Business
China beats US, UK, others as largest investor in Africa, creates over 18,000 jobs
China has maintained its position as the largest investor in Africa over the last 10 years beating the United Kingdom, United States and other top European countries.
This is according to a new report by Swiss-African Business Circle released over the weekend.
The report also showed that during the 10-year period, the Asian country created 18,562 jobs on an average with a yearly increase.
The report noted that China had, on average in the last 10 years, 27% of its investments in Africa.
Read also: China mulls setting up military bases in four African countries –Report
It’s followed by the US as the second-largest investor, and France, and Turkey, in third and fourth positions, respectively.
The United Kingdom is the fifth largest investor in Africa, and it is quickly losing ground, as Japan and UAE have both given Africa more weight in terms of share of Africa in their global investments over the last 10 years.
Swiss-African Business noted that UAE has substantially and gradually increased its number of newly created jobs in Africa on an annual basis.
On the Swiss-African relationship the report said Switzerland ranked as the 12th biggest investor in terms of the number of newly created jobs in Africa as Swiss companies have, on average, created 30,407 new jobs over the last 10 years with an average of 458 new projects announced annually over the same period.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...