Agri-business Business Editor's Choice

China Africa fund opens ‘window service’

MWAZIPEZA CHANDA, Beijing
THE China Africa Development Fund (CADFund) has introduced a “window service” aimed at assisting African businesses developing viable investment proposals.
Currently, CADFund has representative offices in Ethiopia, Ghana, South Africa and Zambia, with a fifth one opened last week in Kenya.
This was disclosed to African journalists at a meeting at the CADFund head office in Beijing recently.
CADFund executive vice-president Zhou Chao said the US$10 billion funding that was announced at last year’s Forum for China Africa Cooperation (FOCAC) Johannesburg Summit will see Africa develop itself with its own capacity.
“We are generating blood for Africa as opposed to transfusing it like other commercial entities,” Mr Zhou said.
He said the firm had advanced the Chinese initiative of advanced industrial investments into Africa and it was hoped that more governments would create conducive policies and environments to attract investments.
The window service falls under the Market Development and Consulting Services department that collaborates with domestic and foreign governments, enterprises, financial institutions and international organisations on strategy, business and cross-regional coordination.
It provides consulting services for Chinese and African governments and enterprises ranging from development plans to investment strategies, merger and acquisition, project financing and investment brokering in Africa.
CADFund mainly supports Chinese firms investing in Africa and seeks Chinese partners for African projects based on market principles and providing support for long-term investment projects in Africa.
Over US$3.5 billion has been financed to 87 projects in 36 African countries by the end of August 2016.

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