Two Chinese investment funds, investing in Africa and Latin America, to form a merger
Monday, 25 February 2019 16:23
Chinese media Caixin announced the merger of China-Africa Fund for Industrial Cooperation (Cafic) and China-Latin America and Caribbean Industrial Cooperation Investment Fund (Clacicif).
This operation is aimed at supporting Chinese firms investing in Latin America and Africa. The two funds will continue their respective operations without changing names but their investment decisions will be handled by the new entity created.
This entity will be established by the State Administration of Foreign Exchange (SAFE), a sovereign fund that owns most of the two funds’ equity.
The two funds do not have many employees and the market is not that big either. “The merger has always been foreseeable”, one of SAFE’s management indicated to the media.
The SAFE currently manages three investment funds that support projects implemented by China in the framework of the Silk Road.
According to Caixan, Chinese firms invested $15.64 billion in the non-financial sector in 56 countries involved in the One Belt One Road project aimed at linking China to Europe through Africa.
Chamberline Moko
Live News
-
Mauritania Moves to Digitize National Exams to Improve Transparency
04:19
-
World Bank Considers Financing Uganda’s Long-Delayed Standard Gauge Railway
04:16
-
Mali's New Fuel Stockpile: 45 Days of Buffer Against a Longer Crisis
04:12
-
EBID Charts Green Shift to Finance West Africa’s Growth
04:04
-
IMF appoints Mauritania’s Zeidane to head Africa Department
18:56
-
BCEAO sets June 30 deadline for operators to join instant payment platform
18:52
-
Cameroon higher education group plans microfinance bank for student startups
18:34
-
Internet Freedom in Africa Remains Uneven in 2026 Despite Rising Access
18:30
-
Cameroon Delivers Tractors to Agropoles to Scale Production and Agro-Processing
18:28
-
Togo receives CFA1.6B Chinese rice donation to support food security
15:01
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...
West African Development Bank plans CFA6,500 billion ($11.5 billion) in financing for 2026–2030. ...
Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...
West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...
Project targets reduced errors, better traceability and fairness Initiative part of broader government digital transformation efforts Mauritania is...
Uganda seeks World Bank support for $3 billion railway project Funding aims to revive delayed Kampala–Malaba standard gauge line Project...
Since September 2025, Mali has been facing an unprecedented fuel supply crisis, triggered by a blockade of fuel tanker convoys imposed by the jihadist...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projects by 2030. In a West Africa facing rapid demographic...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...