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Sovereign Wealth Fund
cadfund.com

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Investments

5

Portfolio Exits

1

Funds

1

About China-Africa Development Fund

China-Africa Development Fund, aka CADFund, is a sovereign wealth fund that aims to encourage and support Chinese enterprises to invest in Africa. CADFund has invested in agriculture, infrastructure, manufacturing, industrial park, resource development, etc.

China-Africa Development Fund Headquarter Location

F10/F11, Tower C, Chemsunny World Trade Center No.28 Fuxingmennei

Beijing, Beijing, 100031,

China

+86 010-59892800

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Latest China-Africa Development Fund News

China-Africa cooperation bearing rich fruit

Sep 8, 2021

Date: 09 Sep 2021 At a landmark summit three years ago, President Xi Jinping and African leaders drew an ambitious blueprint for China-Africa cooperation, with Xi proposing eight major initiatives. Three years on, China-Africa friendship and cooperation have grown even deeper and closer, and the grand plan is turning into reality, bearing rich fruit across the African continent. A total of 5,000 jobs and a 15-fold increase in customs revenue were generated by Kribi deep-sea port, the first deep-water port in Cameroon, said Alain Patrick Mpila Ayissi, director of planning and environment at the port. The port, established in March 2018 and built by China Harbour Engineering Company (CHEC), is jointly operated by China, France and Cameroon, with its second phase to be completed in 2023. "Cameroon is on the fast track of development, and China is accompanying it," Ayissi said. With the port, Kribi has become a thriving city with an expanding population. "This is now really a modern port, and it will benefit future generations," said Armand Guehoada, who joined CHEC eight years ago. "I started with human resources management, and have now become an import and export salesman. I am quite comfortable with my life." In 2017, the Xinjiang Institute of Ecology and Geography (XIEG) of the Chinese Academy of Sciences signed a memorandum of understanding with the Pan-African Agency for the Great Green Wall on promoting the ecological environment in Africa. The "Great Green Wall" initiative, launched in 2007 and led by the African Union, plans to build a shelterbelt spanning more than 8,000 kilometers across Africa, from Senegal in the west to Djibouti in the east, in order to prevent the Sahara Desert from expanding southward. Zhou Na, an assistant researcher at the XIEG, and her colleagues have traveled back and forth between the Taklamakan Desert and the Sahara Desert to share their experiences. She said it is her wish to "bring China's experience to the Sahara, promote green development and improve the livelihoods of African people". In recent years, she and her colleagues have adopted different strategies according to local conditions such as sand control and quicksand fixation technology in Mauritania, ecological restoration of shrub grassland in Ethiopia, and technical support for sustainable management and protection of a shelterbelt in Nigeria. Mohamed El Houssein Mohamed Legraa, director of the National Agency of the Great Green Wall of Mauritania, spoke highly of China's technical support. "The Chinese are ahead in the fight against desertification. They have turned deserts into forests," he said. "Here in Mauritania, we are suffering from desertification, low rainfall and the impact of climate change. Therefore, we need Chinese experience very much." "The hut has been replaced with a concrete house, and furniture and household appliances have been added. I have made a decent living by planting rice in Wanbao," farmer Milagre Abel Massingue said proudly of the dramatic changes in his life. Located in the Xai-Xai district of the southern Mozambican province of Gaza, the Wanbao Mozambique rice farm, invested by the China-Africa Development Fund, is China's largest project of its kind in Africa. With vast arable land, a favorable climate, abundant water resources and support from China, the project is scheduled to cover 20,000 hectares (20 square km). Massingue, one of the more than 500 contractors, joined the Wanbao project five years ago by contracting for two hectares of land. He said he can at least double the output nowadays with Chinese technology. "The Chinese government has been supporting Mozambique and this project has enhanced our traditional friendship," said Dalilo Latifo, provincial director of Agriculture and Rural Development. The project, added Latifo, effectively promoted the vitality of local agricultural production and will strongly boost the agricultural development of Mozambique. Concilia Owire was one of the first seven women drivers recruited by the Mombasa-Nairobi Standard Gauge Railway (SGR), Kenya, and witnessed the opening ceremony of the railway. For her, operating a locomotive under the gaze of her country's president is the "best memory" of her life. In May 2017, the Mombasa-Nairobi Railway, which was built and operated by China Road and Bridge Corporation, was officially opened to traffic. The railway connects Mombasa, the largest port city in East Africa, and Nairobi, the capital of Kenya, with a total length of about 480 km. It is the first railway built since Kenya's independence, shortening the journey between the two cities from 10 hours to five hours. In December 2019, the first phase of the Mombasa-Nairobi Railway extension line was completed and opened to traffic. Owning a modern railway had long been a dream of the Kenyan people. This is the beginning of the transformation which will create jobs, hope, opportunities and prosperity for all Kenyans, Kenyan President Uhuru Kenyatta said during a test ride. Traveling on the Mombasa-Nairobi Railway, Owire also caught the "express train" of her career. She has been successfully promoted to a driving instructor, responsible for training students, and her Chinese language proficiency has also improved. As a landmark project of Belt and Road cooperation between China and Kenya, the Mombasa-Nairobi SGR created more than 30,000 jobs during the construction period alone, and contributed 1.5 percentage points to Kenya's economic growth. Owire said she believes the Mombasa-Nairobi SGR will help revitalize the logistics industry in Kenya and promote economic development in East Africa. "I believe Kenya's railway network will get better and better in the future, just like China's railway network," she said. Source: China Daily Disclaimer The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.

China-Africa Development Fund Investments

5 Investments

China-Africa Development Fund has made 5 investments. Their latest investment was in Xiaoguo as part of their Series A - II on September 9, 2021.

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China-Africa Development Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/6/2021

Series A - II

Xiaoguo

Yes

1

11/1/2019

PIPE

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$99M

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10

8/2/2017

Series C

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10

11/23/2015

Series B

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$99M

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10

1/12/2011

Growth Equity - III

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$99M

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10

Date

9/6/2021

11/1/2019

8/2/2017

11/23/2015

1/12/2011

Round

Series A - II

PIPE

Series C

Series B

Growth Equity - III

Company

Xiaoguo

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Amount

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

10

10

China-Africa Development Fund Portfolio Exits

1 Portfolio Exit

China-Africa Development Fund has 1 portfolio exit. Their latest portfolio exit was Huayou Cobalt on January 29, 2015.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/29/2015

IPO

1

Date

1/29/2015

Exit

IPO

Companies

Valuation

Acquirer

Sources

1

China-Africa Development Fund Fund History

1 Fund History

China-Africa Development Fund has 1 fund, including China-Africa Development Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/11/2011

China-Africa Development Fund

Diversified Private Equity

Open

$3,000M

1

Closing Date

1/11/2011

Fund

China-Africa Development Fund

Fund Type

Diversified Private Equity

Status

Open

Amount

$3,000M

Sources

1

China-Africa Development Fund Team

1 Team Member

China-Africa Development Fund has 1 team member, including current President, Jianxin Chi.

Name

Work History

Title

Status

Jianxin Chi

President

Current

Name

Jianxin Chi

Work History

Title

President

Status

Current

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