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China has been Africa’s largest trading partner for the past 15 years. In 2023, Africa exported USD 170 billion worth of goods to the Asian giant.
Young African entrepreneurs working in China personify the growing economic cooperation between China and Africa. As a result of this partnership, several young Africans of different nationalities have started doing business with China.
The African youth, while working closely with Chinese experts, learned many lessons on entrepreneurship. For instance, a youth from Mali, who worked in the Hunan province, founded the Mali Business Center in 2024 to mentor both Chinese and Malian businesses. The centre now personifies the growing relationship between China and Africa, and is a role model for how economic cooperation between the two regions can be fostered.
China has been Africa’s largest trading partner for the past 15 years. In 2023, Africa exported USD 170 billion worth of goods to the Asian giant.
China has also implemented favourable regulations to attract international business hopefuls, including specific entrepreneurship visas, called startup visas. That enables the African budding entrepreneurs to register their companies in China. Many African students who studied in various universities in China have set up their enterprises, which aim at fostering economic cooperation between their home country and China. According to reports, some of them are working well.
Africa has everything China needs, and China has everything Africa needs”, said Aboubacar Garba Konte, head of the Mali Project Incubator at the China-Africa Youth Innovation and Entrepreneurship base. He added, “In Africa, we have a huge deficit in terms of electricity, so we have been able to sign two strategic contracts now. One is in solar, the second is in agricultural drones. So, we, by these two projects, want to push forward the engagement of Chinese and African youths together to collaborate in knowledge sharing, in technology sharing”, he added.
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Chinese and African representatives celebrated this bilateral cooperation during the fourth China-Africa Economic and Trade Expo last week. www.trendsnafrica.com has been reporting on the major highlights of this event concluded recently in China. Importantly, during the event, China announced that it would remove tariffs on African imports to boost trade. Chinese President Xi Jinping also pledged USD 50 billion to Africa over the next three years.
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