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China-Africa Development Fund Sponsored 90 projects of $20 billion in 36 African nations since 2007

Beijing,Aug. 24: The China-Africa Development Fund, CAD Fund, whose role is to finance major Chinese investments in Africa, has so far positively impacted the lives of a million people on the continent since its inauguration in 2007. The institution, which is China’s first and largest equity investment fund with focus on Africa, has in 10 years sponsored 90 projects worth 20 billion US dollars in 36 African nations.

20 billion US Dollars invested in Africa

The disclosure was made in the Chinese capital, Beijing on August 22 during a visit to CAD Fund’s headquarters by 27 African journalists. According to Wang Yong, CAD Fund’s vice president, China’s direct investments in Africa totaled 20 billion US dollars in the past 10 years. Some 2 billion US dollars was generated in local exports, 1 billion US dollars collected as tax revenue, while a million Africans benefitted from the 90 projects.

Wang Yong said his institution was most interested in supporting joint large-scale projects by African and Chinese entrepreneurs. He noted that projects have even been sponsored in African countries that do not have diplomatic relations with China. The CAD Fund vice president said the objective was to boost capacity for self-development in project host countries.

Financing interests

With a capital of 10 billion US dollars, CAD Fund, which is under the China Development Bank, focuses on four main areas – agriculture and livelihoods, energy and minerals, building industrial capacity, and infrastructure development. It has also played a major role in setting up Chinese-driven industrial parks in Africa.

CAD Fund projects are guided by the principle of development finance and are also based on requests by African countries. It offers both financing and consulting services to Chinese companies investing in Africa. “CAD Fund is always more than willing to provide support for projects from governments, institutions and companies in Africa to realize our win-win goals,” Wang Yong stated.

Why Africa?

Jiang Lin, CAD Fund deputy director general in charge of operations management, said the institution was created in June 2007 because of China’s confidence in Africa, the continent’s great potentials, large youth population, consuming middle class numbering 370 million, and annual economic growth of 2 per cent. As Africa’s largest trade partner, Chinese investments on the continent are expected to hit 100 billion US dollars by 2020, Jiang Lin predicted.

In order to ease operations on the field, CAD Fund maintains five regional offices in Africa – Ethiopia, Ghana, Zambia, Kenya and South Africa. Unlike commercial banks that only fund projects, CAD Fund also participates in the management of the projects it finances. Jiang Lin said CAD Fund does not only bring capital, but also foreign enterprises and technology to make projects more sustainable. 

Comprehensive strategic partnership

Chinese President Xi Jinping in 2013 chose Africa for his first foreign trip since coming to power. He used the occasion to present sincerity, real results, affinity and good faith as guidelines for China’s African policy. Premier Li Keqiang in 2014 visited Africa and drew the blueprint for China-Africa cooperation.

At the 2015 FOCAC summit in Johannesburg, South Africa, President Xi proposed that the China-Africa strategic partnership be upgraded to a comprehensive strategic and cooperative partnership. He then put forward China’s cooperation plans, thus marking the beginning of a new phase in China-Africa relations, Wang Yong said.

*Kimeng Hilton Ndukong, a contributor to People’s Daily Online, is Sub-Editor for World News with Cameroon Tribune bilingual daily newspaper in Cameroon. He is currently a 2017 China-Africa Press Centre, CAPC fellow. 

China to build Africa's tallest skyscraper in Rabbat,Morocco

Beijing, July 24: A Chinese firm, China Railway Construction Corporation (CRCC) along with Morocco's BMCE Bank of Africa and Travaux Generaux de Construction de Casablanca, Morocco's leading construction company, have signed a deal with local companies to build Africa's tallest skyscraper in the Moroccan capital, Rabat, China's CCTV reported on July 24, 2017. The 55-story tower will be 250 meters tall and use ecological and sustainable design concepts. 
 
