Gulf sovereign wealth funds support ASIF

The work of the African Sovereign Investors Forum (ASIF) opened on Monday, June 20 in Rabat. The opportunity for three sovereign wealth funds from the Gulf to lend their support to this initiative, through the signing on Monday June 20 in Rabat of a joint declaration.

As part of this work carried out at the initiative of Ithmar Capital, three agreements were also signed.

A memorandum of understanding for the creation of ASIM has been concluded by Ithmar Capital and a dozen African sovereign wealth funds. This protocol consolidates and accelerates the key principles of the joint declaration, sets an ambitious roadmap and clear objectives and organizes governance between members.

It is also about the signing of a letter of intent between the African Development Bank (AfDB), Africa50 and ASIF, for cooperation around the subjects of identification and preparation of projects, the mobilization of capital for the preparation and implementation of projects, and cooperation for the development of skills and expertise.

In addition, Abu Dhabi Investment Authority (ADIA), ADQ of the United Arab Emirates, Kuwait Investment Authority (KIA), and ASIF have signed the Rabat declaration as an expression of support for the ASIF initiative.

ADIA, ADQ and KIA thus express their confidence in the ASIF platform as a catalyst for investment opportunities and an accelerator for infrastructure projects that meet the standards of investors and international capital markets.

On the occasion, the Managing Director of Ithmar Capital and Chairman of ASIF, Obaid Amrane said he was convinced that ASIF will be able to respond to many challenges that international investors face, with regard to investment in Africa. and will certainly open up opportunities for a positive impact on the continent and its aspirations for a better future.

For his part, the CEO of ADQ, Mohamed Hassan Alsuwaidi, noted that Africa has significant economic potential and that the initiative will strengthen existing ties and explore new opportunities with potential partners. in Africa for ADQ and its portfolio companies.

For his part, the Executive Director of ADIA, Khadem Al Remeithi, affirmed that ASIF constitutes a new solid platform making it possible to provide access to important investment opportunities, and thus to mobilize capital, through this cooperation with “our African neighbours.

Photo Mounir Mehimdate

The CEO of KIA, Ghanem Al-Ghenaiman, meanwhile, said that the Rabat declaration is an opportunity for Kuwait Investment Authority to further strengthen its investment offer in Africa.

“With an investment presence in Africa spanning more than half a century, KIA aspires to further expand its investments across all sectors in the continent of opportunity,” he noted.

It should be noted that this high mass was marked by a message sent by King Mohammed VI to the participants, in which he rightly underlined that “sovereign and strategic investment funds are powerful indicators of opportunities and constitute spur for a better allocation of capital to sectors that create economic value and have a strong social impact”.

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