In furtherance of its plan to invest in projects across the African continent,
Investec Asset Management has signed a memorandum of understanding with China-Africa Development Fund (CADFund).
The CADFund is Beijing’s main platform for facilitating Chinese investment in Africa with AuM of around $10 billion.
The partnership involves sharing
investment ideas and opportunities, aims to tap on Investec’s position
as one of the largest active private sector investors across the African
continent.
investment ideas and opportunities, aims to tap on Investec’s position
as one of the largest active private sector investors across the African
continent.
CAD Fund focuses on being the bridge between Chinese and African enterprises.
Through its partnership with Investec,
CADFund will look to invest in projects across the Africa continent
spanning opportunities across diverse sectors including agriculture,
infrastructure and manufacturing, and including public-private
partnerships.
CADFund will look to invest in projects across the Africa continent
spanning opportunities across diverse sectors including agriculture,
infrastructure and manufacturing, and including public-private
partnerships.
John Green, deputy CEO at Investec, said
this partnership is a positive and concrete example of how the private
sector can collaborate in helping to drive productive investment into
Africa.
this partnership is a positive and concrete example of how the private
sector can collaborate in helping to drive productive investment into
Africa.
“Outcomes (of the investments) include
not only furthering China-Africa trade cooperation, cross border capital
flow and the development of the continent’s economy, but also the
creation of positive social outcomes,” said Green.
not only furthering China-Africa trade cooperation, cross border capital
flow and the development of the continent’s economy, but also the
creation of positive social outcomes,” said Green.
Through its partnership with Private
Infrastructure Development Group (PIDG) and together with the UK
Government through the Department for International Development,
Investec has invested in over 60 projects with total investment
of $1.2bn of capital.
Infrastructure Development Group (PIDG) and together with the UK
Government through the Department for International Development,
Investec has invested in over 60 projects with total investment
of $1.2bn of capital.
Zhou Chao, vice-president of CADFund,
said the new partnership highlights the “huge potential” for investments
in Africa. “We are optimistic about being able to effectively identify
project opportunities that are of common interest,”
he added.
said the new partnership highlights the “huge potential” for investments
in Africa. “We are optimistic about being able to effectively identify
project opportunities that are of common interest,”
he added.
London-listed Investec is the first
private sector company to sign such an agreement with CAD Fund in a
partnership that comes only days after the Forum on China-Africa
Cooperation in Beijing earlier this week, during which China’s
president Xi Jinping announced a $60bn funding package to aid Africa’s
development.
private sector company to sign such an agreement with CAD Fund in a
partnership that comes only days after the Forum on China-Africa
Cooperation in Beijing earlier this week, during which China’s
president Xi Jinping announced a $60bn funding package to aid Africa’s
development.
