DIANA CHAN HAS BIG PLANS for Nigeria. Casting her gaze over a fleet of brand new GAC Motor cars neatly parked outside her head office in Ligali Ayorinde, Victoria Island, Lagos, Chan can visibly see her years of hard work and investment into Africa’s most populous economy starting to pay off.
“We just received our new fleet of GS8 cars from China today and we are donating one to the Lagos state government. We also support various arts and culture initiatives as well as sporting events in Lagos,” says Chan. A born entrepreneur, Chan’s journey to
West Africa followed an assignment six years ago, when Chan was looking for a new market for her LED rechargeable torchlights and fans.
In 2016, hungry for more adventure, she packed her bags and headed for Nigeria, where, with no business network, set up the African chapter of China’s leading automobile manufacturer, GAC Motor.
Chan is one of hundreds of thousands of Chinese citizens who have ventured into the land of milk and honey.
Popular estimates are that there are over a million Chinese migrants in Africa.
Chan sees in Nigeria a raw energy and ambition that if properly harnessed can be a force to be reckoned with.
“China is completely over-saturated and there is not a lot of opportunities there to make a big fortune, not like it is in Africa, especially Lagos,” she enthuses. “Most Chinese brands are looking outside China to make more money as competition is tough back home.”
The influx of Chinese entrepreneurs is by no means limited to Nigeria. According to a 2017 report by McKinsey, there are some 10,000 Chinese companies operating in Africa, including 920 in Nigeria and 861 in Zambia with the value of African industrial output handled by Chinese businesses estimated to be about $500 billion.
Bu hikaye Forbes Africa dergisinin October 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Forbes Africa dergisinin October 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
HIP-HOP'S HOTTEST HUSTLER
The Memphis rap star runs one of the biggest music labels, owns a piece of an MLS team and is looking to expand his empire like his billionaire mentor Jay-Z. But first, he's going to business school.
Kigali Triennial, The Ambitious New Event On The African Cultural Calendar
Rwanda has rightly earned the nickname of \"a land of a thousand hills and a thousand and one opportunities\" because of the country's impressive economic progress. However, after the recently-concluded celebration of arts which was the inaugural Kigali Triennial festival, you can now add culture to the list of things the country offers for tourists and investors.
The dark Side of AI
There is a thin line between innovation and abuse. A look at how large language models (LLMs) are making cyber-criminals even better at mastering the art of deception.
Gene Gamechanger
Disease-resistant crops? Cows that can withstand climate change? Here's how CRISPR is already transforming the continent, and why building a network of skilled scientists can help position Africa as a key global contributor in this frontier of crop development.
Women Empowerment And Transformation In Mining: A Distinctive Perspective
GMDC is a mining company that specializes in tungsten (wolfram) and operates in the city of Kigali, Nyarugenge District, Mageragere Sector.
How The Mining Sector Contributes To Community Development Initiatives
It plays a significant role in Rwanda's overall development, contributing to infrastructure, job creation, health, education, and even environmental conservation. It's not just about extracting resources; mining is mandated to build up the communities and nation alongside its operations.
Reflecting On 2023 Milestones And A Look Ahead
Last year solidified Rwanda's position as a prime African mining investment destination and a burgeoning hub for mineral value addition. What will 2024 hold?
Rwandan Mining Regulator Unveils Three-Year Mineral Exploration Campaign
A holistic approach to responsible mineral resource management in the country.
TASTING SUCCESS
Paul Siguqa has had an unlikely journey in the wine business in South Africa. His mother worked in the vineyards as a laborer during the apartheid era and now, his fully black-owned wine farm sells premium products.
Creating Stronger Communities In Africa Through Digital And Financial Inclusion
In Sub-Saharan Africa, a silent barrier to economic inclusion and social mobility persists: one in four adults lacks identification, according to a World Bank report.
