Africa Policy Insitute

China’s investment in Africa is getting a shake-up as the next belt and road phase beckons

As revealed at the recent FOCAC summit, Beijing will shift its African focus towards agriculture, green energy

and critical minerals. China is revising its belt and road playbook in Africa, as it moves its investment focus to

agriculture, manufacturing, industrialisation and green energy, including critical metals. The shift is part of

Beijing’s pivot towards “small but beautiful” projects in its African investment strategy. But while this could see

fewer mega projects financed directly through Chinese bilateral lending, it does not mean Beijing will stop

bankrolling major projects that it considers critical to growing China-Africa trade. Nearly US$51 billion was

allocated by China for lending and investment in Africa at the 2024 Forum on China-Africa Cooperation

(FOCAC) summit held in Beijing earlier this month. More than half that amount – 210 billion yuan (US$29.5

billion) – is a credit line. South China Morning Post.