China to build Africas tallest skyscraper in Rabbat Morocco 1
It will house offices, hotels and luxury apartments, according to the report. The tower will be the highlight of a large-scale project to develop the Bouregreg Valley in Rabat, a key component of the 2014-2018 Integrated Development Program dubbed "Rabat, City of Light, Moroccan Cultural Capital." The new project also involves the construction of several innovative facilities, including the Grand Theater of Rabat, the Arts and Culture House, the National Archives of the Kingdom of Morocco and the Archaeological Museum.
Source: CCTV

Ethiopia Aims to Build Development Belt along Ethiopia-Djibouti Railway: Minister

ADDIS ABABA, July 23: Ethiopia aims to build along the Ethio-Djibouti electrified railway a development belt attracting investment, particularly in the manufacturing sector, Ethiopia's transport minister has said. Speaking to Xinhua on Saturday, Ahmed Shide, Minister of Ethiopia's Ministry of Transport, said the under-construction Dire Dawa and Adama Industrial parks, as well as the planned Ayisha Industrial Park, which lie on the path of the rail line in particular, are the focus of the development belt. Dire Dawa and Adama Industrial Parks, 446 km and 99 km East of Ethiopia's capital Addis Ababa, are both being built by China Civil Engineering Construction Company (CCECC).

Dire Dawa Industrial Park is being built at a cost 190 million U.S. dollars while Adama Industrial Park is being built at a cost 125 million dollars.

"The Industrial parks lying on the path of Ethio-Djibouti railway line will be a game changer for both counties and in general for the region, enhancing economic transformation in the region and helping in ease of transportation of goods," said Shide.

"The railway will not only be a transportation line but also be a development corridor facilitating investment particularly in manufacturing sector," he added.

The Ethio-Djibouti rail line spanning 756 km connecting landlocked Ethiopia to Djibouti is expected to start commercial operations in October, according to Shide. The electrified rail line is expected to cut transportation time needed for goods to reach Djibouti port from the Ethiopian hinterland from at least two days to 10 hours. The rail line will also provide a passenger service, with an average speed of 120 km per hour and a single coach holding 118 passengers at a time. "The Ethio-Djibouti rail line in the future is envisioned to be part of a larger rail network connecting other parts of Africa through neighboring South Sudan and Sudan," said Shide.

Source: (Xinhua)

Tunis, July 12: Tunisia, a North African country, plans to join Silk Road for investment in infrastructure development, port construction, transport sector as the Belt and Road offers multi-lateral cooperation opportunities, says local news media.Tunis, July 12: Tunisia, a North African country, plans to join Silk Road for investment in infrastructure development, port construction, transport sector as the Belt and Road offers multi-lateral cooperation opportunities, says local news media.

The strategy for Tunisia's integration into the new Silk Road is based on a set of fundamentals including diplomatic and consular relations, infrastructure, relations in the transport and tourism sectors, and in particular investment.

thumbnail Tunisia Plans to Join Silk Road for Investment in Infrastructure Silk Road News

The strategy, the result of a study prepared by the Arab Institute of Business Leaders (IACE) on the occasion of the 5th edition of "Tunis forum 2017" held on July 2017 on the theme "Tunisia-China: A partnership for the future ", called for combating the illicit practices of making false declarations (false quantities, false prices and tariffs) and reviewing technical standards without turning them into non-tariff barriers.

In terms of investment, it was recommended to facilitate the installation of Chinese industrialists near the port of Zarzis to manufacture both for the local market and for export and accompany the Tunisians in the acquisition of Chinese equipment.

For infrastructure, the strategy recommended to involve, in the short term, the Chinese side in the achievement of the deep water port of Enfidha and the bridge of Bizerte.

It also proposed, in the long term, to involve China in the construction of the cable car linking Ain Drahem to Tabarka and to the extension and renovation of the rail network (Gabes, Tunisian-Libyan border).

Referring to the development of relations in the transport sector, the strategy recommended the establishment of a direct (twice-weekly) link to operate between Tunisair and China Southern Airlines and able to set up the E-Visa procedure.

With regard to the tourism sector, the strategy intends to include Tunisia in the European organised circuits offered by tour operators and the introduction of the electronic payment methods used by the Chinese to encourage the major Chinese hotel chains to form partnerships with Tunisian partners, in particular, in Djerba.

