Startups look to Chinese investors for help

Africa's young entrepreneurs say they hope to get support from Chinese investors.

David Kandi, 29, established Zion Hub, an IT service company, three years ago in his hometown in the Democratic Republic of the Congo. The company provides IT services such as designing websites for business clients.

The startup is making a profit, but Kandi still is short of money to expand his business.

"Africa is developing fast. Apart from infrastructure construction, we also needs technology upgrades, where I think Chinese investors can also find many good business opportunities," Kandi says.

Liang Junda, deputy chief of the provincial committee of the Youth League in Guangdong, spoke at the 2016 China-Africa Youth Entrepreneurship Forum in Guangzhou on Aug 2 about the organization's efforts to help young entrepreneurs through startup incubators and internships.

"We will enhance the communication with African young entrepreneurs to seek more cooperation and make good use of our complementary advantages," Liang says.

To achieve the goal, more ways are needed for African young people to communicate with their Chinese counterparts, says Arnold Ngowani, vice-president of Zambia China Old Students Association, a group for Zambian students who have studied in China.

Ngowani, 33, studied Chinese for a year at Donghua University in Shanghai and acquired a master's degree of economics and finance there. "Studying in China changed my life," he says.

At Donghua, Ngowani met the Chinese investor of Golden Lotus Insurance Co Ltd, a joint venture based in Zambia that covers 70 percent of the Chinese construction companies doing business in Zambia, he says. Ngowani is now the company's marketing director.

"There are an increasing number of Chinese construction companies doing business in Zambia and most of them have problems dealing with local insurance companies because of language and cultural differences. Our joint venture understands both countries well and can offer great help.

"China is contributing a great deal to the development of Africa and construction is just one of the many sectors."