China Battles France for Business in Former African Colonies
- Fast-growing economies of Ivory Coast, Senegal lure Chinese
- Chinese loans to Ivory Coast rise 1,400 percent in 2010-2015
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When Ivory Coast put out a tender to build a bridge over the lagoon in its commercial hub of Abidjan, 10 out of the 18 companies that expressed interest were either Chinese firms or in partnership with them. China State Construction Engineering Corp. won the contract in May.
The 109 billion CFA francs ($191 million) deal highlighted China’s growing muscle in a part of Africa that until recently its business people showed little interest in: the French-speaking west. The area’s fast-growing economies have seen a spectacular rise in loans from China, with its companies competing with firms from France for big infrastructure projects.