In order to boost Tunisian-Chinese diplomatic relations, the strategy advocates the long-term strengthening of Tunisia's diplomatic and consular presence in China and the establishment of relations with the Chinese provinces and not only with the central government.

It recommended Tunisia's presence on the Hong Kong financial centre.

The study presented indicated that the Tunisian balance of trade suffers from a chronic deficit with an amount which reached, during the first five years 2017, 6.475 million dinars (MD).

80% of this deficit is concentrated in ten countries with the leading group of China, Russia and Turkey, which account for 52% of the deficit.

For the year 2015, trade between Tunisia and China registered a deficit of about 3.263 MD, accounting for almost a third of the trade deficit.

Exports to China represent only 0.2% of Tunisian exports.

Tunisian imports from China represented 8.4% of Tunisia's total imports, with a clear predominance of electrical machinery, equipment and equipment (56%) and fairly balanced between metals and metalwork (10%) and textiles and textile fabrics (10%).

https://www.tap.info.tn/en/Portal-Economy/9180754-integrating-tunisia

China's Jack Ma Says Africa has Potential to Have E-commerce Bigger than Europe and U.S.

KIGALI, July 22 Chinese billionaire entrepreneur Jack Ma on Friday advised African youth entrepreneurs to think out of the box and create a bigger e-commerce on the continent. He made the remarks while delivering his keynote address at the inaugural of YouthConnekt Africa Summit in the Rwandan capital Kigali that focuses on promoting job creation through entrepreneurship and skills development among the youth in Africa. "Africa is a home and solution for inclusive economy that the world needs. Think big and think about future. You have a great potential, the future of e-commerce in Africa is bigger than Europe and U.S.," said Ma, founder of Chinese e-commerce giant Alibaba.
 
"Think big for the future. It took me 18 years to build e-commerce, but it could take you 5 to 8 years to build e-commerce in Africa since the continent has already laid a conducive environment for you to thrive," said the special advisor of the United Nations Conference on Trade and Development (UNCTAD). He said that African entrepreneurs should learn from failure. "Africa has to get used to failure. If you can't, then how can you win?" The three-day summit is organized by the government of Rwanda, United Nations Conference on Trade and Development (UNCTAD) and UNDP. The summit from July 19 to 21 is dubbed: "Realizing Africa's Youth Potential."
 
Africa has potential to have e commerce bigger than Europe and U.S Says Jack Ma 3
 
It has attracted over 3,000 participants including top executives from multinational companies, leaders of civil society organizations, Africa's development partners, members of the academia and youth entrepreneurs from 90 countries across Africa and beyond to interact and discuss on enhancing the potential of the youth in Africa, according to the organizers.
 
At the summit, Ma announced four projects to support African entrepreneurs, African young people and efforts of conservation in Africa. The four projects are supporting 200 African entrepreneurs in the next five years, working with universities and governments to develop training program for African young people on e-commerce and cloud computing, setting up a conservation award for conservation rangers and donating 10 million U.S. dollars to establish a young entrepreneurs development fund.
Source: (Xinhua)

ADDIS ABABA, July 11 (Xinhua) :Ethiopia is to inaugurate two Chinese built industrial parks in September, as the East African nation strives to become the continent's manufacturing hub.

The statement was made on Monday by Tadesse Haile, state minister of economic affairs at the office of the Ethiopian Prime Minister Hailemariam Desalegn.

thumbnail Ethiopia Africa

The two industrial parks are the Dire Dawa Industrial park 446 km East of Ethiopia's capital city Addis Ababa and the Adama Industrial Park 99 km East of Addis Ababa. Dire Dawa Industrial Park and Adama Industrial parks are both being built by China Civil Engineering Construction Company (CCECC) at a cost of 190 million and 125 million U.S. dollars respectively.

Both industrial parks are primarily aimed at fulfilling Ethiopia's ambitions to be a textile and apparel manufacturing hub in Africa earning the country one billion U.S. dollars by 2020 and providing ample employment opportunity for its estimated 45 million workforce.

