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{{Short description|Chinese sovereign fund}}
{{Infobox organization
{{Infobox company
| name = China-Africa Development Fund
| name = China-Africa Development Fund
| bgcolor = <!-- header background color -->
| fgcolor = <!-- header text color -->
| image = CADfund logo.png
| image = CADfund logo.png
| image_border =
| size = <!-- default 200px -->
| alt = <!-- alt text; see [[WP:ALT]] -->
| caption =
| caption =
| map = <!-- optional -->
| msize = <!-- map size, optional, default 250px -->
| malt = <!-- map alt text -->
| mcaption = <!-- optional -->
| map2 =
| abbreviation =
| motto =
| predecessor =
| predecessor =
| successor =
| successor =
| formation = {{Start date and years ago|2007|06|26}}<ref name=CADoverview>{{cite web|title=Company Overview|url=http://www.cadfund.com/en/NewsInfo.aspx?NId=48|work=CAD Fund website|publisher=CAD Fund|accessdate=22 February 2012}}</ref>
| foundation = {{Start date and years ago|2007|06|26}}<ref name=CADoverview>{{cite web|title=Company Overview|url=http://www.cadfund.com/en/NewsInfo.aspx?NId=48|work=CAD Fund website|publisher=CAD Fund|access-date=22 February 2012|archive-url=https://web.archive.org/web/20131114061916/http://www.cadfund.com/en/NewsInfo.aspx?NId=48|archive-date=14 November 2013|url-status=dead}}</ref>
| extinction = <!-- date of extinction, optional -->
| type =
⚫
| location = [[Beijing]], China
| type = <!-- [[Governmental organization|GO]], [[Non-governmental organization|NGO]], [[Intergovernmental organization|IGO]], [[International nongovernmental organization|INGO]], etc -->
⚫
| area_served = China, [[Africa]]
| status = <!-- ad hoc, treaty, foundation, etc -->
| key_people = Zhao Jianping (Chairman)<br/>Chi Jianxin (President)
| purpose = <!-- focus as e.g. humanitarian, peacekeeping, etc -->
| parent =
| headquarters = Chemsunny World Trade Centre, [[Chang'an Avenue]]
⚫
| location = [[Beijing]], [[Peoples Republic of China]]
⚫
| region_served = [[Africa]]
| language = [[Mandarin Chinese]] <br> [[English language|English]] <br> [[French language|French]]
| general = <!-- Secretary General -->
| leader_title = President
| leader_name = Chi Jianxin (迟建新)
| leader_title2 = Chairman
| leader_name2 = Zhao Jianping (赵建平)
| leader_title3 =
| leader_name3 =
| leader_title4 =
| leader_name4 =
| key_people =
| main_organ = <!-- gral. assembly, board of directors, etc -->
| parent_organization = <!-- if one -->
| affiliations = <!-- if any -->
| budget =
| budget =
| num_staff =
| num_volunteers =
| website = [http://www.cadfund.com www.cadfund.com]
| website = [http://www.cadfund.com www.cadfund.com]
| remarks =
| remarks =
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}}
}}


The '''China-Africa Development Fund''', more commonly known as '''CAD Fund''', is a [[People's Republic of China|Chinese]] [[investment fund]] focusing on stimulating and facilitating Chinese investments in [[Africa]]. It is China's largest [[private equity]] fund focusing on African investments.<ref name=CADoverview/>
The '''China-Africa Development Fund''' ({{Lang-zh|c=中非发展基金}}), more commonly known as '''CAD Fund''', is a [[China Government Guidance Fund]] solely funded by [[China Development Bank]], a Chinese government policy bank. The aim of the fund is to stimulate investment in Africa by Chinese companies in power generation, transportation infrastructure, natural resources, manufacturing, and other sectors.

