SA and China Agreements: Africa Investment To Boost Development, Citizens Quiz Corporation

• SA and China entered another agreement as the Asian giants pledged a sizeable economic investment
• The corporation will inject into strategic economic sectors, among them automotive and agriculture
• Vocal onlookers, more than welcoming the development, raised questions about the future implications

JOHANNESBURG — China's investment in Africa has been lauded since the Asian country pledged $50 billion over the next three years.

And so, too, has the bilateral agreement between the global economic powerhouse and continental highflyer South Africa.

SA and China trade agreements welcomed

President Cyril Ramaphosa embarked on a state visit to China on 2 September.

The fruitful undertaking birthed a bilateral agreement to which his counterpart, President Xi Jinping, was a signatory.

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The corporation agreements will benefit industrial growth within strategic sectors, such as automotive, technology, and agriculture.

In an exclusive interview with University of South Africa (UNISA) international law emeritus professor André Thomashausen, CityPress reported that Chinese training and education would immensely benefit the continent as the two countries worked towards a high-quality China-South Africa community.

Since then, the Higher Education Ministry has confirmed that it will send over 100 South African students to adopt advanced skills.

Thomashausen said SA's exports to China will also be ramped up.

"The new joint funding agreements will stimulate Chinese manufacturing locally. Chinese electric vehicles (EVs) [the country already boasts Beijing, BAIC and FAW manufacturing plants] will be assembled in SA."

He said this would be for the local and overseas markets.

During Ramaphosa's state visit, SA welcomed China's role as a leader on the international stage and acknowledged that China's various global initiatives aimed to improve global peace and security, promote socio-economic development, and contribute to global governance reform.

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Scepticism comes to light

Keen onlookers on social media had polarising views of the announcement. Briefly News looks at the reactions.

@iSeekTruth007 wrote:

"Economic aid often comes with strings attached. Africa must prioritize self-sufficiency and avoid falling into the traps of debt and dependency. True development happens on our own terms."

@ChimhamhaZw said:

"What's the catch? US 50 billion donation or loan? What do they want in return? We don't want Africa's grandchildren burdened with debt, please."

@TonyeBarcanista added:

"Africans have to realize that only Africans can develop Africa. China is not different from the West, they are only bit less evil. Africa should come of age and stop being spoofed!"

SA 4th most investor-friendly destination

In related news, Briefly News reported that the 'Where to invest in Africa' report released in August showed SA's gross domestic product (GDP) grew lean.

As a result, the country dropped to fourth in the rankings of the most desirable African nations to do business after dropping to second behind Egypt in 2023.

Source: Briefly News