Representatives of China-Africa Fund for Industrial Cooperation (CAFIC) visit Golden Star Wassa Ltd


Golden Star Wassa Ltd were hosts to a delegation from the China-Africa Fund for Industrial Cooperation (CAFIC) from the 6th to 9th of November 2023. CAFIC is the second largest shareholder of Golden Star Resources.

CAFIC is a medium to long-term investment fund with the aim of supporting projects that could promote China-Africa cooperation, improve the wellbeing of African people, and facilitate Chinese and African economic development. Since its establishment, CAFIC has actively invested in projects of different sectors and explored new ways to expand industrial cooperation between China and Africa, giving financial support to a group of exemplary projects in areas such as resources and energy, manufacturing, and communications equipment.

This is the first visit of the CAFIC team following the acquisition of Golden Star by Chifeng Gold. 

In Ghana and ahead of the visit to site, the CAFIC delegation headed by Wang Yang paid a courtesy called at the Chinese Embassy in Accra, where they held discussions with the commercial councilor. On site they were received by Wassa management team led by Mr. Kevin Zhiyong Chen Chairman Golden Star Wassa and included Mr. Shaddrack Sowah, Mr. Gerard Boakye and Mr. Charles Xiaofeng Dong.   They held various discussions with management and visited the operational areas of Golden Star Wassa including, Underground areas, Paste back fill plant, processing plant and tailings storage facilities. They also visited the host communities and inspected Golden Star Wassa CSR projects and programmes including the award-winning Golden Star Oil Palm plantations.

Sharing insights of the visit, the head of the CAFIC delegation Mr. Wang Yang was happy at the progress that Golden Star Wassa had made since it was acquired by Chifeng Gold and pledged CAFIC’s support to ensure that the vision of Chifeng Gold is realized with its overseas acquisitions. He also said, ‘We are optimistic about the economic outlook in Africa and hope to strength our relationship with Chifeng Gold to tap the potential of Wassa mine and contribute more to the local community.’

On his part Mr. Kevin Zhiyong Chen expressed his gratitude to the CAFIC team for coming to site to experience the impact that their investment is making in the realization of the visions of Chifeng Gold and CAFIC, and how the operations were contributing positively towards the environmental, social, and economic fortunes of stakeholders of Golden Star Wassa.