==Focus==
CAD Fund's primary purpose is to serve Sino-African trade cooperation through [[market-based]] mechanisms by reducing risk to Chinese investors in Africa. It does this by providing bridging finance, financial advice, Africa specific managerial advice, and identifies potential investment opportunities. It also helps African projects find suitable Chinese investment partners. It aims to invest in low risk projects which provide sustained and consistent returns over a long period of time. This is partly done with the objective of helping Chinese firms operating in Africa to expand their [[market share]], get closer to end [[consumers]], or secure [[natural resources]].<ref>{{cite web|title=Investment Philosophy|url=http://www.cadfund.com/en/NewsInfo.aspx?NId=400|publisher=CAD Fund|accessdate=22 February 2012}}</ref>


==History==
==History==
The creation of CAD Fund was announced as one of the "Eight Measures" for [[Sino-African relations]] at the Beijing summit of the [[Forum on China-Africa Cooperation]] (FOCAC) by President [[Hu Jintao]] on November 4, 2006. It was established in June 2007 with [[US$]]1 billion of initial funding by the [[China Development Bank]] and is envisioned to grow to US$5 billion in the future.<ref name=CADoverview/> The fund entered into its second round of fundraising in May 2010 to raise US$2 billion.<ref name=ChinaDaily>{{cite web|last=Yan|first=Zhou|title=CAD Fund to boost footprint in Africa|url=http://www.chinadaily.com.cn/bizchina/2010-05/28/content_9903203.htm|publisher=[[China Daily]]|accessdate=22 February 2012|date=28 May 2010}}</ref>
The creation of CAD Fund was announced as one of the "Eight Measures" for [[Sino-African relations]] at the Beijing summit of the [[Forum on China-Africa Cooperation]] (FOCAC) by President [[Hu Jintao]] on November 4, 2006. It was established in June 2007 with [[US$]]1 billion of initial funding by the [[China Development Bank]] and is envisioned to grow to US$5 billion in the future.<ref name=CADoverview/> The fund entered into its second round of fundraising in May 2010 to raise US$2 billion.<ref name=ChinaDaily>{{cite web|last=Yan|first=Zhou|title=CAD Fund to boost footprint in Africa|url=http://www.chinadaily.com.cn/bizchina/2010-05/28/content_9903203.htm|publisher=[[China Daily]]|access-date=22 February 2012|date=28 May 2010}}</ref> In 2015, China announced its plan to expand the CAD fund to $10 billion.<ref>{{Cite book |last=Murphy |first=Dawn C. |url=https://www.worldcat.org/oclc/1249712936 |title=China's rise in the Global South : the Middle East, Africa, and Beijing's alternative world order |date=2022 |isbn=978-1-5036-3060-4 |location=Stanford, California |pages=74 |oclc=1249712936}}</ref>


==Investments==
==Investments==
The fund's primary purpose is foster Sino-African investment through bridging finance, financial advice, Africa specific managerial advice, and identification of potential investment opportunities as well as connecting African projects to Chinese investors.
⚫
As of 2010 the fund had invested in 30 projects in Africa worth around US$800 million. In 2009 alone, the fund invested US$140 million of China's total US$1.3 billion invested in Africa that year.<ref name=ChinaDaily/> The fund is focused on industrial development and the acquisition of stakes in mining interests such as its joint purchase with [[China Guangdong Nuclear Power Group]] for [[Rio Tinto Group|Rio Tinto]]'s 11.1% share in [[Kalahari Minerals]] valued at US$996 million in February 2012.<ref name=WSJ>{{cite web|last=Stewart|first=Robb M.|title=Rio Tinto Accepts Chinese Bid for Kalahari Shares|url=http://online.wsj.com/article/SB10001424052970204740904577195961601888798.html|publisher=[[Wall Street Journal]]|accessdate=22 February 2012}}</ref> The fund in 2010 teamed up with several partners by contributing 382.5 million [[South Africa Rand|ZAR]] into a 1.65 billion ZAR investment by [[Jidong Cement]] to build a cement plant in [[Limpopo]], [[South Africa]].<ref name=jidong>{{cite news|title=China seals cement deal with S Africa|newspaper=The Financial Times|date=May 13, 2010}}</ref>

⚫
As of 2010 the fund had invested in 30 projects in Africa worth around US$800 million. In 2009 alone, the fund invested US$140 million of China's total US$1.3 billion invested in Africa that year.<ref name=ChinaDaily/> The fund primarily focused on industrial development. For example, in 2010 it teamed up with several partners by contributing 382.5 million [[South African Rand|ZAR]] into a 1.65 billion ZAR investment by [[Jidong Cement]] to build a cement plant in [[Limpopo]], [[South Africa]].<ref name=jidong>{{cite news|title=China seals cement deal with S Africa|newspaper=The Financial Times|date=May 13, 2010}}</ref>

