Bank of Africa signs a partnership agreement with a leading Chinese economic player

The Moroccan banking group Bank of Africa (BOA) is increasing its cooperation projects and simultaneously signing a partnership agreement in Beijing and Casablanca with a leading Chinese economic player. In fact, within the framework of Sino-African cooperation, several subjects of cooperation between BOA and high-level Chinese institutions have recently been deployed, including the opening of a branch of the Group in Shanghai.

The signing of this partnership agreement between BOA and the China-Africa Development Fund – CADFund – confirms the major role played by the bank in the economic rapprochement between China and Africa.

The signing ceremony took place yesterday, January 15, by videoconference, in the presence of Othman Benjelloun, Chairman of the BOA group and Song Lei, Chairman of CADFund. This is a promising cooperation aiming to cofinance Chinese investment in Africa, either by setting up joint ventures or by direct bank financing based on the Group’s large African network.

The two parties undertake to capitalize on their respective mastery of the Chinese and African markets to create value for their customers and partners.The present partnership also aims to promote, facilitate and co-finance Chinese companies wishing to establish themselves in the city ​​Mohammed VI Tangier Tech.

It should be noted that CADFund has a financing capacity of 10 billion dollars exclusively dedicated to productive investment in Africa. Through this agreement, BOA further strengthens its power in the Chinese financial market and establishes itself as an economic partner of choice. in Sino-African bilateral cooperation.