Africa’s economic prospect seems better than the rest of the world, according to experts. This may be the reason why big powers ranging from China to Japan to Russia are attracted to Africa one way or the other. African leaders took part in Africa- focused conferences hosted by the big power countries over the years. It has become centre of economic gravity.
China, where it has a trade volume approaching more than $200 billion with Africa had organised several a conferences during the last few years. The recently held conference took place on June 2019, and where 53 African countries took part. The much expected Silk Road project passes through Africa making it an important economic partner in the Chinese grand plan.
Similarly, Japan called ‘The seventh Tokyo International Conference on African Development in Yokohama from 28 to 30 August 2019. It focused on the Economic co-operation with Africa and acquaintance with business community of the continent.
Russia is now preparing to host Russia- Africa Economic Forum to be held on October 23-24 in Sochi, where the enhancement and promotion of economic relations with Africa is expected to be the dominant agenda.
The question that begs an answer is that why are these big power countries interested in Africa? Africa is endowed with natural resources and plenty of work force but due to lack of leadership, high corruption and political instability, the continent remains poor and exploited by powerful countries.
The GCC countries, despite their geographic proximity and cultural ties to Africa, have made little headway in the business activity of the continent. Few GCC countries have invested in agriculture in some East African countries but not attempted to participate in other sectors including the growing mining business the continent is witnessing. GCC countries need to revise their investment priorities.
Absent from these economic drama are the Western rich European countries and the US. Their passive involvement will affect their future economy, say experts in the field. China seems to have outsmarted the US when it comes to influencing African people’s view. They associate the US with military engagements, drone attacks and fighting terrorism, and China with economic prosperity and development because China makes most of the infrastructures including schools, hospitals and bridges.
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