China-Africa Fund Finds Investing Harder Than Expected, CEO Says
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The China-Africa Development Fund has found investing in the African continent more difficult than expected after committing almost all its first $1 billion, Chief Executive Officer Chi Jianxin said in an interview.
The state-owned private equity fund, which began in June 2007, has not been able to exit any of its investments to realize a profit, Chi said yesterday in Beijing. It is still seeking a “beneficial result” in the long term, he said.