The fund has also participated in acquiring natural resource assets by forming a joint venture with [[China National Nuclear Corporation]] (then China Guangdong Nuclear Power Group) to acquire most of the [[Husab Mine]] for US$996 million in February 2012.<ref name=WSJ>{{cite news|last=Stewart|first=Robb M.|title=Rio Tinto Accepts Chinese Bid for Kalahari Shares|url=https://www.wsj.com/articles/SB10001424052970204740904577195961601888798|newspaper=[[The Wall Street Journal]]|date=February 2012|access-date=22 February 2012}}</ref>

The fund made a rare move in media in December 2013 when it was the financial partner in the acquisition of 20% of [[Independent Online (South Africa)|Independent News and Media SA]], a newspaper publishing house in South Africa, for 400 million ZAR.<ref name="MGwr">{{cite web | url=http://mg.co.za/article/2014-08-28-whats-black-and-white-and-in-the-red-all-over | title=What's black and white and in the red all over? | publisher=[[Mail and Guardian]] | date=28 August 2014 | access-date=8 September 2014 | author=Sam Sole and Craig Mckune}}</ref>

=== List of equity investments ===
* [[China-Africa Xinyin Investment]] (35%)
* [[Huayou Cobalt]] ({{SSE|603799}}, 7.59%)<ref>[http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2017-03-04/603799_20170304_1.pdf 华友钴业关于公司股东中非发展基金减持股份计划的公告] (in Chinese)</ref>
* [[Africa World Airlines]]<ref>{{Cite web | url=https://www.atqnews.com/ng/ghanas-leading-carrier-africa-world-airlines-takes-delivery-of-7th-aircraft/ |title = Africa: Ghana's leading carrier, Africa World Airlines takes delivery of 7th aircraft|date = 29 October 2018}}</ref>

== Grants and other activities ==
The China Africa Development Fund provides support in connection with the overseas [[Special economic zones of China|special economic zones]] that Chinese enterprises have established in Africa.<ref name=":0">{{Cite book |last=Murphy |first=Dawn C. |url=https://www.worldcat.org/oclc/1249712936 |title=China's rise in the Global South : the Middle East, Africa, and Beijing's alternative world order |date=2022 |publisher=Stanford University Press |isbn=978-1-5036-3060-4 |location=Stanford, California |pages=177 |oclc=1249712936}}</ref> Although the Chinese government generally takes a hands-off approach to the development of these zones, leaving it to Chinese enterprises to work with host countries to establish them, the CAD Fund provides support in the form of grants, loans, and subsidies.<ref name=":0" />

== Specific current involvement ==
The CAD Fund has completed over 60 projects, but also acts as a resource to organize the independent investments of Chinese firms. Sometimes these projects have very few funds directly from the 10 billion USD allocated for the CAD Fund, but benefit from the CAD Fund's logistical experience and monitoring in order for investments to flow with greater efficiency.

=== [[Ethiopia]] ===
The CAD Fund in Ethiopia targets agricultural and rural development.<ref>{{Cite journal |last1=Brautigam |first1=D. |last2=Tang |first2=X. |date=2012 |title=An overview of Chinese agricultural and rural engagement in Ethiopia. Development Strategy and Governance Division. |url=https://d1wqtxts1xzle7.cloudfront.net/41655743/ifpridp01185-libre.pdf?1453930872=&response-content-disposition=inline%3B+filename%3DAn_Overview_of_Chinese_Agricultural_and.pdf&Expires=1715563999&Signature=XppVyx87Gw2TiotJJjoIZT7GaRUCGYkVM2vib1Rq-VCh4SeLieEL2xs0R8g5lXOgPziAmWnvAVIrr2D~rob-yiCqSywyesfB-g2Lqmx6HRhgUZ2v5ajXQRUfs38mK87uSqXcXYotsYlHkqaXmyIApUeTpUT~YkoPqcDoe8BjgEayTiXwQUM2VeWSPAvvDqbDa2gLoRK3Zvh7ToO40lz6FSHuTrN8KCf2oHbmssrw88mf1yh6r-YA0OCaGeP5PR6BGJ1~jjXkP1nfh6kYDpwKxJO0qrU5RJJAwy~cP5eJpcxw81ZryoLEgZYQOraT2EW7BxJH0erYaGxQ-9NfJvvN9Q__&Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA |journal=International Food and Policy Research Institute |via=Google Scholar}}</ref> In 2009, in a joint venture with the Xinxiang Kuroda Mingliang Leather Co. Ltd, the CAD Fund invested roughly 27 million USD towards a large leather product factory close to Ethiopia’s capital, [[Addis Ababa]]. The Fund has also helped establish Ethiopia’s special economic zone in collaboration with Chinese companies called the Ethiopian Eastern Industrial Zone (EEIZ). Wherein several independent investment projects are undergoing with potential for large job creation for the local population.<ref>{{Cite journal |last1=Geda |first1=A. |last2=Meskel |first2=A.G. |date=2009 |title=Impact of China-Africa Investment Relations: Case Study of Ethiopia. |url=https://publication.aercafricalibrary.org/server/api/core/bitstreams/17b322ec-6c99-4798-a445-c335e4eeb99f/content |journal=African Economic Research Consortium |via=Google Scholar}}</ref>

