Joe Tym
The largest infrastructure projects in Africa were built by Chinese contractors, who had to compete with Western firms for nearly ten years. The South China Morning Post newspaper in Hong Kong reported on this.
The journal reported that, on average, eight out of ten building projects on the African continent were completed in the 1990s by Western firms.
The Hinrich Foundation claims that while their market share in building infrastructure projects in Africa has increasingly decreased, they still made up roughly 37% of the market in 2013, compared to 12% for China. However, following the launch of China's One Belt, One Road program in 2013, PRC-based businesses quickly reclaimed "the lion's share of the market."
According to the article, 31% of contracts for $50 million or more in infrastructure projects in Africa were awarded to Chinese contractors in 2022. Western corporations' stake fell to 12% at the same period.
source: scmp.com
The journal reported that, on average, eight out of ten building projects on the African continent were completed in the 1990s by Western firms.
The Hinrich Foundation claims that while their market share in building infrastructure projects in Africa has increasingly decreased, they still made up roughly 37% of the market in 2013, compared to 12% for China. However, following the launch of China's One Belt, One Road program in 2013, PRC-based businesses quickly reclaimed "the lion's share of the market."
According to the article, 31% of contracts for $50 million or more in infrastructure projects in Africa were awarded to Chinese contractors in 2022. Western corporations' stake fell to 12% at the same period.
source: scmp.com
