|The Fourth Office of China-Africa Development Fund Inaugurated in Ghana|
The Representative Office for West Africa (hereinafter "the representative office") of China-Africa Development Fund (CADFund) was inaugurated on November 11,
Dignitaries present at the opening ceremony of the representative office are Mr. Zhou Tienong, Vice Chairman of the Standing Committee of the National People's Congress of China and Chairman of the Revolutionary Committee of the Chinese Kuomintang, Hon. Alhaji Muhammad Mumuni, Minister for Foreign Affairs & Regional Integration of the Republic of Ghana, H.E. Mr. Gong Jianzhong, Chinese Ambassador to Ghana, representatives of the Ghanaian government and the local business community, and chief executives of Chinese-invested companies in Ghana. Mr. Zhao Jianping, member of the Executive Management Committee of China Development Bank and Chairman of China-Africa Development Fund, delivered a key-note speech during the opening ceremony.
The Representative Office marks the fourth of its kind, following CADFund's three others based in
In order to encourage and support Chinese companies to invest in
In the past four years since inception, CADFund has witnessed steady growth of its investment business, which has yielded positive results and accomplished broad impacts in the area of China-Africa investment cooperation. CADFund has gradually turned itself into a platform or bridge for Chinese companies to invest in
Up until now, CADFund has maintained a robust pipeline with over 100 reserve projects, and has undertaken over 50 projects located in 30 African countries. Preliminary statistics indicate that completion and operation of all the projects invested under Phase I would bring about USD 5 billion in Chinese FDI to
With an expected funds injection of USD 2 billion in Phase II, which has been stipulated in the FOCAC Sharm el Sheikh Action Plan (2010-2012), CADFund is poised to embrace for greater future development.
CADFund has attached great importance to effective and efficient communication with all stakeholders in
The Sunon Asogli Power Plant jointly invested by CADFund and Shenzhen Energy Group has been operational since October 2010 with an installed capacity of circa 200MW. Both H.E. President Mills and other senior officials think highly of the power plant because of its exemplary role in alleviating the power shortage in
CADFund's launch of its