(MENAFN- Mid-East.Info)
AFRICA SOVEREIGN INVESTORS FORUM (ASIF) BRINGS TOGETHER SWFS TO DRIVE TRANSFORMATIONAL PROJECT
Rabat: Abu Dhabi Investment Authority (ADIA) and ADQ, the UAE-based entities, have signed the Rabat Declaration extending support to the first Africa Sovereign Investors Forum (ASIF), organised by Ithmar Capital, Morocco's sovereign strategic investment fund. The“Rabat Declaration” acknowledges“the establishment of ASIF as a facilitator and a catalyzer of bankable investment opportunities”.
The event brought together the region's leading sovereign wealth funds (SWFSs) to discuss and drive transformational development projects and strengthen inter-Africa relations.
Held in Rabat under the patronage of His Majesty King Mohammed VI, ASIF sets the foundation for improved collaboration among multiple stakeholders to forge multidimensional partnerships that will contribute to the socio-economic progress of the continent.
All the main African sovereign wealth funds participated in the forum and signed a memorandum of understanding to activate continuous dialogue and develop transformational and concrete investment projects.
In addition to ADIA and ADQ, Kuwait Investment Authority (KIA) and Qatar Investment Authority (QIA) were among the entities from the GCC that attended the inaugural ceremony.
ADIA, ADQ and KIA expressed their confidence in ASIF's framework for unlocking investment opportunities that meet the requirements of international investors while stimulating economic development in Africa for the benefit of its future generations.
About ASIF
ASIF, a first of its kind initiative, is a multilateral platform that gathers African sovereign investors in order to put in place a collaboration framework between these key players. The initiative seeks to intensify institutional cooperation between its members and accelerate capital mobilization for the benefit of the continent. ASIF's members are: AGACIRO (Rwanda), FSD (Djibouti), FGIS (Gabon), FONSIS (Senegal), FSDEA (Angola), GIIF (Ghana), Ithmar Capital (Morocco), NSIA (Nigeria), PIC (South Africa) and TSFE (Egypt).
About Ithmar Capital
Established in 2011, Ithmar Capital is a strategic investment fund which primary purpose is to support Morocco's economic development. As a multi-sectorial fund, Ithmar Capital aims to promote investment in all national strategic sectors by developing structuring and transformational projects with a strong impact.
A strategic relay between national priorities and private investment, Ithmar Capital acts as a trusted third party and adopts a logic of long-term intervention, thus consolidating its position as a wise and patient investor. As a sovereign wealth fund, Ithmar adheres to the Santiago Principles which are supported by the International Forum of Sovereign Wealth Funds (IFSWF) and of which it has been an active member since 2015 and currently chairs the Board of Directors.
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