Why global powers are increasingly accelerating their investments into the African continent, while China and Russia have already made significant gains in the region
and other global powers are increasingly accelerating their investments in the African continent, while China and Russia have already made significant gains in the region. such as gold, oil, cobalt and uranium, and home to 30 percent of the world’s remaining natural mineral resources, it is understandable why many African nations are constantly embroiled in violent power tussles.
However, after the Cold War, particularly in the last two decades, the interest of China in Africa has been restructured around pragmatism in terms of trade, energy and investment. Following the collapse of the Soviet Union, Russia withdrew from the region. But in the early 2000s, Russian President Vladimir Putin began to show "limited interest" in Africa. By 2014, when Russia faced a series of sanctions from the West, the country took several steps to increase its influence in the continent. Over the years, China has emerged as an indispensable economic force in Africa.
During this process, several loans were offered to African countries by their former colonial powers, the World Bank and IMF also offered loans, however they all came with high interest rates. China is predominantly buying crude oil, copper and iron from Africa. In other words, it is true that China is mainly interested in Africa’s natural resources. China has also been able to find a potential market for its cheap consumer products and is about to take control of the market.
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