Southern Africa a gold-mine for Chinese investors
- By Abduel Elinaza
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E-mail China.org.cn, September 1, 2014
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Chinese President Xi Jinping (L front) holds a welcome ceremony for Zimbabwean President Robert Mugabe before their talks in Beijing, China, Aug. 25, 2014. [Xinhua/Ding Lin] |
The Southern African bloc is sitting on a gold mine.
The bloc, under Southern African Development Community (SADC), is predicted to become one of the world's most dynamic spot within five years.
This follows the recent discovery of natural gas and oil among the member states of the bloc—led by Mozambique, Tanzania and DR Congo—among other natural resources.
Also the bloc focuses on increasing industrial sector output to supplement natural resources revenues, at the same time avoiding a Dutch-disease.
The sector envisages releasing excess labor from agriculture to manufacturing thus tackling unemployment issues and building middle income societies among the bloc.
On other hand, SADC is the most peaceful and stable bloc in Africa, according to 2014 Global Peace Index. This is in contrast with Community of West African States (ECOWAS), East African Community, Common Market for Eastern and Southern Africa (COMESA), and Maghreb countries in north Africa.
SADC, a 15-member states bloc, is also the only community, in the continent, that is connected by infrastructures—roads, railways, airports and deep seaports.
Another SADC strength is populous with close to 250 million people, which make up a quarter of African population, a good number for traders and manufacturers.
The bloc was established a decade and half ago with the goal of further socio-economic cooperation and integration as well as political and security cooperation.
Comparing U.S. and China, the latter's influence on the region is increasing and analysts have it that China poises to be the biggest single investor in SADC.
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