Business / Economy

China makes it easier for Africans to access consumer goods: expert

(Xinhua) Updated: 2016-07-04 11:17

NAIROBI - China has made it easier for Africans to access consumers goods that were previous beyond their reach, a Kenyan think tank said on Sunday.

Institute of Economic Affairs (IEA) Kenya CEO Kwame Owino told Xinhua in Nairobi that traders are now able to travel to China and buy electronics for their home markets.

"The travel requirements for African traders to access Chinese markets are much easier and this has made it possible for low and middle income households afford modern electronics," Owino said.

Before China became a manufacturing giant, Africans used to source consumers goods from western nations that have stringent travel requirements for traders.

The CEO said that because China is a massive producer of consumer goods, there has been drastic reduction in the retail price.

"This has been a great advantage to African households," he added.

The think tank urged African nations to learn from Chinese development model in order to become the next manufacturing frontier for electronic goods.

"Manufacturing electronic has many advantages to the economy because it creates a lot jobs," he said.

Owino noted that the easiest way for Africa to become an industrial hub is by anchoring itself into global value chains.

He said that the continent can begin importing electronic goods components which are then assembled and sold globally.

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