Chinese President Xi Jinping has committed to creating “at least” one million jobs in Africa as part of Beijing’s effort to become the preferred development partner for the Global South.
During the Forum on China-Africa Cooperation on Thursday, Xi announced that China will provide $51 billion in new financing to African nations. This funding will include loans and various forms of assistance, as well as support for 30 infrastructure projects aimed at enhancing connectivity across the continent.
Xi Jinping highlighted the successful collaboration between China and Africa in building roads, railways, schools, hospitals, industrial parks, and special economic zones, noting how these projects have positively impacted many lives. He emphasized that continued partnership could lead to even greater achievements and aid in the “modernization” of the Global South.
These remarks come as Beijing seeks to bolster its influence in Africa amid growing economic and diplomatic tensions with Western countries, including the United States. This push for closer ties with Africa coincides with China’s economic slowdown, which is being challenged by a prolonged property crisis and a declining population.
China remains Africa’s largest trade partner, with nearly a quarter of the continent’s exports—primarily minerals, fuels, and metals—going to China. Additionally, China is Africa’s largest lender, having committed $191 billion in loans between 2006 and 2021.
Leading up to the three-day summit, African leaders announced multiple agreements in areas such as infrastructure, agriculture, mining, and energy. Notably, Kenyan President William Ruto revealed plans to expand the railway between Nairobi and Mombasa and to develop a new highway in western Kenya.
