On Monday, China welcomed leaders from across Africa, including President Bola Tinubu, in a bid to strengthen ties with the resource-rich continent to which it has provided billions in loans for infrastructure and development.
This week’s China-Africa forum is set to be Beijing’s largest diplomatic event since the Covid-19 pandemic, with over a dozen leaders and delegations expected.
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China has deployed hundreds of thousands of workers to Africa to develop its megaprojects while extracting the continent’s abundant natural resources, such as copper, gold, lithium, and rare earth minerals.
China’s extensive loans to Africa have funded numerous infrastructure projects but have also sparked controversy, as many countries face substantial debt burdens.
As the world’s second-largest economy, China remains Africa’s top trading partner, with bilateral trade reaching $167.8 billion in the first half of this year, according to Chinese state media.
Beijing has ramped up security across the city, adorning roads and bus stops with banners proclaiming that China and Africa are “joining hands for a brighter future.”
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Among the attendees is South African President Cyril Ramaphosa, who arrived early Monday for a four-day visit that will also include a trip to the southern tech hub of Shenzhen.
Trade between China and South Africa surged to $38.8 billion in 2023, according to the South African presidency.
Ramaphosa will participate in a welcoming ceremony at Beijing’s Great Hall of the People and lay a wreath “in honor of Chinese revolutionaries” at Tiananmen Square, his office stated.
The two nations will sign multiple agreements aimed at “enhancing economic cooperation and technical collaboration.”
On Monday, President Xi Jinping also met with Democratic Republic of the Congo President Felix Tshisekedi, state news agency Xinhua reported. China has a strong presence in the DRC, where it is keen on exploiting its vast natural resources, including copper, gold, lithium, and rare earth minerals.
However, China faces security challenges in the country; in July, a militia attack on a mining site in Ituri province resulted in the deaths of at least four Chinese nationals.
Leaders from Djibouti — where China established its first overseas military base — as well as Equatorial Guinea, Nigeria, Mali, and others, arrived in Beijing on Sunday and Monday.
Research from the Chinese Loans to Africa Database shows that Beijing’s loans to African nations last year were the highest in five years, with the top borrowers being Angola, Ethiopia, Egypt, Nigeria, and Kenya.
However, the total amount of loans has decreased significantly compared to 2016, when they reached nearly $30 billion.
Increasingly, these loans are being directed to local banks to reduce the credit risks faced by Chinese creditors.
Analysts note that China’s recent economic slowdown has made it more cautious about extending large loans.
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This week’s summit takes place amid growing geopolitical competition between the U.S. and China over resources and influence in Africa.
The U.S. has criticized what it perceives as China’s harmful influence on the continent, with the White House stating in 2022 that China aims to “advance its own narrow commercial and geopolitical interests” while “undermining transparency and openness.”
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