=== [[Ghana]] ===
The Cad Fund's main investment in Ghana are power plant construction and developments. Most notable is the [[Sunon Asogli Thermal Power Station|Asogli]] power plant in [[Tema]].<ref>{{Cite thesis |last=Schickerling |first=E. J. |date=2012 |title=The role of the China Africa Development Fund in China's Africa policy (Doctoral dissertation, Stellenbosch: Stellenbosch University). |url=https://scholar.sun.ac.za/items/238179db-971c-409d-8866-ef1063ba37cc |journal=Stellenbosch University Press |via=Google Scholar}}</ref> This plant is the first private owned electricity producing plant in Ghana, using [[natural gas]].

=== [[Kenya]] ===
The CAD Fund helped organize over 16 million USD in investments towards [[Hydroelectricity|hydro-power plants]] as well as several infrastructure improvements. The fund will also support the organization of several Chinese firms with the construction of a large port in [[Lamu]] as a part of the Lamu Port Southern Sudan-Ethiopia Transport Corridor project ([[Lamu Port and Lamu-Southern Sudan-Ethiopia Transport Corridor|LAPSSET]]).<ref>{{Cite journal |last1=Ombaba |first1=K. M. B. |last2=Arogo |first2=P. A. |last3=Bii |first3=P. |last4=Omuya |first4=J. |last5=Ongeri |first5=L. |last6=Kabuka |first6=P. O. |date=2012 |title=A study on the impact of China's investments in Africa: the case of Kenya. |url=https://hdl.handle.net/10520/EJC127664 |journal=Sabinet African Journals |hdl=10520/EJC127664 |via=Google Scholar}}</ref>

=== [[South Africa]] ===
The CAD Fund opened an office in [[Johannesburg]] which brought investments in the mining sector by Chinese companies as well as venture projects with South African companies. The largest single investment by the CAD Fund in South Africa occurred in 2010 through their support of the Jidong Development Group which invested roughly 52 million USD towards the creation of a cement plant. The CAD fund also directly invested several million USD towards several [[renewable energy]] projects. The Fund has also worked to establish and promote the [[Coega Industrial Development Zone]] in [[Port Elizabeth]] to stimulate further independent investments and job creation.<ref>{{Cite journal |last1=Alden |first1=C. |last2=Wu |first2=Y. |date=2014 |title=South Africa and China: The making of a partnership. Johannesburg: South African Institute of International Affairs. |url=https://d1wqtxts1xzle7.cloudfront.net/40967147/saia_sop_199_GPA_alden__wu_20141006-libre.pdf?1451994816=&response-content-disposition=inline%3B+filename%3DSouth_Africa_and_China_The_Making_of_a_P.pdf&Expires=1715574005&Signature=QOb-cN5nPYpyBTOx8gbPOuCFROYMFv5oWQlxGSJ4VVWffB0k~yOs95RysITaUx5392DC8eHZZ7csWkOR8nbZRiTJoupBzZ9hkWIJ58gQDTDQ~kVWpTSG8OcaRXJ~9nitGAq0R34yvjUBH1CvLadfufYNAvYYkYg0TDonVMToFWRM4AjuUGNgbh4EsLOO9FQYdLo9xGuOLopV14Kr5RWA6sHTGhBud0jC4Qfpin32NHWg2zJ9qmjAOsV~XcZYErTIgCmTxpO6agWNq4SlCKywxeHxVEHra3TdRsd7XJPdUslB5O~iWpzNuKefvCeR40GGp3HnQHOqAhJokwnG-Nwr8g__&Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA |journal=South African Institute of International Affairs |via=Google Scholar}}</ref>

