China’s infrastructure investment in Africa is immense. In 2005, only four African countries received infrastructure investment from China, while by 2023, this figure had risen to 46. The high growth of China’s infrastructure investment in Africa in the past two decades is primarily attributed to the pre-COVID period (61.45% from 2005 to 2019). We have seen a decline in this investment (-23.49 % from 2020-2023) due to ongoing adjustments to China’s model of operating overseas infrastructure investment since COVID-19.

Several factors contribute to this adjustment. First, in the past, China’s overseas infrastructure projects are often undertaken within an enclave system, including financing, procurement, construction, and loan repayment. The broken supply chains during COVID-19 made this operation impossible. Second, emerging domestic economic problems since COVID-19 have also become obstacles to China’s further economic growth, reducing China’s financial capacity. Third, the risk management of China’s overseas infrastructure investment was weak in the past. China has determined the destination and the scale of investment mainly based on diplomatic ties, geopolitical alignment, and political relationships with recipient countries, but negative shocks such as COVID-19 have brought about real consequences when host countries fail to repay China’s infrastructure lending. Fourth, geopolitics has become more important than ever in China’s overseas economic operations. The international community, including the US, EU, UK, and other OECD countries, has all enhanced regulatory scrutiny of Chinese investment due to national security concerns, leading to stronger public resistance to China’s economic activities in host countries. Consequently, trade wars and the competition for critical resources have resulted in a revamp of the global supply chains. Moreover, geopolitics also brought in more rivals to compete with China’s financing in emerging and developing economies.

What do these changes imply for Africa? We will bring together researchers, policymakers and practitioners to discuss issues surrounding the China-Africa economic interactions through the lens of China’s infrastructure investment. The conference is hosted by the SOAS Centre for Global Finance, and co-organised by ODI and the African Economic Research Consortium (AERC).

This conference is free to attend, but registration is required. Please sign up via the CGF-ODI-AERC Conference 2024 Event Page

Keynote Speakers

Professor Franklin Allen
Professor of Finance and Economics, Imperial College Business School (ICBS)

Franklin Allen is Professor of Finance and Economics and Executive Director of the Brevan Howard Centre at Imperial College London and has held these positions since July 2014. He was on the faculty of the Wharton School of the University of Pennsylvania from July 1980 – June 2016. He now has Emeritus status there. He was formerly Vice Dean and Director of Wharton Doctoral Programs, Co-Director of the Wharton Financial Institutions Center, Executive Editor of the Review of Financial Studies and Managing Editor of the Review of Finance. He is a past President of the American Finance Association, the Western Finance Association, the Society for Financial Studies, the Financial Intermediation Research Society and the Financial Management Association, and a Fellow of the Econometric Society. He received his doctorate from Oxford University. Prof. Allen's main areas of interest are corporate finance, asset pricing, financial innovation, comparative financial systems, and financial crises. He is a co-author with Richard Brealey and Stewart Myers of the eighth through twelfth editions of the textbook Principles of Corporate Finance.

Ms Hannah Ryder
Chief Executive Officer, Development Reimagined

Hannah Wanjie Ryder is the CEO of Development Reimagined, an influential African-owned and African-led international development consultancy. A former diplomat and economist with over 20 years of experience and named one of 100 most influential Africans in 2021, Ms Ryder is also inter alia Senior Associate for the Africa Program of the Center for Strategic International Studies (CSIS), sits on the Board of the Environmental Defence Fund, is a member of UAE's International Advisory Council on the New Economy, and the Special Adviser for the Common Leveraging Union of Borrowers for the Organisation of Southern Cooperation (OSC). Prior to her role at DR, Ms Ryder led the United Nations Development Programme (UNDP)’s work with China to help scale up and improve cooperation with low- and middle-income countries, including in Africa. She has also played various advisory roles for the UN and OECD and co-authored the seminal Stern Review of the Economics of Climate Change in 2006.