Chinese investment into Africa soars in 2016
China's investment into Africa continues to rise, with a significant increase so far in 2016 on last year's total, reports Simon Curtis.
According to greenfield investment monitor fDi Markets, China-sourced capital expenditure into Africa has experienced a dramatic increase in 2016 from 2015 figures, with five months of data to record and publish remaining. Additionally, the number of investment projects into Africa has increased year on year between January 2013 and July 2016.
Chinese capital investment into Africa up to July 2016 has increased by 515% from full-year 2015 figures. With more than $14bn invested in Africa by Chinese companies so far in 2016, investment levels have already surpassed every year of recorded data available for fDi Markets since 2003. The previous record for investment into Africa from China was in 2008, with just over $9bn invested in this year.
In addition, the number of investment projects into Africa from China is set to surpass any previous year since 2003, with 36 projects recorded from January to July 2016. With 38 projects for the whole of 2012, the number of projects recorded during 2016 is certain to reach a new high.
Despite a year-on-year decrease in capital expenditure invested in Africa from China between 2014 and 2015, the number of projects, jobs created and companies investing has increased each year into Africa between January 2013 and July 2016. During this period, the number of projects recorded has increased by 112%, the number of jobs created has increased by 413% and the number of companies investing has more than doubled by 108%.
The fDi Report 2016
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