ITRealms:
A latest study on Africa-China economic partnership has
thrown up a set of challenges of the general beliefs, reports ITRealms.
The new study released by McKinsey
Africa finds that its involvement is bigger and more multifaceted than
previous studies suggest.
ITRealms reports that though China is Africa’s largest
economic partner, it has been a challenge to understand the full extent of the
partnership due to a dearth of data.
According to the study conducted across eight countries,
together made up about two-thirds of Sub-Saharan Africa’s Gross Domestic
Product (GDP), stressing that there are already over 10,000 Chinese firms
operating in Africa; four times the previous estimate.
“About 90 per cent of these are private firms, of all sizes
and operating in diverse sectors, with about a third in manufacturing. These
firms are bringing capital investment,
management know-how and entrepreneurial
energy to the continent, and in so doing, are helping to accelerate the progress
of Africa’s economies,” part of the summary stated.
Ayo Midele/GEE
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