COMESA and China Overseas Infrastructure Development and Investment Corporation (COIDIC) have signed a Memorandum of Understanding that will provide a framework to guide the relationship between the two entities on the delivery of specific energy and infrastructure development projects in the region.
This was done in South Africa on 26th April 2017 during the opening of the COIDIC newly built Africa office in Merlose, Johannesburg. COIDIC will be involved in the planning, designing, financing and construction of infrastructure projects across Africa in the energy, transportation and Information and Communication Technology (ICT) sectors.
The Secretary General Mr. Sindiso Ngwenya and the South Africa Deputy Minister of Trade and Industry, Mr. Bulelani Magwanishe unveiled the offices.
Mr Ngwenya described the launch of the COIDIC offices as a sign of commitment to the pledge made by China to foster a ‘Win-Win Cooperation for Common Development’.