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Vol 3 (AAC) No 6

Published 1st April 2010

CADF in Africa: Deals from 2009-2010

April 2009: the China-Africa Development Fund and YTO Group announced a joint venture – the China-Africa Machinery Corporation – to manufacture agricultural and construction equipment. YTO agreed to invest US$20.1 million for a 55% stake, while the CADF paid $16.5 mn. for 45%. The first countries to be targeted were South Africa and Algeria. When the deal was announced, the CADF said that it was considering another 10 projects relating to transport supplies, home appliances, agricultural goods and motorcycles.

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