Chinese Belt and Road Initiative investment announcements in Africa rocketed 254 percent year-on-year to a record $33.5 billion, according to data from the Green Finance & Development Center and the Asia Pacific Centre for Industry Transitions. Africa accounted for roughly 67 percent of all Chinese BRI investment announcements worldwide during the period—an astonishing concentration at a time when overall BRI activity elsewhere is cooling. In Ethiopia, Ming Yang Smart Energy Group’s proposed renewable energy and green ammonia programme, valued at around $14.17 billion, stands out as one of the largest private foreign direct investments in the country’s history.