At a recent forum on China-Africa Cooperation (FOCAC) otherwise known as the Beijing Summit, bilateral talks were held with some notable African leaders with China Present at the forum were Chinese President, Xi Jinping, South African, President Cyril Ramaphosa, Egyptian President Abdel Fattah al-Sisie, Togo’s President Faure Gnassingbe and other African leaders.
As a matter of fact, many had assumed that Africa’s contribution to the global economy was through selling that which comes out of the ground. That was certainly what drew the Chinese to Africa back in the early 2000s. Today, that’s no longer the case.
READ MORE: Nestlé Partners Africa Food Prize On Food Security, Climate Change
It is strongly indicated by Chinese customs authorities’ that the latest oil buying figures show how powerful this trend is. Purchases are down 23% this year alone. China once imported a third of its oil from Africa. Now that figure is just 10% and declining as China claims it doesn’t need Africa’s minerals but its votes. And this is a matter of grave concern presently since the claims by China remain quite vague.