=== [[Zambia]] ===
The bulk of the CAD Fund's investments in Zambia are centered around cotton cultivation projects as well as [[Copper extraction|copper mining]] projects.<ref>{{Cite journal |last=Mushota |first=C. E. |date=2021 |title=China in Africa: Partner or Exploiter? The Case of Zambia. |url=https://academicworks.cuny.edu/cgi/viewcontent.cgi?article=1997&context=cc_etds_theses |journal=CUNY Academic Works |via=Google Scholar}}</ref>  


==See also==
==See also==
* [[Belt and Road Initiative]]
* [[Africa–China relations]]
* [[Africa–China relations]]
* [[East India Company]]


==References==
==References==
{{Reflist}}
{{Reflist}}


== External links ==
⚫
{{Economy of the People's Republic of China}}

⚫
[[Category:Finance in China]]
* {{Official website}}
[[Category:Development charities]]
⚫
{{Economy of China}}
[[Category:Funds]]

[[Category:Economy of Africa]]
{{authority control}}

⚫
[[Category:Private equity firms of China]]
[[Category:Africa–China relations]]
[[Category:Africa–China relations]]
[[Category:2007 establishments]]
[[Category:2007 establishments in China]]
[[Category:Government-owned companies of China]]

Latest revision as of 20:58, 2 July 2024

China-Africa Development Fund
FoundedJune 26, 2007; 17 years ago (2007-06-26)[1]
HeadquartersBeijing, China
Area served
China, Africa
Key people
Zhao Jianping (Chairman)
Chi Jianxin (President)
Websitewww.cadfund.com

The China-Africa Development Fund (Chinese: 中非发展基金), more commonly known as CAD Fund, is a China Government Guidance Fund solely funded by China Development Bank, a Chinese government policy bank. The aim of the fund is to stimulate investment in Africa by Chinese companies in power generation, transportation infrastructure, natural resources, manufacturing, and other sectors.

History[edit]

The creation of CAD Fund was announced as one of the "Eight Measures" for Sino-African relations at the Beijing summit of the Forum on China-Africa Cooperation (FOCAC) by President Hu Jintao on November 4, 2006. It was established in June 2007 with US$1 billion of initial funding by the China Development Bank and is envisioned to grow to US$5 billion in the future.[1] The fund entered into its second round of fundraising in May 2010 to raise US$2 billion.[2] In 2015, China announced its plan to expand the CAD fund to $10 billion.[3]

Investments[edit]

The fund's primary purpose is foster Sino-African investment through bridging finance, financial advice, Africa specific managerial advice, and identification of potential investment opportunities as well as connecting African projects to Chinese investors.

As of 2010 the fund had invested in 30 projects in Africa worth around US$800 million. In 2009 alone, the fund invested US$140 million of China's total US$1.3 billion invested in Africa that year.[2] The fund primarily focused on industrial development. For example, in 2010 it teamed up with several partners by contributing 382.5 million ZAR into a 1.65 billion ZAR investment by Jidong Cement to build a cement plant in Limpopo, South Africa.[4]

The fund has also participated in acquiring natural resource assets by forming a joint venture with China National Nuclear Corporation (then China Guangdong Nuclear Power Group) to acquire most of the Husab Mine for US$996 million in February 2012.[5]

The fund made a rare move in media in December 2013 when it was the financial partner in the acquisition of 20% of Independent News and Media SA, a newspaper publishing house in South Africa, for 400 million ZAR.[6]

List of equity investments[edit]

Grants and other activities[edit]

The China Africa Development Fund provides support in connection with the overseas special economic zones that Chinese enterprises have established in Africa.[9] Although the Chinese government generally takes a hands-off approach to the development of these zones, leaving it to Chinese enterprises to work with host countries to establish them, the CAD Fund provides support in the form of grants, loans, and subsidies.[9]

Specific current involvement[edit]

The CAD Fund has completed over 60 projects, but also acts as a resource to organize the independent investments of Chinese firms. Sometimes these projects have very few funds directly from the 10 billion USD allocated for the CAD Fund, but benefit from the CAD Fund's logistical experience and monitoring in order for investments to flow with greater efficiency.

Ethiopia[edit]

The CAD Fund in Ethiopia targets agricultural and rural development.[10] In 2009, in a joint venture with the Xinxiang Kuroda Mingliang Leather Co. Ltd, the CAD Fund invested roughly 27 million USD towards a large leather product factory close to Ethiopia’s capital, Addis Ababa. The Fund has also helped establish Ethiopia’s special economic zone in collaboration with Chinese companies called the Ethiopian Eastern Industrial Zone (EEIZ). Wherein several independent investment projects are undergoing with potential for large job creation for the local population.[11]

Ghana[edit]

The Cad Fund's main investment in Ghana are power plant construction and developments. Most notable is the Asogli power plant in Tema.[12] This plant is the first private owned electricity producing plant in Ghana, using natural gas.

