m and $0.69m, respectively. South Sudan, which was then still part of Sudan, did not receive any FDI from China. East Africa has in the...
China’s FDI to EAC grows to $2.96b in seven years
Posted on: April 26, 2019
Posted on: April 26, 2019