Africa is land of investor opportunity, diplomat says

African countries are improving their business environment and providing favorable policies to attract Chinese investment, an African diplomat said on Thursday.

Charles Kayonga, Rwanda's Ambassador to China, made the remarks during his address to the 2018 China-Africa Business Forum.

The event, in Beijing, was hosted by the African Diplomatic Corps in China and the Public Diplomacy and Cultural Exchange Center. The event also celebrated the 55th anniversary of the Africa Union.

The number of young people in Africa will grow to 830 million by 2050, which means that the continent will have stronger productivity, but it still lacks sufficient employment opportunities, the ambassador said.

Africa has varied conditions and huge potential for growth with skilled, trained and educated youth and stability, he said, adding that many countries see their investment climate as improving.

Africa is ready to receive Chinese investments with favorable support policies, he said.

Mothusi Palari, Ambassador of Botswana to China, said that the stable situation, the educated and skilled workforce and favorable tax policies are what make the country a good destination for Chinese investment.

One major advantage of China has in Africa is the historical friendship between the two,he said.

What Africa needs from China is investment and technology transfers to help the continent become more independent, not only politically but also economically, he added.

China's investments in Africa assist the region's diversification of economies, he said, adding that China has the advantages, potential and opportunities to invest in different sectors and use its capacity to benefit both Africa and itself.

The value of bilateral trade between China and Africa reached $170 billion last year, according to China Customs.