It is time for Chinese investors to go to Africa, a growing market where they can get promising profits, a senior official from Zambia said Saturday.
Newly emerging economic powers of Asia such as China should consider Africa as a profitable investment destination, or they would feel regretted if they do not seize the opportunity, said Felix Mutati, minister of Commerce, Trade and Industry of Zambia, at the International Investment Forum held in the coastal city of Xiamen, southeast China’s Fujian Province.
Many African countries, sharing characteristics of an emerging market, are becoming more democratic and open, while trying to improve their administrative frameworks, the minister said.
Africa needs massive infrastructural projects, particularly roads, power plants, airports, and new mines to meet the demand of industrial development over the past decades, he explained.
“We would like Chinese people to build up factories in Zambia instead of simply selling commodities, so that we can develop ourselves,” said Geoffrey Mwamba, executive chairman of G.B.M Group of Companies from Zambia, who came to China to seek business partners on shipping and cement production.
“There are some Chinese investors in Mozambique, but we want more to help us develop industries like agriculture, fishing, mining, construction, manufacturing, transportation and tourism,” said Martinho Assane Muatxiwa, director of Tourism of Inhambane Province of Mozambique.
Promising that Africa boasts highly rewarding opportunities due to massive demand for ordinary consumer goods and bit-ticket items like houses and cars, Mutati encouraged Chinese and other world-class prospective investors to explore numerous opportunities which remain untapped in Africa to realize mutual economic benefits.
Direct investment by Chinese firms in Africa surged to 480 million U.S. dollars in the first half of this year, and the overall investment from China totaled 11.7 billion U.S. dollars by the end of 2006, official statistics show.
Chinese government has launched fund of 1 billion U.S. dollars to finance trade and investment by Chinese companies in Africa, in a fresh effort to facilitate Sino-African business relations.
Investment from China to Africa is expected to reach 2 billion U.S. dollars in 2007, according to Donald Kaberuka, president of the African Development Bank.
The forum was held on the sideline of the 11th China International Fair for Investment and Trade, an annual event held in this coastal city.
Ya, thats the trend whether we like it or NOT. with an invesment of USD 2 Billion in just one yr, China is the biggest single country investor Africa has ever seen yet. Lets hope Africa benefits more
Ambia 3: South Africa Zero, Katongo scores a hatrick
wow 3 0 in just 30 min
3-1 now, zambia is holding..
Final 3-1 Zambia (Chris Katongo hat-trick)(Benni MacCarthy). Congrats! However we should be taking care of business much sooner in the qualifiers, this business of barely making it doesn’t last nowadays. Bring in pros for the early games against the like of Sudan, Djibouti etc…, bag it in and let the locals play the last games for exposure!
Well done Chipolopolo!
Thats why Iam Zambian Mutati is talking of investment we are talking soccer I love it. Boys our lord has answered our prayers. We have canned SA in their bedroom to auto qualify to CAN2008,
Katongo hat-trick hands Nations Cup berth to Zambia
By Mark Gleeson
CAPE TOWN, Sept 9 (Reuters) – A hat-trick inside the opening 20 minutes from captain Chris Katongo steered Zambia to a 3-1 win over South Africa on Sunday and a place at next year’s African Nations Cup finals.
Zambia snatched top place in Group 11 from their hosts on a better head-to-head record, leaving South Africa to await the outcome of the other qualifiers before being assured a berth as one of the best runners-up at the tournament in Ghana.
Katongo took advantage of defensive lapses to stun the crowd at Cape Town’s Newlands stadium.
He intercepted a poor square ball across the South African back four to open the scoring in the ninth minute.
Another errant pass 10 minutes later allowed Isaac Chansa to race away with the ball and square for Katongo to apply a finishing touch.
He completed his hat-trick 10 minutes later, heading home a cross from Jacob Mulenga.
South Africa pulled a goal back five minutes into the second half through Blackburn Rovers striker Benni McCarthy, making his return the side for the first time in 18 months.
