Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Finance

Two Chinese investment funds, investing in Africa and Latin America, to form a merger

Monday, 25 February 2019 16:23
Two Chinese investment funds, investing in Africa and Latin America, to form a merger

(Ecofin Agency) - 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





 
Mining


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.