Yangtze Optical Fibre and Cable JSC : South African Government Official Site Visit At YOA Cable

On 2 May 2017, the Minister of Finance of South Africa Mr Malusi Nkanyezi Gigaba, MEC for Economic Development, Tourism and Environmental Affairs of Kwazulu Natal Mr Shihle Zikalala and Mayor of Durban Ms Zandile Gumede together with various government officials and dignitaries visited Yangtze Optics Africa Cable (hereinafter referred as 'YOA Cable') manufacturing facility in Dube Trade Port as part of the World Economic Forum Africa ministerial media tour in Durban.

In line with Chinese 'One Belt One Road' national strategy, Yangtze Optical Fibre and Cable Joint Stock Limited Company (stock code 06869.hk, hereinafter referred as 'YOFC') together with Mustek Limited signed a joint venture co-operation in March 2016. During the same year in December, YOA Cable had accomplished the establishment of YOA Cable facility in Durban. Aligning with YOFC's development strategy, YOA Cable introduced new modern manufacturing equipment and processes, with some first in the manufacturing of optical fibre cable in South Africa. It is the intention of YOA Cable to manufacture a range of new generation optical fibre cable products for the South African ICT and Broadband market. It is envisaged that YOA Cable will set a strong foothold in South Africa and to penetrate into African region, YOA Cable will strive to become the most influential fibre optical cable manufacturing and supplier in the African region.

The fibre optics technology has been developing new economic opportunities for both business and private individuals in South Africa due to fibre optics' ability to deliver high-speed internet access, which enables a thriving ecosystem for startups to provide new goods and services that contribute towards an overall high quality of life for residence.During the visit, Mr Shihle Zikalala commented 'We have in the past few years witnessed considerable progress with respect to the emergence of new business investments in various sectors of our provincial economy. Bolstered by our two Special Economic Zones in the Dube TradePort and the Richards Bay Industrial Zone, we have been able to attract millions of rand worth of new investments to the province and we will doubtless use the forthcoming World Economic Forum Africa to woo yet more potential investors into the province'.