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Africa needs China's positive investment, says Botswanian expert

(Xinhua)

15:53, October 08, 2012

GABORONE, Oct. 7 (Xinhua) -- China is an important source of investment and finance, and African countries need the positive investment to develop their natural resources and infrastructure, said a former deputy chief of Botswana's central bank.

In a recent interview with Xinhua, Keith Jefferis, former deputy governor of the Bank of Botswana and managing director of Econsult Botswana (Pty) Ltd, said it is quite normal for Chinese companies to seek chances of investment abroad as they grow together with the booming economy.

"I don't agree that China's investment in Africa is something to do with 'new colonialism' or 'pillage of natural resources.' It is more economic rather than political," Jefferis said.

It is a natural response of capital to the chances of market, he said.

Recent years saw rapidly growing economic activities between China and Africa, and statistics show trade volume between China and Africa stood at 166.3 billion U.S. dollars in 2011, up 83 percent from 2009.

And in 2011 China's direct investment in Africa jumped 60 percent to 14.7 billion dollars from 2009.

Jefferis said African countries need investment to improve their infrastructure and markets for their natural resources.


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