China-Africa Development Fund
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Founded | June 26, 2007[1] |
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Headquarters | Beijing, China |
Area served | China, Africa |
Key people | Zhao Jianping (Chairman) Chi Jianxin (President) |
Website | www.cadfund.com |
The China-Africa Development Fund (Chinese:
History[edit]
The creation of
Investments[edit]
The fund's primary purpose is foster Sino-African investment through bridging finance, financial advice, Africa specific managerial advice, and identification of potential investment opportunities as well as connecting African projects to Chinese investors.
As of 2010 the fund had invested in 30 projects in Africa worth around US$800 million. In 2009 alone, the fund invested US$140 million of China's total US$1.3 billion invested in Africa that year.[2] The fund primarily focused on industrial development. For example, in 2010 it teamed up with several partners by contributing 382.5 million ZAR into a 1.65 billion ZAR investment by Jidong Cement to build a cement plant in Limpopo, South Africa.[4]
The fund has also participated in acquiring natural resource assets by forming a joint venture with China National Nuclear Corporation (then China Guangdong Nuclear Power Group) to acquire most of the Husab Mine for US$996 million in February 2012.[5]
The fund made a rare move in media in December 2013 when it was the financial partner in the acquisition of 20% of Independent News and Media SA, a newspaper publishing house in South Africa, for 400 million ZAR.[6]
List of equity investments[edit]
- China-Africa Xinyin Investment (35%)
- Huayou Cobalt (SSE: 603799, 7.59%)[7]
- Africa World Airlines[8]
Grants and other activities[edit]
The China Africa Development Fund provides support in connection with the overseas special economic zones that Chinese enterprises have established in Africa.[9] Although the Chinese government generally takes a hands-off approach to the development of these zones, leaving it to Chinese enterprises to work with host countries to establish them, the
Specific current involvement[edit]
The
Ethiopia[edit]
The
Ghana[edit]
The Cad Fund's main investment in Ghana are power plant construction and developments. Most notable is the Asogli power plant in Tema.[12] This plant is the first private owned electricity producing plant in Ghana, using natural gas.
Kenya[edit]
The
South Africa[edit]
The
Zambia[edit]
The bulk of the
See also[edit]
References[edit]
- ^ a b "Company Overview".
CAD Fund website.CAD Fund. Archived from the original on 14 November 2013. Retrieved 22 February 2012. - ^ a b Yan, Zhou (28 May 2010). "
CAD Fund to boost footprint in Africa". China Daily. Retrieved 22 February 2012. - ^ Murphy, Dawn C. (2022). China's rise in the Global South : the Middle East, Africa, and Beijing's alternative world order. Stanford, California. p. 74. ISBN 978-1-5036-3060-4. OCLC 1249712936.
{{cite book}}
: CS1 maint: location missing publisher (link) - ^ "China seals cement deal with S Africa". The Financial Times. May 13, 2010.
- ^ Stewart, Robb M. (February 2012). "Rio Tinto Accepts Chinese Bid for Kalahari Shares". The Wall Street Journal. Retrieved 22 February 2012.
- ^ Sam Sole and Craig Mckune (28 August 2014). "What's black and white and in the red all over?". Mail and Guardian. Retrieved 8 September 2014.
- ^ 华友钴业关于
公司 股 东中非 发展基金 减持股 份计划的公告 (in Chinese) - ^ "Africa: Ghana's leading carrier, Africa World Airlines takes delivery of 7th aircraft". 29 October 2018.
- ^ a b Murphy, Dawn C. (2022). China's rise in the Global South : the Middle East, Africa, and Beijing's alternative world order. Stanford, California: Stanford University Press. p. 177. ISBN 978-1-5036-3060-4. OCLC 1249712936.
- ^ Brautigam, D.; Tang, X. (2012). "An overview of Chinese agricultural and rural engagement in Ethiopia. Development Strategy and Governance Division" (PDF). International Food and Policy Research Institute – via Google Scholar.
- ^ Geda, A.; Meskel, A.G. (2009). "Impact of China-Africa Investment Relations: Case Study of Ethiopia". African Economic Research Consortium – via Google Scholar.
- ^ Schickerling, E. J. (2012). The role of the China Africa Development Fund in China's Africa policy (Doctoral dissertation, Stellenbosch: Stellenbosch University). Stellenbosch University Press (Thesis) – via Google Scholar.
- ^ Ombaba, K. M. B.; Arogo, P. A.; Bii, P.; Omuya, J.; Ongeri, L.; Kabuka, P. O. (2012). "A study on the impact of China's investments in Africa: the case of Kenya". Sabinet African Journals. hdl:10520/EJC127664 – via Google Scholar.
- ^ Alden, C.; Wu, Y. (2014). "South Africa and China: The making of a partnership. Johannesburg: South African Institute of International Affairs" (PDF). South African Institute of International Affairs – via Google Scholar.
- ^ Mushota, C. E. (2021). "China in Africa: Partner or Exploiter? The Case of Zambia". CUNY Academic Works – via Google Scholar.