King Deer Group, a private Chinese company specializing in cashmere manufacturing, has been doing business in Africa for the past 24 years. King Deer is one of the many Chinese private companies investing in Africa. According to statistics from the Chinese Ministry of Commerce (MOFCOM), private companies now account for more than 70 percent of all Chinese companies investing on the continent. In the meantime, the company has noted a strong demand for industrialization and consumer goods in African countries. In addition, the 2020 China-Africa Private Sector Cooperation Forum is one of the platforms for promoting Chinese investment in Africa,” Adren said.

Source: Ethiopian News February 04, 2021 08:26 UTC