Tuesday, 6 August 2013

India and China compete for business in Africa

India and China scramble for business in Africa

With demand for resources to fuel both their growing economies rising, the contest between the two giants is playing out in different parts of the world.
The campus of Nairobi University is one such place.
In a corner here, workers from the China Wu Yi company are working to build a futuristic 21-storey tower, complete with lecture halls, for up to 3,000 students and a helipad.
"Once it is finished in two years, this building will be the tallest structure around," says Prof Sa Dequan, head of the university's Chinese language and cultural teaching centre.
China Wu Yi was helped by the Chinese government to gain access to Kenya, but now it is handling 18 projects here.
Not long ago, it completed a section of the eight-lane, 50km Thika Superhighway, described as Kenya's pride.
India's $65bn (£44bn) of trade with Africa is dwarfed by China's $200bn.
Chinese companies are active across the continent with big infrastructure projects, including ports, railways and sports stadiums.
By contrast, Indian initiatives are led by individual companies looking to expand in sectors such as telecoms, agriculture, the automotive industry and education.
Nairobi-based analyst Anil Bhandari says the African pie is too big for anyone to fret about.
"Most African countries are growing at 7% to 9%. Players like India, China, Brazil, European countries have a role to play."
Source:  BBC

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