The governments of newly-elected leaders in Africa are likely to invest billions of dollars in energy and infrastructure development projects in a bid to alleviate the poor living conditions of their respective citizenry.
A total of twelve African countries have held or are to hold elections this year, with Nigeria, Zambia, Lesotho, Sudan, Ethiopia, Sudan and Burundi already having elected their leaders.
Tanzania, Cote D’Ivoire, the Central African Republic (CAR), Guinea and Burkina Faso are also slated to hold elections later this year, and Chinese organisers of 4th Annual Africa Infrastructure and Power Forum from October 15 to 16, 2015 in Beijing are upbeat about the prospects of investments in energy and infrastructure development.
‘This year Africa will have witnessed 19 elections, and the formation of many new governments. Many of these administrations will seek to improve living conditions through access to electricity, and subsequently, added employment opportunities,’ a release states.
Already in Nigeria, Africa’s largest conglomerate – Dangote – signed a $4.34 billion deal with China’s Sinoma, while in June Tanzania awarded a consortium of Chinese railway companies projects valued at US$9 billion.
‘This important meeting once again partners with the China Africa Development Fund, who will be seeking new projects to receive some of the $5billion under their management,’ the release adds.
Currently, China is the biggest financier of energy and infrastructure projects in Africa and by 2009 the Far East country had disbursed 45.7% of its cumulative foreign aid of $256.29 billion to Africa.
