Reports have emerged at the round-table of Chinese and African leaders at the conclusion of the Johannesburg Summit of the Forum on China-Africa Cooperation (FOCAC) on the commitment of the President of China, Mr Xi Jinping of $60 billion to the development of the African continent.
During a meeting with Dlamini-Zuma, President Xi said China attaches great importance to its relations with the African Union and supports the organization’s significant role in Africa’s development, integration as well as in regional and global affairs.
President Xi also used the event to pay tribute to President Jacob Zuma and South Africa for organizing the epoch making event which brought together Chinese senior government officials and most African heads of state in one place for moving the continent forward.
He further added that, “China strongly believes Africa belongs to the African people and African problems should be handled by the African people”, he said.
President Xi said the cooperation will be based on equality and mutual trust and that his country’s stance that Africa should manage its own affairs and that China was ready to assist the continent in safeguarding peace and security.
This phase of the relationship, which President Xi described as a “new era”, should carry forward the traditional strengths of their relationship to make China and Africa a driving force to be reckoned with.
“Figures indicate that Africa needs US$ 93 billion to upgrade its infrastructure and China’s help has come at a right time”, he added.
President Xi Jinping said the package would include zero-interest loans as well as scholarships and training for thousands of Africans.