Li Zhiyuan, Deputy Project Manager at CCECC on his part says industrial parks are a means for Ethiopia to enhance local employment, increase investment attractiveness and boost its competitive advantage.

All is now set for the commissioning of the 494 million USD 6 billion cubic-metre capacity reservoir dam in Cameroon’s East Region constructed by a Chinese firm, China Water and Electric Group. The temporary handover of the completed facility, whose construction began in 2012, held on Friday, June 30, 2017 at the site of the dam. The project was jointly funded by the World Bank, French Development Agency, African Development Bank, Development Bank of Central African States, and the European Investment Bank.

Empowering Africa

SIGNING OF PAPERS

Amongst those who signed documents attesting to the completion of work on the dam was Georges Gwet, the Project Supervisor representing Electricity Development Corporation, EDC, Zi Chaoliang for China Water and Electric Group, Anton Mitev from the Coyne and Bellier/ISL, the French oversight engineering firm, and Jean Edjidji, representing the Ministry of Public Contracts. The temporary handover of the dam followed the visit to the site of an inter-ministry committee on May 31, 2017.

GREAT EXPECTATIONS

Lom Pangar Hydropower Project is expected to increase hydropower generation capacity, reduce seasonal variability of water flow in the Sanaga River and increase access to electricity. The dam is 46 meters high and 7 meters wide at the crest and is composed of a central overflow section with embankment wings and a saddle dam. The Lom Pangar Power Plant and Transmission Line 30 MW hydropower plant consists of four Francis turbines constructed at the foot of the dam.

TECHNOLOGY TRANSFER

The power plant will be connected through a 105 kilometer 90 kV transmission line to the existing Eastern Network at Bertoua. “All outstanding issues have been resolved. Both the Electricity Development Corporation team and those who managed the emergency thermal plant were trained in China for almost two years on how to produce dam spare parts and install them in Cameroon,” Georges Gwet said at the event.

The ceremony witnessed a demonstration by Cameroonian technicians and engineers on how to manage the dam, especially controlling water level and releasing water downstream for electricity generation at the Song Loulou Hydro-dam Station. This assured anyone who still had doubts that the Chinese had indeed ensured the transfer of knowhow and technology to Cameroonians.

FOUNDATION STONE LAID IN 2012

Cameroon’s President Paul Biya laid the foundation stone for the construction of the dam on August 3, 2012. “… the energy shortage our country is witnessing remains an impediment to development. In many ways, the lack of energy is detrimental to many sectors of our economy. Our industries, agriculture or even the tertiary sector are recording growth rates which remain below par, for the type of modern and dynamic economy that we want,” Biya told the crowd at the event.

He continued: “By laying the foundation stone of the 6 billion m3 capacity reservoir dam, we will be able to regulate the flow of the River Sanaga and, in the medium term, boost the production capacity of existing power plants such as Edea and Song Loulou and, in the long run, complete hydropower development on this major river. I am referring to the construction of several facilities on the watershed downstream of the River Sanaga such as Nachtigal, Song Mbengue and many others. Electricity shortage will then become a thing of the past,” the Cameroonian explained.

OTHER PROJECT DIVIDENDS

The advent of the Lom Pangar dam brings along a number of other benefits to local people apart from increased power generation. These include job creation, development of business activities, establishment of the Deng Deng National Park in May 2010 for the protection of great apes displaced from the dam area, payment of compensation to villagers who lost land and their resettlement in a new modern village. Others are the construction of access roads and a bridge over River Lom.

“Indeed, in man’s endeavour to control the forces of nature for developmental purposes, he has, by harnessing hydroelectric power, made a decisive step towards modernity. That is why this day (August 3, 2012) will have a special place in the annals of our country’s development,” President Paul Biya said almost five years ago. And that wish became reality on June 30, 2017, thanks to the efficient construction carried out by Chinese firm, China Water and Electric Group. 

Source by: en.people.cn

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