{"id":625029,"date":"2018-09-25T04:18:31","date_gmt":"2018-09-25T04:18:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/25\/the-new-scramble-for-africa-is-not-the-same-as-the-old\/"},"modified":"2018-09-25T04:18:31","modified_gmt":"2018-09-25T04:18:31","slug":"the-new-scramble-for-africa-is-not-the-same-as-the-old","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/25\/the-new-scramble-for-africa-is-not-the-same-as-the-old\/","title":{"rendered":"The new \u201cscramble for Africa\u201d is not the same as the old"},"content":{"rendered":"

The new \u201cscramble for Africa\u201d is not the same as the old: <\/strong>Much attention has been given to the influx of investment and credit from China to African nations in what some have called a \u201cnew scramble for Africa\u201d the FT says<\/a>. But unlike the previous grab of colonial European days, this influx of capital and geopolitical influence is being led by the likes of Brazil, Russia, the GCC and Turkey \u2014 all of whom are following China\u2019s lead.<\/p>\n

Caught off guard:<\/strong> How is it that China has spearheaded this influx of EM capital into the continent at the expense of Europe the US? \u201cAt the end of the cold war, the west very much withdrew and stopped asserting its interest in Africa,\u201d says Howard French, a professor at the Columbia School of Journalism and an expert on Africa. \u201cIt has taken all this time for the vacuum that this created to draw in a panoply of new players. China is the most obviously important, but Malaysia, India, Vietnam, Turkey, Brazil, Russia and the Gulf states have all been drawn in,\u201d he says.<\/p>\n

The numbers make sense to EM companies: <\/strong>\u201cIn spite of Africa\u2019s well-documented problems, companies with a cheaper cost base than European or American rivals can often turn a good profit,\u201d writes David Pilling. Furthermore, Africa\u2019s fundamentals and macro climate are proving enticing. Six of the world\u2019s 10 fastest-growing economies are in Africa<\/strong>, with demographics largely skewed towards the young. EM countries outside the continent were quick to spot the similarities.<\/p>\n

And now the West wants back in:<\/strong> Sensing that they were left behind, the EU, the UK and the US are now trying to find their place back in the running. Last year, Germany launched what it called a \u201cMarshall Plan with Africa,\u201d pledging public money to companies investing on the continent. French President Emmanuel Macron is also pushing for commercial re-engagement. Even the Trump administration has authorized a larger budget for African investment.<\/p>\n

Really want to see European desperation? <\/strong>Look to UK Prime Minister Theresa May, who started to develop a reputation as the most awkward dancer ever even as she proved herself a good sport (watch, runtime: 1:01<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

The new \u201cscramble for Africa\u201d is not the same as the old: Much attention has been given to the influx of investment and credit from China to African nations in what some have called a \u201cnew scramble for Africa\u201d the FT says. But unlike the previous grab of colonial European days, this influx of capital […]<\/p>\n","protected":false},"author":1,"featured_media":625030,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[72,1510],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-enterpriseam","tag-the-macro-picture","wpautop","entry"],"acf":{"mongo_id":"771ecac1-5f91-4b82-8746-6aa1667d4b65","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2018\/9\/2612.jpg","photo_position":"above","related_issue":[625008],"teaser":"","voice_url":""},"yoast_head":"\nThe new \u201cscramble for Africa\u201d is not the same as the old - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/25\/the-new-scramble-for-africa-is-not-the-same-as-the-old\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The new \u201cscramble for Africa\u201d is not the same as the old\" \/>\n<meta property=\"og:description\" content=\"The new \u201cscramble for Africa\u201d is not the same as the old: Much attention has been given to the influx of investment and credit from China to African nations in what some have called a \u201cnew scramble for Africa\u201d the FT says. 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The latest rush by non-African countries to find avenues for trade and investment on the continent is, the Economist argues, a chance to put Africans in the driving seat (watch, runtime: 04:10). Greater openness, fewer wars, and better macroeconomic policies\u2026","rel":"","context":"In "Worth watching"","block_context":{"text":"Worth watching","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-watching\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/2336.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571370,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/10\/could-africa-become-the-next-epicenter-of-the-pandemic\/","url_meta":{"origin":625029,"position":1},"title":"Could Africa become the next epicenter of the pandemic?","author":"enterpriseam admin","date":"10 May 2020","format":false,"excerpt":"Could Africa become the next epicenter of the pandemic? The continent\u2019s massively underprepared healthcare systems spells a recipe for disaster if an influx of covid-19 cases hit. Between 29-44 mn could be infected and as many as 83-190k die as a result of covid-19 in a single year if no\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593820,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/10\/chinese-tech-companies-are-dominating-in-africa\/","url_meta":{"origin":625029,"position":2},"title":"Chinese tech companies are dominating in Africa","author":"enterpriseam admin","date":"10 October 2019","format":false,"excerpt":"Chinese tech companies are dominating in Africa: Tecno, a phonemaker owned by Shenzhen-based Transsion, has become one of the most well regarded brands in Africa thanks to the Chinese company\u2019s commitment to the market, David Pilling writes in the Financial Times. Unlike its Western competitors, Transsion has built cheaper phones\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597733,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/made-in-africa-could-be-the-new-made-in-china-in-50-years\/","url_meta":{"origin":625029,"position":3},"title":"\u201cMade in Africa\u201d could be the new \u201cMade in China\u201d in 50 years","author":"enterpriseam admin","date":"2 May 2019","format":false,"excerpt":"\u201cMade in Africa\u201d could be the new \u201cMade in China\u201d in 50 years if enough focus is given to investing in manufacturing across the continent, our friend Carbon Holdings CEO Basil El-Baz writes for the Financial Times\u2019 Beyond Brics blog. Many economies in Africa have already been flourishing over the\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571179,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/","url_meta":{"origin":625029,"position":4},"title":"China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze","author":"enterpriseam admin","date":"3 May 2020","format":false,"excerpt":"China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze: Several countries are seeking debt relief from China on loans handed out by its banks under the Belt and Road Initiative (BRI) as the covid-19 pandemic is straining their economies, the Financial Times reports. Chinese lenders, including Exim\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/5.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569712,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/the-real-problem-with-africas-pile-of-eurobond-debt-is-the-repayment-terms-not-just-the-amount-of-debt\/","url_meta":{"origin":625029,"position":5},"title":"The real problem with Africa\u2019s pile of eurobond debt is the repayment terms, not just the amount of debt","author":"enterpriseam admin","date":"4 March 2020","format":false,"excerpt":"The real problem with Africa\u2019s pile of eurobond debt is the repayment terms, not just the amount of debt, African Development Bank President Akinwumi Adesini tells Bloomberg. Africa currently isn\u2019t facing a debt crisis, but governments seem to be avoiding negotiating more favorable terms for eurobond issuance and commercial loans.\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/58.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/625029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=625029"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/625029\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/625008"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/625030"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=625029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=625029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=625029"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=625029"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=625029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}