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Published 1st April 2010

Vol 3 (AAC) No 6


CADF expands Africa network

Image courtesy of Panos Pictures
Image courtesy of Panos Pictures

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The state investment fund is launching Chinese companies into overseas markets where they pick up assets abandoned by Western and African companies

The China-Africa Development Fund’s expansion plans moved a step forward with the opening of a new branch in Addis Ababa, Ethiopia, on 30 March. The office will pursue greater cooperation with the African Union, also headquartered in the city. CADF’s chief representative in Ethiopia is Wang Yong, who was Managing Director of CADF’s Eastern Africa Investment Department in Beijing. The Fund opened its first overseas branch in Johannesburg, South Africa, in March 2009, giving it a listening post in the continent’s largest economy. A third office is planned for Zambia. CADF executives have scoured the continent for investment opportunities. But while the Fund had more than 100 projects under study in 2008, no more than 20 deals have been signed since then.


CADF in Africa: Deals from 2007-2008

The first cooperation agreement signed by the China-Africa Development Fund was with the Tianjin North China Geological Exploration Bureau, a state-run mining enterprise, in Decemb...


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 equ...


Wanted: special partners

Delhi offers cooperation, capacity building and, of course, cash in the unspoken competition with China for African hearts, minds and resources

India plans to increase its annual trade with Africa to US$70 billion – up from current levels of $45 bn. – over the next five years. That is an exponential increase from the $5.2 ...


More ore, more problems

A US$3.3 million loan offered by the China International Fund has drawn renewed criticism of the company’s activities in Guinea. On 1 March, Abdoulaye Yéro Baldé, a member of Mouve...


Nuctech’s nobody

Why won’t anyone help Yang Fan pay his US$135,000 bail bond – especially when he has $2.3 million stashed in a local bank account and a swish golf estate home in Cape Town, South A...



Pointers

Jia Qinglin

Chairman, Chinese People’s Political Consultative Conference (CPPCC): An emissary from the ‘Shanghai clique’

Jia Qinglin, the number four in China’s leadership, has just completed his second tour of African nations. At each stop, Jia sought to build ties with presidents and legislative le...


Lee Myung-bak

President, South Korea

Lee Myung-bak has kept Africa high on his agenda and has continued his predecessor’s Africa-friendly policies. A second Korea-Africa Economic Cooperation Conference was held in 200...


Stephen Shu-hung Shen

Environmental Protection Administration Minister, Taiwan

While the cosy ties between Beijing and Taipei make headlines, Taiwan’s Environmental Protection Agency has become a surreptitious agent of foreign policy. More surprisingly, the A...


Mahmoud Mohieldin

Former Minister of Investment, Egypt. A Managing Director of the World Bank Group

Egypt’s Minister of Investment has shown unusual initiative in tackling the country’s long-running budget deficit. Mahmoud Mohieldin has knocked on doors throughout Asia in search ...