China’s “One Belt One Road” (OBOR) Initiative forms the centerpiece of China’s leadership’s new foreign policy. The initiative aspires to put the nations of Asia, Oceania, Europe, and Africa on a new trajectory of higher growth and human development through infrastructural connectivity, augmented trade, and investment. The initiative offers tremendous opportunities for international economic cooperation, especially for African nations. This article examines China-Africa relations, centering on the possibility of expanding the OBOR initiative to cover more African nations. Africa has been the focus of China’s foreign policy since 2013. A study on the implementation of OBOR in Africa will allow for a better understanding of contemporary China-Africa relations, while hopefully providing answers to some of the questions surrounding the issue. In this article, we carefully examine the economic drivers, challenges – with suggestions on ways to navigate those challenges – and opportunities of the OBOR initiative.
African diaspora can be a potent force for development in Africa through the promotion of trade, investments, research, innovation, knowledge and technology transfers. Billions in African diaspora savings could bolster growth in Africa. For example, if one in every 10 members of the diaspora could be persuaded to invest $1000 in his or her country of origin, Africa could raise $3 billion a year for development financing. This paper delves into one of the approaches via which sustainable development can be achieved across Africa. It identifies that the New Partnership for African Development (NEPAD) will play a significant role in attaining this goal. In addition, recognizing that so much of Africa's brainpower is found 'off-shore', NEPAD has made a start in bringing resources to bear on African Development. Nonetheless, the study observed that lack of patriotic leadership has been a major challenge towards sustainable development in Africa. The study views Diaspora's alignment with NEPAD as the pivot for fresh partnership between Africa and the world beacons on the international community, especially the emerging economies such as China, to help bridge the development gap that has widened over the years of unequal relations; to achieve Africa's development renaissance.
African economies, through Agenda 2063, recognize that developing infrastructure – transport, electricity, energy, water, and e-connectivity – will be critical for the region to assume a lasting place in the global economic system. As a result, this paper addresses the continent’s infrastructure gap and provides an important insight into the rapidly growing presence of China’s official infrastructure financing in Africa as well as the distinctive character of its involvement. In addition, the paper provides an empirical evaluation of the role of infrastructure in awakening African economies. The generalized-method-of-moments (GMM) estimator for dynamic models of panel data developed by Arellano and Bond (1991), and Arellano and Bover (1995) was employed to estimate an infrastructure-increased growth model.
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