Concerned by safety of investments, China to hold first China-Africa security summit
London, June 28, 2019 (AltAfrica)-Concerned by rising cases of insecurity in some African countries where her multi-billion investments domicile, China will hold the first China-Africa peace and security forum to attempt long lasting solutions to the problem of insecurity on the continent
A spokes person for the Ministry of National Defense of China told a press conference on Thursday that the all important forum will hold from July 14 to 20
Officials with African countries’ defense departments, African military officers and those in charge of peace and security affairs at the African Union will be invited to attend the forum, according to Ren Guoqiang, spokesperson with the ministry.
Discussions at the forum will center on building a safe China-Africa community with a shared future, with topics including the security situation in Africa, major regional issues, and China-Africa cooperation in peace and security.
Africa is the third-largest destination for Chinese investment behind Asia and Europe
One-quarter of all Chinese investment is concentrated in Nigeria and Angola
Nigeria is one of China’s largest investment partners on the continent; five of the $60 billion pledged at the 2015 FOCAC summit were dedicated to Nigeria.
In recent years, Nigeria has received relatively large funds from China for railways. China is backing two major standard-gauge rail projects: One is a line from Lagos to Kano, the other is a coastal railway from Lagos to Calabar.
The Nigerian government hopes that the latter will support peacekeeping in the Niger Delta region, thus improving oil investments there (oil is another key interest of China in Africa).
Throughout the African continent, Chinese investment are largely concentrated in energy and transport
Aside Nigeria and Angola, China is also involved in building railways in Kenya, Ethiopia, and Zambia, among others. For instance, the Chinese Export-Import Bank provided 85 percent of the funding for the $475 million Addis Ababa Light Rail, which serves 4 million of the city’s residents.
The investments in energy—though mainly made up of oil and gas investments—also comprised investment in clean energy such as hydropower.
Worldwide, China is one of the leading investors in renewable energy. Last year, China invested $3 in renewable energy for every dollar the United States invested.