It was a record-equalling 29th goal for his country for McCarthy, who headed home a cross from Surprise Moriri.
Delron Buckley hit the post 60 seconds later but South Africa were unable to create any more real chances.
Weldone chipolopolo boys, keep it up. You have us proud.
good result. good deals at zamdeals.tripod.com.
What a sweet revenge, remember 1996.
Congratulations BA ZAMBIA.You`ve made us proud for nailing BAFANA on their home turf.Viva Patrick Phiri and who says that we need an foreign coach.VIVA patriotic lads VIVA ZAMBIA.Ba Zaambiaaaa nalelo twawina CHIPOLOPOLO ati ba Zambia eyeeeeeee!!!!!
There is dead silence amongst the SA. They really cannot believe it. All the boys did extremely well. At least for the first time in a long time I noticed composure, maturity and confidence in the Zambian team. We were also physically better than BB. Mweene in goal was superb, the boys at the back, hey what can I say, were all fantastic. In the midfield, Isaac, Andrew and Bakala were excellent. Upfront Katongo and Jacob tormented BB. Mbesuma had a decent game as he was tightly marked. All in all, hats off tot our boys for a splendid performance. Some of our boys deserve playing for big teams in Europe. Many SA players are in so called big teams because of the colour of their skin and/or connections. I guess all the pessimists have been made to eat a humble pie.
Guys do we really need an expatriate coach. He will just bring instability in the team. Viva Zambia
Am so happy the lads have ably honorned our late beloved brother- CHASWE NSOMFWA. MHSRIP
Hello,
I’m a young Zambian male studying in Guangzhou, China. I would like to meet other Zambians in Guangzhou to socialise with. I would appreciate if someone can tell me if they know any Zambians in Guangzhou. I speak fluent Chinese so if anyone needs an interpreter (Chinese to English or English to Chinese), I’m available for business.
Thanks.
By the way, Well Done Chipolopolo boyz
#16, Zambian in Guangzhou, China, This is not a meeting corner. We have a topic above to discuss. You are even a right person to shade some light on the low wages that the Chinese subject you to when you work for them during your holidays. Do you think they are good investors to come to Zambia?
what Geoffrey mwamba spoke made more sense than what the minister said, why can’t he the minister instead?
Maybe as Africans we are used to an investor being a white man.Anything different is dodgy.Guys, china is fastest growing economy in the world.They want resources we want the infrastructure.Lets open our arms for them, then nail them to build infrastructure, not selling them old mines, let them buy new mining licenses, let open factories, etc.We just need a mechanism to control labor, equity, etc.And lets not be desperate at the same time.For the boys in whiet on sunday .. congratulations.You put pie on my face as I did not even expect a draw.I live in SA, and its quiet down here.
Not to sound unpatriotic but making irrelevent comments about football scores when we are supposed to be talking about investment in Africa and how it will affect us,only goes to show how unfocused we are.These are serious issues that deserve to be treated seriously by serious people and not clowns!
As for Miyoba,he should know that there is no colour to investment,only good or bad investment.Opening your arms carelessy and aimlessy to the wrong people can make you vulnerable to exploitation.There is investment and there is debasemant.
Refering to this chap in Guanzhou who claims to speak fluent Chinese,he should be told that this not the forum for such appeals,If you want to meet Zambians come home!You didn’t go abroad to meet Zambians!Lets hope you don’t end up selling drugs and probably die in Chinese prison.
Take note.
I need investors from china for palm oil products.
I have 20 acres of land of which i intend to plant palm trees. (Palm tree plantation)for petrolium products.
I could get more land if need be. Please get in touch asap
I leave in UK
To the dude who said cum home 2 meet zambianz.iwe are u stupid.u probably are.the guy went abroad 2 make a beta lyf 4 himself.ati cum home?with which money the one u sold ur pubic hairz 2 get.mr man get a brain ata