April 23, 2024

Private Sector Is Increasingly Driving Chinese Investments in Africa, Veteran Banker Says

Private companies are increasingly driving Chinese investments in Africa, drawn by the continent’s abundant natural resources and growth opportunities in various sectors, Cheryl Buss, head of the international operations of a pan-African banking group, told Caixin in a recent interview.

“In the past, we’ve seen — as per the Chinese strategy and the Belt and Road Initiative — a lot of growth (in investment) and development (in Africa) was around (Chinese) state-owned entities,” said Buss, CEO of Absa International. “They led the charge, and they were largely supported by the Chinese government.”

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