An interesting commentary, although the conclusion is rather strong. Anyway it starts with:
Under the radar of the Western world, China has patiently established its influence among Africa's emerging powerhouses, setting its sights on the continent's most contested resource: The Nile River. Amidst the decline of Egypt and the rise of Ethiopia, China has managed to manipulate a long-brewing conflict between Africa's two major powers to its benefit, slowly replacing the West as the continent's new kingmaker.

In recent months, China has ruffled feathers from Lake Victoria to Alexandria with its aggressive funding and building of dams in Ethiopia, a likewise aggressive contender for regional hegemony.
It ends with:
Recognizing the potential of the world's most truly valuable resource, China has assumed a dominant role in African affairs for years to come. As Bejing's new leadership has keenly understood, the ability to foment and mediate conflicts in Africa's vital Nile River Basin will put China on the fast-track to global leadership. With Egypt in decline and Ethiopia on the rise, the West's options for tipping the scales back in their favor are drying up.
Link:http://www.huffingtonpost.com/daniel...?utm_hp_ref=tw

How funding new dams enables global leadership eludes me, nor has the West been dominant in Africa for a long time. China's track record in Africa is very mixed, although I do concede much of the past was state-led and now the state plays a different, lesser role.