Kenya[edit]

The CAD Fund helped organize over 16 million USD in investments towards hydro-power plants as well as several infrastructure improvements. The fund will also support the organization of several Chinese firms with the construction of a large port in Lamu as a part of the Lamu Port Southern Sudan-Ethiopia Transport Corridor project (LAPSSET).[13]

South Africa[edit]

The CAD Fund opened an office in Johannesburg which brought investments in the mining sector by Chinese companies as well as venture projects with South African companies. The largest single investment by the CAD Fund in South Africa occurred in 2010 through their support of the Jidong Development Group which invested roughly 52 million USD towards the creation of a cement plant. The CAD fund also directly invested several million USD towards several renewable energy projects. The Fund has also worked to establish and promote the Coega Industrial Development Zone in Port Elizabeth to stimulate further independent investments and job creation.[14]

Zambia[edit]

The bulk of the CAD Fund's investments in Zambia are centered around cotton cultivation projects as well as copper mining projects.[15]  

See also[edit]

References[edit]

  1. ^ a b "Company Overview". CAD Fund website. CAD Fund. Archived from the original on 14 November 2013. Retrieved 22 February 2012.
  2. ^ a b Yan, Zhou (28 May 2010). "CAD Fund to boost footprint in Africa". China Daily. Retrieved 22 February 2012.
  3. ^ Murphy, Dawn C. (2022). China's rise in the Global South : the Middle East, Africa, and Beijing's alternative world order. Stanford, California. p. 74. ISBN 978-1-5036-3060-4. OCLC 1249712936.{{cite book}}: CS1 maint: location missing publisher (link)
  4. ^ "China seals cement deal with S Africa". The Financial Times. May 13, 2010.
  5. ^ Stewart, Robb M. (February 2012). "Rio Tinto Accepts Chinese Bid for Kalahari Shares". The Wall Street Journal. Retrieved 22 February 2012.
  6. ^ Sam Sole and Craig Mckune (28 August 2014). "What's black and white and in the red all over?". Mail and Guardian. Retrieved 8 September 2014.
  7. ^ 华友钴业关于公司股东中非发展基金减持股份计划的公告 (in Chinese)
  8. ^ "Africa: Ghana's leading carrier, Africa World Airlines takes delivery of 7th aircraft". 29 October 2018.
  9. ^ a b Murphy, Dawn C. (2022). China's rise in the Global South : the Middle East, Africa, and Beijing's alternative world order. Stanford, California: Stanford University Press. p. 177. ISBN 978-1-5036-3060-4. OCLC 1249712936.
  10. ^ Brautigam, D.; Tang, X. (2012). "An overview of Chinese agricultural and rural engagement in Ethiopia. Development Strategy and Governance Division" (PDF). International Food and Policy Research Institute – via Google Scholar.
  11. ^ Geda, A.; Meskel, A.G. (2009). "Impact of China-Africa Investment Relations: Case Study of Ethiopia". African Economic Research Consortium – via Google Scholar.
  12. ^ Schickerling, E. J. (2012). The role of the China Africa Development Fund in China's Africa policy (Doctoral dissertation, Stellenbosch: Stellenbosch University). Stellenbosch University Press (Thesis) – via Google Scholar.
  13. ^ Ombaba, K. M. B.; Arogo, P. A.; Bii, P.; Omuya, J.; Ongeri, L.; Kabuka, P. O. (2012). "A study on the impact of China's investments in Africa: the case of Kenya". Sabinet African Journals. hdl:10520/EJC127664 – via Google Scholar.
  14. ^ Alden, C.; Wu, Y. (2014). "South Africa and China: The making of a partnership. Johannesburg: South African Institute of International Affairs" (PDF). South African Institute of International Affairs – via Google Scholar.
  15. ^ Mushota, C. E. (2021). "China in Africa: Partner or Exploiter? The Case of Zambia". CUNY Academic Works – via Google Scholar.

External links[edit]

Retrieved from "https://en.chped.com/w/index.php?title=China-Africa_Development_Fund&oldid=1232265534"