China–Africa Development Fund
organization
The China–Africa Development Fund (CAD Fund; Chinese: 中非发展基金) is a China Government Guidance Fund funded by China Development Bank. It invests in African projects across power generation, transportation infrastructure, natural resources, and manufacturing.
History
The fund was announced by General Secretary Hu Jintao at the November 2006 Beijing summit of the Forum on China-Africa Cooperation as one of the "Eight Measures" for Sino-African relations. It launched in June 2007 with US$1 billion from China Development Bank. A second fundraising round began in May 2010 targeting US$2 billion, and in 2015 China announced plans to expand the fund to US$10 billion.
Investment approach
The fund selects projects based on commercial merit rather than by country, targeting sectors critical to African development such as agriculture, manufacturing, and infrastructure. Primary recipients are Chinese enterprises operating in Africa. The Chinese government exempts the fund from corporate income tax on African investment earnings.
The fund also supports Chinese special economic zones in Africa through grants, loans, and subsidies, though the Chinese government generally leaves zone development to enterprises working directly with host countries.
Investments
Jidong Cement plant (2010): Contributed 382.5 million ZAR toward a 1.65 billion ZAR Jidong Cement plant in Limpopo.
The public source identifies “China–Africa Development Fund” as organization. This brief keeps that definition visible, then builds a research path around China, Africa and Development.
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The record creator and administrative purpose are central evidence, because official documentation reflects both action and institutional priorities. The source revision retrieved here is dated Jun 15, 2026. The linked authority identifier is Q5099536. 1 of 4 selected statements include explicit references; 3 carry qualifiers and 0 use preferred rank. The first chronological checks are 2006, 2007, 2010 and 2015.
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This entry incorporates text from “China–Africa Development Fund” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.