Industrialization is the key foundation of modernization and the only way for a country's economic development. There are abundant natural resources and population advantages in Africa though, most countries in Africa are in the early stage of industrial development. After 40 years of reform and development, China has rich experiences in industrial development, acquiring technology, capital and talent advantages. China-Africa capacity cooperation meets the practical needs of African development and has a strong foundation for cooperation.
CADFund will facilitate Chinese enterprises to invest in such areas as automobile、electric appliances、mechanics、cement、glass and etc., to transfer “Made in China” to “Made jointly by China-Africa”, to promote industrial cluster development, to help Africa industrialize, and to realize economy independence and self-development.
Jointly invested by CADFund and China Hisense Group, the project has annual outputs of 540,000 refrigerators and 390,000 televisions. The project won South Africa's Best Product Award in 2017. The home appliances it produced enjoys the largest sales volume in local market and are exported to more than 10 African countries. The implementation of the project not only promoted South Africa's employment and exports, but also improved the country's manufacturing and technical capacity. Through "Made in Africa", it improved the local management, logistics and post-sales service, promoted the development of related industries, won the praise of South African leaders and people, and became a well-known brand in South Africa.
The FAW South Africa factory, co-invested by CADFund and FAW China, has an annual output of 5000 trucks. The project was highly praised by the South African government and the local community and was considered "a model of cooperation between China and South Africa". 70% of the products sold by the project company are manufactured locally, thus having driven the development of related upstream and downstream industries such as raw material supply and vehicle modification. Meanwhile, FAW South Africa Project Company employs a total of 240 local employees in production, sales and service, 97% of the positions have been localized.