Aliko Dangote, Africa’s richest man, while sharing his perspective on the impact of China’s presence in Africa on Moneyline with Nancy, says its not possible for Africa to succeed without Chinese Investments.
According to the African’s Richest man, China presence in Africa is a WIN WIN situation when it comes to deal with Chinese companies.
Dangote added that Chinese are coming to Africa for mineral resources for what they need, but starting up local domestic industries, Chinese people do not participate.
He added: “Chinese are very big in construction, they are very big in providing infrastructure, but bringing foreign investments, they are not as much as the Europeans.
Speaking about the complaints by most African business over Chinese competition, Dangote added: “The complain about foreign competition, maybe smuggling of textiles for example, because Nigeria does not have textiles, so, smuggling it in has killed most of our local textiles industries but participating in the ryal economy, i have not really seen chinese doing much there.
“Africa cannot succeed without relying on Chinese or foreign investments, No body can do that, what we need to do as Africans is to show that confident that yes it is possible and the foreign investors will follow suit.
“There is no where on earth the foreign investors will go and create an economy, or make that economy great. The local people must move first, then they will be supported by the foreign investors.” He added.