CADFund's investment in Africa aims to meet the development needs of African countries. The invested projects are meant to effectively enhance African countries’ capacity in developing economy and improve the local people's livelihood while promoting African economic integration and accelerating Africa's industrialization process. CADFund makes every efforts to promote the local manufacturing development by investing in such fields as automobile, home appliances, cement and glass etc., to provide job opportunities and increase households’ income by investing in cultivation of rice, and other food crops, to break the bottleneck of local infrastructure development by investing in airlines, power plants and ports etc., and to help transfer the resource advantages to development advantages by investing in mineral projects. These projects have created employment opportunities, expanded exports, increased tax revenues and benefited 8.7 million local Africans in their host countries.
In the process of promoting China-African economic and trade cooperation through investment, CADFund upholds a correct outlook on justice and benefits and guides its partners on the compliance with local laws of the host country, respecting local traditions, enhancing community cooperation, and actively performing social responsibilities. For instance, in March 2019, Mozambique was hit by cyclone “Idai” which caused heavy casualties and property losses. The Mozambique Agriculture Park project invested by CADFund immediately provided 100 tons of rice as aid to the Mozambican government and 1,652 tons of emergency relief food through the World Food Programme (WFP). In addition, CADFund, on behalf of China Development Bank (CDB), also launched a special donation to fight the 2014 Ebola epidemic, cooperated with International Poverty Reduction Center in China to promote poverty reduction in Africa, engaged young African students studying in China in the "Joining Hands with China, Africa and Everyone" campaign, launched the public welfare fund "Less Aids and More Love", and organized an Open Day of the AWA Aviation Project it invested for local primary school students. These initiatives have demonstrated CADFund’s corporate social responsibilities in benefiting the local people, improving the livelihood of the communities, promoting poverty alleviation and reduction in Africa.
Enclosure:South-South In Action (The China-Africa Development Fund -Promoting the Sustainable Development of Africa through South-South Investment)