2024 FOCAC Summit | Chinese, South African enterprises seal six key cooperative agreements

(ECNS)--Chinese and South African enterprises signed six cooperative agreements, covering key areas such as clean energy, manufacturing, and technology, during the 2024 South Africa-China Presidential Business Forum held on Wednesday in Beijing.

CGN Energy International Holdings Co., Limited, China-Africa Development Fund (CADFund), and CoAdna, Holdings signed a package of agreements with Samancor Chrome and China Construction Bank Corporation Johannesburg Branch for financing and sale of photovoltaic direct power supply project in South Africa.

The project involves the first private PPA self-supplied power station project overseen by Chinese-invested or controlled companies in South Africa, demonstrating the significance of the self-supplied green power in South Africa.

Hon. Parks Tau, minister of South Africa's Department of Trade, Industry and Competition (DTIC), said that South Africa, boasting abundant solar and wind energy resources, is undergoing a renewable energy revolution, which will be one of the major drivers of economic growth and job creation.

Lou Wenjian, vice president of CADFund, said in his keynote speech that the fund will continue to serve as a bridge to promote investment in Africa, supporting more China-South Africa investment cooperation projects and aiding South Africa's industrialization and energy transition.

The 2024 South Africa-China Presidential Business Forum was hosted by the DTIC in conjunction with CADFund, aiming to promote high-quality development of China-South Africa cooperation in trade and investment.

During the forum, CADFund and the Industrial Development Corporation of South Africa Limited reached a cooperative agreement in the fields of new energy and manufacturing while Sasol and China Great Wall Industry Corporation signed a memorandum of understanding on carbon reduction cooperation.

Besides, Sasol and Synfuels China signed a letter of intent for the development and commercialization of new technologies about energy chemical.

The South African National Energy Development Institute and China Electric Power Planning Engineering signed a memorandum of understanding for technical exchanges and cooperation.

China Foundation for Peace and Development, Women Empowerment Development Society in Asia-Africa Limited and South Africa’s North West Provincial Government signed a memorandum of understanding to support the "beautiful village" primary school project.