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
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...
Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
Authorities set September 2027 as the date for Madagascar’s next presidential election under the Refoundation program. The roadmap outlines three...
Only 36% of Africans view Russia’s economic and political influence as positive, while 23% rate it negative, according to Afrobarometer. China...
The government mobilized 300 million dirhams ($33 million) to support farms hit by floods in the Gharb and Loukkos irrigated areas. Authorities...
Vodafone expands Amazon LEO satellite partnership in Africa Satellites to backhaul mobile base stations to core network Move targets rural...
Rwanda’s capital immediately impresses visitors with its striking cleanliness and orderly layout, qualities that frequently set it apart from other cities...
More than 500 media leaders gathered in Nairobi on Feb. 25–26 for the fourth African Media Festival under the theme “Resilient Stories: Reinventing...