CAMAL’s Managing Director Mr Walter Ruigu (left) during an interview with CGTN
China has continued to make strides in investment and this time, they have their eyes set on Africa. It seems Africa has some potential which has caught the attention of this economic giant . China continues to invest in various sectors in Africa. With globalization and technology advancement, investment has been taken a notch higher with China eyeing African market for its produce. There has been a rise in business trips from Africa to China as more states want to understand China’s technology in production and how they can adapt the same technology back in Africa.
CAMAL’s Managing Director Mr Walter Ruigu appeared on CGTN to shed some light on why China has decided to venture in Africa. It is true Africa has resources which has everyone thinking it’s the main reason why China has been on the forefront pushing to invest more in Africa. China just like other countries in the world is on a market search for its output. The domestic market in china is saturated. African countries are potential markets for China’s various commodities. For example, construction companies in Africa are highly dependent on China for the Procurement of machinery and other construction materials. We also have firms getting raw materials from China to facilitate production which will later contribute to the increase of GDP after the end product is traded.
CAMAL’s Management Team in China (from left) Managing Director Mr Walter Ruigu, Senior Project Manager Mr David Kyalo and Head Of Operations Mr Razack Magagi
China has 3 main interests in Africa.
1.) The first one is to support the international community. China can and has continued to offer technological support to multilateral agencies to help them make countries better. A good example is the United Nations Environment Programme. China has advanced technology on how countries should conserve the environment and recycle the waste products to create continuous utility. Being one of the most populated countries in the world, China has tried to come up with various ways of conserving the environment. The technology used has been passed to other countries across the world. CAMAL continues to contribute positively by arranging successful trips to China where clients get to visit and acquire necessary knowledge which they later transfer to their countries .
2.) Quest for new markets is also another interest. These markets are created by the ever growing demands which need to be fulfilled. At this point, firms like CAMAL have come in handy to help consumers and organisations understand China market more. Many African consumers are using CAMAL to procure from China. CAMAL can put it on record that those companies, individuals and organisation who have procured equipment, machinery or any construction materials from china, have been able to boost their productivity/output and increased profitability in the long-run.
Africa’s Heads of State during the FOCAC2018 in Beijing China
3.) it’s true that Africa has resources which China needs. This should be considered as strength and not a weakness. Countries like South Africa have greatly benefited because China has invested so much in their economy thanks to the resources they have. Many countries in Africa have untapped potential because they have not found the market internationally for what they produce yet China can be a target market. Again CAMAL has come in to boost African countries Trade with China by helping organisations export the raw material China needs. Firms in Africa who are doing trade with China continue to benefit from these relations.
CAMAL’S MD Walter Ruigu(left) and Project Manager David Kyalo during FOCAC2018 in Beijing
CAMAL would recommend all African countries to focus more on producing final products from the resources they have. This will add value and contribute towards financial independence. The final products will also get demand from other international markets not only China. it should challenge all African countries to strive towards economic growth which will bring financial independence to the continent.
You can watch the full interview as CAMAL’s Managing Director Mr Walter Ruigu brings more understanding on Why China is investing more in Africa and how African firms can benefit by clicking here