Tuesday, September 30, 2025
24.1 C
Lagos

China, France Create Joint €300M Fund to Invest in Africa

China and France announced on November 15 the official launch of a €300 million investment fund to finance joint projects in Africa and Asia.

The fund was launched on the sideline of the visit of China’s deputy Prime Minister, Kai ma, to France.

Managed by CDC International Capital (CDC IC), subsidiary of Caisse des Dépôts dédiée aux partenariats d’investissements directs, and backed by the China Investment Corporation (CIC) sovereign fund, the new fund could reach a capital of two billion Euros, by opening up to other Chinese and French institutional investors.

It will mainly target the renewable energy, health and infrastructure sectors. “This new alliance, sealed with this fund, aims to foster economic cooperation between our countries. Rather than competing in Africa, we will now work together,” said Laurent Vigier, CEO of CDC IC. “It will also ease our entry in Asian markets which are still difficult to penetrate,” he added commenting the partnership.

Let’s recall that China and France signed in June 2015 a declaration of partnership for third country markets under which the two nations committed to win, together, new markets in Africa and Asia.

Moreover, under the same declaration, the two countries are to work together on infrastructure and energy projects and develop “new cooperation formulas for co-production and co-financing” which will target “mainly Asia and Africa.”

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

NDLEA Chief, Buba Marwa, to Deliver Realnews 10th Anniversary Lecture Nov 17

The Management of Realnews Magazine and Publications Limited, publishers...

Atiku Vows to Sack CBN Gov, Godwin Emefiele

Mr. Atiku Abubakar, Presidential candidate of the Peoples Democratic...

Interswitch Sponsored Entrepreneurs Graduate from Technology School

Interswitch, the Leading Integrated Digital Payments and Commerce Company...

Heirs Energies Commends NUPRC at 3, Points Way Forward for Sector

Mr. Tony Elumelu, Chairman, Heirs Holdings Group has commended...

Nigeria Tax Crackdown: An Imperative for Automated Business Solutions

Nigerian companies must ensure that they have robust, automated...

Aligning Talent Strategy with Business Strategy

   By Kazeem Olayemi Odeyeyiwa, FCA  Talent management is of strategic...

Ford Atlas Concept: The Future of Pickups

Ford Atlas Concept: The Future of Pickups The Ergonomic Interior Ford...
spot_img

Related Articles

Popular Categories

spot_imgspot_img