Wang Yi Promises Multibillion-Dollar Investments in Namibia During African Tour

World News

1 year ago

News sources:

Credited from: SCMP

Chinese Foreign Minister Wang Yi is currently on a four-nation tour of Africa, starting with Namibia, where he revealed plans for multibillion-dollar investments.
The investments will target nuclear power, minerals processing, and housing for police, aiming to leverage Namibia's rich resources for development.
Namibia, a leading producer of uranium, seeks to boost its green transition by attracting investment in solar and wind energy.
China is set to invest significantly in Swakop Uranium, which holds the title of the largest single Chinese investment in Africa at US$5.1 billion.
Wang Yi emphasized that China is a trustworthy ally of African nations and highlighted the growing economic ties amidst geopolitical rivalries in the region.