China pledges $50 billion in financial support, military aid to Africa

China’s President Xi Jinping pledges $50 billion in financial support, private investment, and military aid to Africa over the next three years.

China’s President Xi Jinping has pledged $50 billion in financial support to Africa, including credit funds, assistance, and private investment, over the next three years.

Xi made the announcement during the Forum on China-Africa Cooperation in Beijing, where he outlined his vision for strengthening ties with Africa, which he described as being in its most favourable period in history.

In his 10-minute speech, Xi detailed ten key areas for future cooperation, focusing on infrastructure, trade, security, and green development.

The $50 billion pledge surpasses China’s previous $30 billion commitment but is lower than the $60 billion pledged in 2015 and 2018. However, the new financial commitment reaffirms China’s strategic interest in Africa amid growing competition from Western powers.

The pledge also includes $280 million in aid, split evenly between military and food assistance.

The $140 million allocated for military aid is the largest ever pledged at the Forum, signalling a heightened focus on security in the China-Africa relationship. Xi also promised to train 6,000 military personnel and 1,000 law enforcement officers, reflecting Beijing’s ambition to expand its security ties with the continent.

The Forum saw participation from African leaders, including South Africa’s Cyril Ramaphosa, Kenya’s William Ruto, and Nigeria’s Bola Tinubu. The event emphasised China’s intent to elevate its diplomatic relations with African nations to a strategic partnership level.

Xi’s speech highlighted China’s role in addressing global challenges like conflict, climate change, and competition over critical minerals.

However, concerns have been raised about how these pledges will be fulfilled, with analysts pointing to difficulties in tracking past commitments.

Despite these concerns, the new pledge underscores China’s continued dedication to Africa’s development.