10 African Currencies that Have Chinese-Funded Projects on Them

On Thursday, President Xi Jinping announced a big boost in China’s support for Africa, promising nearly $51 billion in funding, more infrastructure projects, and at least 1 million new jobs.

Despite China’s economic struggles, this move shows they are still serious about their involvement in Africa, even as competition with the US heats up.

For years, China has been Africa’s biggest trading partner, striking deals for major infrastructure projects like roads, railways, and power plants as part of their Belt and Road Initiative.

Recently, China’s investment in the continent has slowed down. That changed last year when Chinese lenders approved $4.61 billion in loans to Africa, the first jump in investments since 2016. Between 2000 and 2023, China poured $182.28 billion into Africa, cementing its role as the top global lender.

Now, Xi is pushing to triple China’s infrastructure projects across Africa. Even though China is also eyeing smaller, high-tech projects focused on green energy, their commitment to big development is still strong.

While African countries have gained a lot from this partnership, there are growing worries about the long-term costs—like rising debt, threats to economic independence, and the environmental and social effects of all this development.

Adding to the unease is the fact that at least 10 African currencies now feature Chinese-funded projects, according to Beijing’s foreign ministry.

This has sparked worries about growing Chinese influence, as some fear these images symbolize deeper economic dependence and could compromise Africa’s ability to make independent financial and political decisions.

In recent decades China has struck trade, infrastructure, and security deals worth billions as part of its global Belt and Road Initiative.

But China’s investment in Africa has dropped sharply in recent years amid domestic economic woes, while the US seeks to catch up amid in an intensifying race for global dominance.

Below are 10 African currencies that have Chinese-funded projects on them:

The new Egyptian 50 piastres note features the Central Bank of Egypt’s (CBE) headquarters, a key project in the new administrative capital—a development significantly supported by Chinese investment

Sudan’s 100-pound banknote features three major infrastructure projects funded with Chinese support: the Rosieres Dam, the Moremi Dam, and the Colex Dam in the Upper Athara region.

The 20 Shilling note from Kenya features the Moi International Sports Centre, a prominent stadium constructed in 1987 through a collaboration between the Kenyan and Chinese governments. As one of the largest and most renowned stadiums in Africa, it has been a focal point for major events. The Chinese government has also been involved in several renovations and repairs over the years.

On Morocco’s 20 dirham note, you will find the Mohammed VI Bridge, a significant infrastructure project developed with Chinese support. This modern bridge spans the Bouregreg River, connecting Rabat and Salé, and was constructed as part of Morocco’s broader development initiatives.

Malawi’s 200 kwacha note features the country’s new parliament building, a prominent symbol of modern governance constructed with China’s support. Completed in 2010, this impressive structure in Lilongwe was funded and built by China as part of its growing infrastructure investments in Malawi.

Malawi’s 2000 kwachas also shows the scenery of the Malawi University of Science and Technology funded by the Chinese government.

Algeria’s 1,000 dinar note prominently features the Great Mosque of Algiers, a landmark project that received significant Chinese support. The mosque was built by China State Construction Engineering Corporation (CSCEC), a major multinational known for its involvement in heavy industry and infrastructure projects across Africa and globally.

Guinea’s 20,000 francs note features the Kaleta Hydropower Station, a huge infrastructure project funded with Chinese assistance.

The Kaleta Hydropower Station, built by the China International Water & Electric Corporation (CIWEC), represents China’s substantial investment in Guinea’s energy sector.

The Republic of Guinea’s currency proudly features the Kinkon Hydropower Station, a major infrastructure project constructed with the expertise and support of China

The 500 franc note from the Democratic Republic of Congo showcases the Kinsuka Bridge, a key infrastructure project built with Chinese expertise. As a landmark project showcasing China-Africa cooperation, it was listed as one of the “five key projects” covering infrastructure, medical care, education, hydropower and housing by the DR Congo government.