Poverty Reduction in Africa:China To Assist Through Industrialisation
Chinese investors have called on Africans to upgrade infrastructure and improve business climate for more future Chinese investments.
China has pledged to support infrastructure development, shipment of production machines and machines in the housing sector, and drive investment in construction materials and agriculture products. Wang Yong, Vice President of the China-Africa Development Fund Investment Cooperation in Africa (CADFund), made the disclosure recently during the two-day Forum on China-Africa Local Government Cooperation in the Chinese capital Beijing.
The forum which was in its third edition harped on ways to alleviate poverty through job creation and employment. It was attended by a 15-man strong delegation from Cameroon comprising a Director in the Ministry of Decentralisation and Local Development, the General Manager of FEICOM, Philippe Camille Akoa, the Government Delegate to the Yaounde City Council, Tsimi Evouna, and a representative of the Douala City Council, as well as business associations and private individuals covering the sectors of livestock, agriculture, building construction and traditional medicine. The delegation was out to seek partnerships in IT, water, among others and to learn the Chinese experience in decentralisation and local development.
Municipal and city council representatives, NGOs, and business people, who took part in the forum from China and various African countries sought ways in which to gather resources, tap talents and set up platforms for cooperation, as well as to put the China-Africa joint projects for Belt and Road Initiative construction into practice so as to bring tangible benefits to the common people.
A Chinese pharmaceutical company revealed its plan to set up branches in southern and western African countries, in order to sell antiretroviral drugs at affordable prices as contribution to the health of the people. Wang Zhibang, Chairman of Anhui Biochem United Pharmaceutical Company Ltd, said the project will contribute to providing jobs to locals.
The Chinese smartphones and software manufacturer in Ethiopia, Transsion Holdings Ltd, alone employs 2000 locals. Its Chairman pointed out how some Africans want to start their own smartphones and software production and after sale services in Africa but, like other companies, are faced with the challenge of electricity and road network.