Johannesburg - Sandile Zungu, the current president of the Black Business Council (BBC) said he welcomed the Belt and Road Africa fund announced at the World Economic Forum (WEF) summer Davos meeting recently.
The fund, which will be capitalised with a US$1billion from wealthy Chinese investors, will be headed by Chairman designate, Dr Iqbal Survé.
According to insiders, the fund will focus on investments on the African continent, which will include co-investments in infrastructure, technology, e-Commerce, artificial intelligence (AI).
“This fund will bring about a positive change in the African continent. We are most delighted that the fund will serve as a bridge between African and Chinese businesses bringing growth in economic transformation for African countries” said Zungu.
In a statement, Zungu congratulated the Chairman-designate, Survé, on his appointment.