{"id":6079,"date":"2015-09-11T08:14:24","date_gmt":"2015-09-11T08:14:24","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=6079"},"modified":"2015-09-11T08:14:24","modified_gmt":"2015-09-11T08:14:24","slug":"nigeria-snubbed-as-china-hosts-africa-on-investment","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=6079","title":{"rendered":"Nigeria Snubbed As China Hosts Africa On Investment"},"content":{"rendered":"

Energy Ministers From Eight African Countries Gather In China Without Nigeria To Canvass For A Share Of The $5billion Available For Investment In Continent\u2019s Energy Sector<\/p>\n

Nigeria, listed as an investment destination for China, is missing on the roll as the Chinese government hosts eight African nations to a high powered investment opportunities forum which begins in Beijing on October 15.<\/p>\n

The two-day investment drive will focus on opportunities in the energy sector of Africa\u2019s economy. Listed to address the forum and present investment opportunities in the energy sector of their countries are energy ministers from Kenya, Democratic Republic of Congo, Zambia, Sierra Leone, Rwanda, Namibia, Uganda and South Africa.<\/p>\n

Chairman of the Board of ICBC Standard Bank PLC, Mingqiang Bi and Deputy General Manager, Special Financing Department, ICBC Bank, Madam Shen Min are expected to provide insights into investment financing for
\nAfrican nations.<\/p>\n

A statement made available to The UNION on the forum said \u201cthere will be 11+ project presentations featuring major opportunities, including: The East to West Landbridge \u2013 LAPSSET Corridor; East African Standard Gauge Railways; Dry port development in Ghana; Unbundling of state utilities in Liberia and; Gas-to Power investment opportunities in Mozambique and South Africa.<\/p>\n

The forum, which is in its fourth year, is tagged The 4th Annual Africa Infrastructure and Power Forum and \u201cpartners with the China Africa Development Fund, who will be seeking new projects to receive some of the $5billion under their management\u201d.<\/p>\n

Energy industry experts link Nigeria\u2019s absence at the investment forum on the absence of an Energy Minister for the country. President Muhammadu Buhari, who has been unable to form a cabinet since inauguration on May 29, had promised to do so before the month runs out.<\/p>\n

The statement notes that 2015 marks a turning point for African investment with the need to address the continent\u2019s energy deficit, and the critical requirement to connect those living without access to electricity. According to the statement, 13 percent of world\u2019s population live without electricity, majority, in Africa.<\/p>\n

The statement notes that \u201cDespite the headwinds caused by lower oil and commodity prices, and weakening currencies across sub-Saharan Africa, progress continues to be made. \u201cNigeria witnessed the most notable investment deal in recent weeks, with Africa\u2019s largest privately held business \u2013Dangote- signing a $4.34 billion deal with China\u2019s Sinoma, an indication of Nigeria\u2019s infrastructural ambition.<\/p>\n

\u201cIn the same period, another of the world\u2019s fastestgrowing economies, Kenya, has earmarked $55.6 billion for infrastructure development. Kenya\u2019s road network urgently needs improvement \u2013 essential for trade and tourism, indispensable lines of inward investment.<\/p>\n

\u201cGlobal investors demand for African opportunities were displayed this month when one of the world\u2019s largest private-equity funds \u2013 The Abraaj Group \u2013 announced it had raised $1.4 billion, indicating the dawn of billion-dollar African private-equity funds searching for greater returns than offered by alternative, saturated markets.<\/p>\n

Of 119 African investor deals, there has only been one default in the past decade\u201d. It also said that of all interested parties looking to invest in Africa this year, China remains the only nation that has consistently sought to improve infrastructure and power development on the continent.<\/p>\n

The growth of China-Africa trade is revolutionizing African development, stimulating crucial upgrades of the continent\u2019s infrastructure and power development \u2013 highlighted in June when Tanzania awarded a consortium of Chinese railway companies projects valued at $9billion.<\/p>\n

Union<\/p>\n

\"PIC.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Energy Ministers From Eight African Countries Gather In China Without Nigeria To Canvass For A Share Of The $5billion Available For Investment In Continent\u2019s Energy Sector Nigeria, listed as an investment destination for China, is missing on the roll as the Chinese government hosts eight African nations to a high powered investment opportunities forum which […]<\/p>\n","protected":false},"author":2,"featured_media":5766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[739,738,740],"class_list":["post-6079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-china-africa-development-fund","tag-icbc-bank","tag-mingqiang-bi"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2015\/08\/President-Buhari.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-1A3","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/6079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6079"}],"version-history":[{"count":1,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/6079\/revisions"}],"predecessor-version":[{"id":6080,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/6079\/revisions\/6080"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/5766"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6079"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}