On Line Opinions: The African boom: China and India investments and the implications for Australia

Africa is in the midst of an economic boom. Foreign Direct Investment [FDI] in Sub-Saharan Africa grew from $9bn in 2000 to over $62bn in 2008, with Ernest & Young capital investment forecast of $150bn by 2015.The number of African households with discretionary income is growing. It is being driven by investments from China and India that could bring Australia's mining boom to a close sooner than expected.

In 2002, China surpassed Britain as Africa's third largest trading partner. In 2006 is surpassed France to number 2 and in 2009 China supplanted America into first place, with trade of over $129bn. Bloomberg predicts China-Africa trade at $300bn by 2015.

The Export-Import Bank of China is the world's third largest export credit agency, providing more export credit in 2008 than the entire G7. Between 2001 and 2010, the China Export-Import Bank lent $67.2bn to Sub-Saharan Africa, $12.5bn more than the World Bank. In 2012 the China Development Bank lent $2bn to small and medium-sized enterprises in Africa; 24 projects in 25 countries.