China’s Pledge: Catalyzing Prosperity in Sierra Leone with Bold Investment Initiatives

by admin-anb

Chinese President Xi Jinping promised to encourage Chinese firms to invest in minerals-rich but economically ailing Sierra Leone as part of Beijing’s long-term drive to deepen economic and political ties with Africa.

China has always regarded cooperation with African countries as a cornerstone of its foreign policy, Xi told visiting Sierre Leone President Julius Maada Bio in Beijing on Wednesday.

Its relations with Sierra Leone are “a model of unity and cooperation” for other African states,” Xi said.

Bio, who is accompanied on his trip his finance and mining ministers, is hoping to attract more Chinese firms to the West African state and secure investment pledges to upgrade its poor infrastructure.

China’s engagement with African states is expected to take on a bigger focus in 2024 after the dismantling of stringent COVID-19 curbs and the re-opening its borders to the world.

Since the start of 2023, it has elevated diplomatic ties with Ethiopia, Zambia, Benin, the Democratic Republic of Congo and Gabon in a continent whose natural resources have long been a draw.

China is also keen to grow its geopolitical influence just as the United States seeks to deepen its ties with the continent.

Xi told Bio China will support Africa’s drive to industrialise and to modernise its agricultural sector.

Chinese firms have invested $6.4 billion in Sierra Leone since 2010, data from the American Enterprise Institute think tank shows, predominantly in metals.

In December, Sierra Leone signed a pact with China Road and Bridge Corporation to build an 8-km (5-mile) bridge crossing the river separating the capital Freetown from the country’s main airport at an estimated cost of $1.5 billion.

You may also like

About Us

Africa news bulletin is an online media firm providing credible and impartial news from the African continent and the rest of the world. We have a continental network of news portals and journalists reporting the recent events shaping African politics, business and lifestyle through African lenses.

Feature Posts

Newsletter

Subscribe to our Newsletter for latest news, tips & new photos. Let's stay updated!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?

Subscribe to our Newsletter

Subscribe to our Newsletter for latest news, tips & new photos. Let's stay updated!

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00