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Angolan stock of Chinese direct investment worth US$2.6 bln

Just three African countries had amassed more Chinese direct investment than Angola by the end of last year, the China-Africa Business Council estimates.

Angola had accumulated foreign direct investment by China worth about US$2.6 billion, 5.5 percent of all Chinese direct investment in Africa, according to a document made public by the council last week.

Its estimate is based on Chinese official data, the council says.

It says Chinese private investment in Angola has flowed out beyond big infrastructure projects, growing rapidly in the businesses of construction, trade, real estate and manufacturing.

One-third of the length of all new roadway built in Mozambique since 2001 was built by Chinese contractors, and opportunities in the business of farming abound in Mozambique, the China-Africa Business Council says.