China to bridge Africa’s talent, other gaps with US$50.6bn

By Ernest Bako WUBONTO

The newly-appointed Chinese Ambassador to Ghana, Tong Defa, has underscored the need for more skilled human resources in specific technical areas to drive Africa’s development as China prepares to provide US$50.6billion in financial support for Africa over the next three years.

He mentioned that lack of professional and skilled talent is a significant bottleneck hindering Africa’s sustainable development, hence the Chinese government will intensify its support for education and human resources development of youth in Africa.

He highlighted the 10-point partnership actions for China-Africa cooperation unveilled earlier this year – including the modernisation of industry, agriculture, trade, investment, training and infrastructure.

Others are access for Africa’s goods to the Chinese market, 30 infrastructure connectivity projects, development cooperation comprising 1,000 livelihood projects and creating at least one million jobs for Africans.

“To implement the 10 partnership actions, the Chinese government will provide RMB 360 billion yuan (US$50.6billion) of financial support through the next three years.

“While making up these grand blueprints, both the Chinese and the sides have identified lack of professional and skilled talent as a major bottleneck holding back the independent and sustainable development of Africa,” he said.

Given this siyuation, he reiterated that the Chinese government is resolved to intensify its support of education and human resources development.

The ambassador emphasised that President Xi Jinping has underscored China’s commitment to ensuring no country is left behind in global modernisation, hence China views Africa as a vital partner and is dedicated to strengthening synergy between the Belt and Road initiative and African Union’s Agenda 2063.

The expected US$50.6bn will include a US$29.4bn credit line, US$11.2bn in various forms of assistance and at least US$9.8bn of investment in Africa by Chinese companies.

It’s widely recognised that Africa is a new pole to drive global economic growth – and the vast continent has huge growth potential, but Africa’s development and economic transformation needs international business management personnel and pioneering entrepreneurs.

Even though entrepreneurs and small-scale businesses dominate economies on the continent, most of them lack the requisite skills to grow and ensure sustainability; hence the need for skills enhancement initiatives to develop this talent.

At the China Europe International Business School (CEIBS) Ghana-Nigeria graduation ceremony, Ambassador Tong emphasised how crucial  elite entrepreneurs in Ghana and Nigeria are for driving African and national modernisation and economic transition.

He is optimistic that focusing on education and human resources development will yield long-term benefits for the continent.

Mr. Tong shared that China’s development provides historical opportunities for Africa and Ghana. “The relationship between China and African countries, including Ghana, have become unprecedentedly close.”

In 2023, China-Africa trade volume reached US$282.1 billion. China remained Africa’s largest trading partner and contributed more than 20 percent to Africa’s economic growth. By the end of 2023, China’s direct investment stock in Africa exceeded US$40billion.

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