“Going global” in growth markets — Chinese investments in telecommunications in Africa
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China is broadening its investment base in Africa. Investments are shifting from extractive and heavy industries to also include the continent’s service sectors; such as telecommunications. The boom achieved in Africa’s telecoms industry, due to the liberalisation of the sector in many countries and the willingness of African governments to develop and modernise the telecoms industry, has attracted foreign investors, including Chinese multinational companies. Since the late 1990s, follow-ing China’s “go out” policy, Chinese telecoms companies have ventured abroad to acquire technology, new markets and develop new managerial skills.