Musings From Abroad

US Vice President, Kamala Harris vows increased investment in Africa. Should China worry?

Published

2 years ago

March 26, 2023

As part of development from her latest visit to Africa, the United States, Vice President Kamala Harris has announced that her country will increase investment in Africa and help spur economic growth.

Harris made the promise on Sunday that the United States as she aimed at offering a counter to the influence of rival China.

Harris said shortly after touching down in Ghana, the first destination in a trip that will include visits to Tanzania and Zambia that her visit was motivated by the US’s latest push to re-establish and deepen relations with Africa.

“On this trip, I intend to do work that is focused on increasing investments here on the continent and facilitating economic growth and opportunity,” Harris said.

In recent decades, China has invested heavily in Africa, including infrastructure and resource development, while Russian influence has increased as well, including the deployment of Wagner Group troops to assist governments in several countries.

The US is strengthening relations, in 2022 President Biden announced at US-Africa Business Forum, announced over $15 billion in two-way trade and investment commitments, deals, and partnerships that advance key priorities.

Uncle Sam later committed $55 billion over the next three years to Africa ahead of a U.S.-Africa summit in December. On a visit to Niger this month, Secretary of State Antony Blinken announced $150 million in new humanitarian aid for Africa’s Sahel region.

Related Topics:Africa Featured Kamala Harris US

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Musings From Abroad

Brazilian meatpacker JBS invests $2.5 billion in Nigeria, builds six facilities

Published

1 hour ago

November 22, 2024

Ifeoluwa Dada

Brazilian meatpacker JBS says it has inked a memorandum of understanding with the Nigerian government for a $2.5 billion investment plan that will include the construction of six new plants in the African nation.

Three of the plants would deal in poultry, two in beef, and one in pork, according to a statement from JBS.

In accordance with the memorandum of understanding, JBS stated that it would develop a five-year investment plan in Nigeria, which would include budget estimates, feasibility studies, and an action plan for the development of the local supply chain.

The Nigerian government would then guarantee the sanitary, regulatory, and economic conditions required for the project’s viability, JBS continued.

Musings From Abroad

China’s Xi meets with Morocco’s Crown Prince

Published

1 hour ago

November 22, 2024

Ifeoluwa Dada

Morocco’s official media reports that Chinese President, Xi Jinping, visited Morocco briefly on Thursday.

According to Morocco’s MAP, Crown Prince Moulay El Hassan welcomed Xi in Casablanca. The visit demonstrated the close ties of camaraderie, collaboration, and solidarity between the Moroccan and Chinese peoples, it said.

China’s official broadcaster, CCTV, said that Xi and Hassan had a “cordial conversation” at the airport after being received by the Crown Prince and Moroccan Prime Minister Aziz Akhannouch.

After attending the G20 Summit in Brazil, Xi paid the visit.

In recent years, China has increased its investments in Morocco’s rail and infrastructure. Morocco is desirable for Chinese electric car battery manufacturers because of its proximity to Europe, free trade agreements with important EU and US markets, and an established automotive sector.

Morocco was chosen by Chinese EV battery company Gotion High Tech in June to establish Africa’s first gigafactory, which will cost $1.3 billion in total.