In Africa, Bank of China focuses its support on two pillars: green development and energy cooperation. In recent years, leveraging its global advantages, BOC has injected robust "green momentum" into Africa's development through high-quality cross-border financial services, facilitating the Belt and Road Initiative.

South Africa was the first African country to sign a Memorandum of Understanding with China on Belt and Road cooperation. To address the power crisis, the South African government has been actively developing renewable energy in recent years.

For a long time, it was nearly impossible for Chinese companies to participate in energy projects in South Africa. However in 2024, with BOC's financial backing, the Oasis 1 battery energy storage systems (BESS) project was signed, which was tendered by the South African government and contracted by PowerChina. Once the project is completed, it will store 1,000 megawatt-hours of electricity, enough to meet the daily power needs of 100,000 households, lighting countless homes in the "Rainbow Nation".

As the credit guarantor, Bank of China issued a performance bond in accordance with South Africa market practices to the project owner, to secure PowerChina's performance. This important step helps the company overcome entry barriers, ensuring that the contractor receives advance payments smoothly and proceeds with the project while mitigating risks for project owners. This also enhances the professional image of Chinese companies in international projects.

In recent years, as China-South Africa economic and trade ties and Belt and Road cooperation continue to deepen, South Africa's vast market has attracted more and more Chinese companies to seek opportunities and participate in construction projects. Bank of China will further deepen cross-border financial integration, facilitate the implementation of more collaborative projects, and ensure that the fruits of cooperation genuinely benefit the people.