The penny has finally dropped that China is aggressively homing in on Africa’s abundant energy and mineral resources. Tipped off by a new policy statement on Africa from Beijing late last year; yet another high-level visit by the Chinese foreign minister to the continent early this year; and an overtly ambitious deal in Nigeria, analysts and the international press have seized on the story, in the process piecing together a continent-wide pattern of activity.
China’s top priority is long-term oil supply, which is crucial to sustaining its economic growth momentum. Chinese oil consumption is expected to grow at 10% a year, while its oil and gas imports are expected to rise from about one-third to as much as 60% of its total requirement by 2020. In response, China has invested substantially in Africa’s main oil-producing countries, where it now sources about 25% of its oil imports.
