Experts: China's genuine friendship with Africa gives it an edge

Among all the global players trying to get a role in the investment in Africa, China is unique in supporting the continent's long-term growth, and China has been investing in Africa as a partner of African countries, said Sim Tshabalala, CEO of Standard Bank Group.

"There are similarities in culture and style between Africa and China. As a result of that, China comes to Africa not with the view of a perpetrator of the previous status quo, but with the view of partnering with African countries," said Tshabalala. "If you look at the commitments made by the Chinese leadership, they clearly demonstrate a clear pledge and willingness to prosper Africa on a long-term basis."

He said this at a media round table themed "Realizing the Economic Potential of China-Africa Cooperation". On Tuesday, or just before the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC)opened, Tshabalala and the majority of the bank's executive group all participated in the round table, sharing their ideas about China-Africa cooperation with domestic journalists.

"Besides carrying out business and doing things that make business sense, China has been more importantly also supporting the growth of African countries," Tshabalala said.

Deputy CEO of the Standard Bank Group Kenny Fihla said that as a financial institution they eye the economic potential of both China and Africa and their cooperation. "We've seen a lot of investment as well as business activity by Chinese clients in Angola, in Zambia, in the TRC, in South Africa, in Mozambique, in Namibia, in Zimbabwe," he said, "it's a wide range of sectors, which is also helping to drive the industrialization and the economic development of the African continent."

The head of the business and commercial bank of the Standard Bank Group, Andrew Robertson, also spoke highly of the forums on trade, saying they were willing to regularly participate in "important forums to help educate Chinese investors on opportunities for Africa-China economic trade".

Robertson also said they have been trying to connect "both African businesses wanting to trade in China and Chinese businesses wanting to trade in Africa". "We do this through matchmaking events and trade expos such as Chine International Import Expo that we've attended for the last six years, China-Africa Economic and Trade Expo as well as the Canton Trade Fair we participated recently," he said, hoping that the CACF will bring more opportunities to both sides.