East African ministers will, next month, head to Beijing for the annual Africa Power and Infrastructure Forum (AIPF) where they are expected to attract more Chinese investors into financing regional projects, including the proposed multi-billion dollar standard gauge railway.
In its fourth edition this year, the forum is being organised by EnergyNet, an online oil and gas auction platform, in partnership with the China-Africa Development Fund formed in 2006 to support Chinese companies to develop investment partnerships in Africa.
The fund currently has some $5 billion under its management and its handlers will be offering part of the money to African countries with attractive projects that require private investor financing.
According to the organisers, more than 10 project proposals will be presented during the forum which takes place from October 15-16.
The forum is expected to attract several Chinese investors looking for juicy investment openings at a time when China’s economy is experiencing a downturn due to structural reforms.
Rwanda, Uganda and Kenya are to each send a minister to jointly market the standard gauge railway (SGR), an important infrastructure venture aimed at facilitating regional trade along the Northern Corridor.
The New Times understands that East Africa’s lineup in Beijing will feature Rwanda’s Minister for Infrastructure James Musoni, Uganda’s State Minister for Privatisation Aston Kajara and Kenya’s Treasury Cabinet Secretary Henry Rotich.
Rwanda’s Infrastructure ministry, when contacted yesterday, couldn’t readily confirm whether Minister Musoni will attend the forum but Permanent Secretary Christian Rwakunda said China has already agreed in principle to bankroll the venture from Mombasa to Kigali through Kampala.
Source: The New Times

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