Foriegn Investments: China’s Economical Infulunce on African Acountries

Tanzania

credit: Wikipedia

The Sino-Tanzanian relationships date back to the Tanzania-Zambia Railway (Tazara) completed in 1976, the China-funded railway marked the start of the country’s infrastructural projects in the continent. It is also the third-largest infrastructural project the Asian country has completed in Africa – after the Volga and Aswan dams.

Nearly after one century, China has plans of investing USD11 billion in the new economic zone and mega port at Bagamoyo, the sleepy port town nearly 60 KM from Dar es Salaam. The country is widely known for 18th and 19th-century ruins, but it is likely to change after the launch of the port in the year 2020. Planners project that the new port will handle around 20 million containers each year, which is roughly 25 times the capacity of Dar es Salaam. It will also stand as the largest port on the continent.