African Energy Chamber to Woo Chinese Investors
As part of efforts aimed at opening up the African energy market to different investment community aside from European and American investors that have dominated it for close to half a century, the African Energy Chambers is embarking on an investment tour of China with aim to support growing energy cooperation and investment between China and Africa. This visit observers noted is coming at a very auspicious time especially with the TICAD taking place in Tokyo Japan within the week. The visit led by Executive Chairman Nj Ayuk, the delegation from the Chamber will be meeting with CEOs and Chairmen from China’s state-owned energy companies and the private sector, along with key industry associations in China.
Aimed at further introducing African energy firms to the Chinese market following a series of roadshows organized in China by the Chamber over the past two years and increasing demand for investment information on Africa by Chinese investors. The need to make strong what has been achieved so far has become imperative says the organizers of the event. According to Mickael Vogel, the Chambers Director of Strategy, the investment appetite of Chinese companies for Africa is only getting stronger given current international trade and business dynamics. Mr Vogel further notes that African firms are receiving an increasing number of requests from Chinese companies to join the Chamber, especially to gain access to the latest investment opportunities in Africa, and to credible and reliable information on African energy markets. He added that this visit to China will be consolidating several relationships developed over the past two years and will lead to discussion on major energy deals for Africa.
It could be recalled that the Chinese President Xi Jinping last year pledged an additional $60bn for African development over the next three years during the Forum on China-Africa Cooperation. Traditionally, a large majority of Chinese investments have been made in energy and transport, especially oil & gas, power, mining, railways and airport infrastructure.
With the growing interest of Chinese investors in Africa, there is need for the Chamber and its members to rightly position themselves to reap from every available opening. To this end, the Chamber is assisting several Chinese companies in navigating Africa’s fast growing energy markets. The move is part of the Chamber’s support to a large and expanding base of investors seeking to do business in Africa, mostly from China, Russia, India the Middle East and Turkey.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.