US$ 1 Billion Belt & Road Africa Fund Launched
US$ 1 Billion Belt & Road Africa Fund Launched from Silk Road Briefing
TDC Note – But, but, but…the whole silk road project is, well, is going away, will have no impact and be a non-factor to global trade and economic growth. Said any and all western world corporate media.
The South African businessman Iqbal Surve is to head up a new Belt & Road Africa Fund, financed by China. The fund was officially launched at the annual World Economic Forum (WEF) Summer Davos Meeting, which is currently underway in Dalian. Surve is the Chairman of South Africa’s Sekunjalo Group, a VC firm that also owns a significant stake in South African media. He has also instigated the Belt & Road Africa Business Council, due to be launched in September, and was a past chairperson of the BRICS Business Council for South Africa. South Africa has signed off an MoU with China concerning the Belt & Road Initiative and is one of the equal partnership members of the BRICS grouping, along with Brazil, China, India and Russia.
The fund will focus on investments in Africa, which will include co-investments in infrastructure, technology, eCommerce, artificial intelligence (AI) and the beneficiation of the resource industry in Africa. Additionally, the fund will serve as a co-operation platform between business sectors in China and Africa.
Surve commented at the launch “The discussions that we’ve had with Chinese businesspeople, state-owned enterprises and family offices, have resulted in the establishment of this fund. Africa is ready to grow and is heading towards a $5 trillion economy. The Chinese have seen how China was able to grow from 1980 when China made up only 2 percent of GDP when compared to today, where China makes up 19 percent of the global GDP. This fund is a great boost for the development of Africa.”