The Africa Growth Solutions (AGS) and China-Africa Commercial Affairs Centre have signed two historic Memoranda of Understanding (MOUs) in Changsha, China, paving the way for unprecedented economic cooperation between China and Africa.
The signing ceremony took place on October 23, 2024.
The MOUs aim to unlock Africa’s growth potential through strategic partnerships, focusing on industrial development, infrastructure development, and expanding markets for both China and Africa.
A joint venture will also be established to promote trade and investment between China and Ghana, fostering economic cooperation and bilateral relations.
Key sectors targeted for development include infrastructure, such as energy, roads, transport, water, and telecommunications, as well as agriculture, health, and education.
The partnership will also provide capacity-building programs for African businesses, facilitate knowledge and technology transfer, and enhance trade volumes and investment flows between China and African countries.
The President of AGS, Akwasi Opong-Fosu expressed excitement about the partnership, stating, “We are committed to unlocking Africa’s growth potential and driving growth. Implementing this initiative in Ghana and expanding it to other countries is a thrilling prospect.”
Jack Chan, Director of China-Africa Commercial Affairs Centre, echoed this sentiment, saying, “The MOUs mark a significant milestone in strengthening Sino-African relations and promoting mutually beneficial cooperation. We look forward to achieving sustainable economic growth and development together.”
This groundbreaking initiative aligns with the Forum on China-Africa Cooperation Beijing Action Plan (2025-2027), which aims to promote cooperation in areas such as industrialization, agricultural modernization, and green development.
The post China, Africa strengthen ties with historic MoU signing first appeared on 3News.
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