Across Africa, the growing presence of Chinese investments in economy and infrastructure is evident. In the last ten years, various state-owned firms, even a number of private companies, have become major investors in Africa with China being the single largest bilateral source of annual foreign investment in Africa. Indeed Chinese investment permeates almost every sector of Africa’s economy. As of mid-2012, China’s Ministry of Commerce estimated that cumulated foreign direct investment in Africa had exceeded $14.7 billion.