What's Hot

    Bahrain hosts Egyptian delegation as trade soars

    June 29, 2022

    Dubai Chambers registers over 1,600 African companies since October 2021

    June 28, 2022

    GrubTech: Transforming restaurants and cloud kitchens

    June 27, 2022
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      ACWA Power consortium signs agreement for 1.1 GW wind project in Egypt

      June 23, 2022

      Gulf sovereign funds sign deal to spur investment in Africa

      June 22, 2022

      Algeria and Qatar to explore tourism and real estate investments

      June 21, 2022
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Bahrain hosts Egyptian delegation as trade soars

      June 29, 2022

      Dubai Chambers registers over 1,600 African companies since October 2021

      June 28, 2022

      Sierra Leone’s Investment and Export Promotion Agency meet with Qatar Chamber to discuss economic cooperation

      June 16, 2022
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      ITFC begins disbursing additional USD 3 billion in credit to Egypt, willing to provide more

      Agri commodities Agri-Business Islamic finance June 17, 2022
      Recent

      ITFC begins disbursing additional USD 3 billion in credit to Egypt, willing to provide more

      June 17, 2022

      MENA startups raise USD 176 million in May

      June 14, 2022

      ITFC doubles Egypt’s credit limit to USD 6 billion to cover imports of wheat

      May 30, 2022
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    FDI

    Gulf sovereign funds sign deal to spur investment in Africa

    June 22, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Gulf sovereign funds
    The ASIF will focus on a number of sectors, including logistics.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Gulf sovereign funds to drive investment across the continent with a focus on providing capital and investments in infrastructure and green projects.

    During a meeting in Rabat, Morocco, the Abu Dhabi Investment Authority and holding firm ADQ, in addition to the Kuwait Investment Authority, signed a deal to encourage investment in Africa. The meeting took place during the first day of the Africa Sovereign Investors Forum (ASIF).

    A platform for sovereign funds

    ASIF is a platform that brings together the sovereign funds of Angola, Djibouti, Egypt, Ethiopia, Gabon, Ghana, Morocco, Nigeria and Rwanda. The Forum represents an investment market place, supported by the African Development Bank and its partners. Its goal is to accelerate the closure of the continent’s investment gaps. ASIF operates as a multi-stakeholder, multi-disciplinary platform dedicated to advancing projects to bankable stages, raising capital, and accelerating the financial closure of deals.

    Securing investment

    The agreement is designed to support the African funds in securing investment in their respective countries. According to ADQ CEO Mohamed Hassan Alsuwaidi, ASIF “will enable us to explore new opportunities with potential partners in Africa for ADQ and its portfolio companies”.

    While details of the agreement remain scarce, several sources claimed that ASIF will focus on mobilizing capital and equity, promoting green projects and investing in logistics to improve interconnectivity within the continent. As reported by Gulf Africa Review, a number of UAE companies have been regular investors in the green energy sector and the development of Africa’s ports.

    Alongside the Gulf sovereign funds, the African signees to the twelve-party deal include Morocco’s Ithmar Capital, Nigeria Sovereign Investment Authority (NSIA), Ghana Infrastructure Investment Fund, Gabon’s Fonds Gabonais d’Investissements Stratégiques (FGIS), Rwanda’s Agaciro Development Fund, Angola’s Fundo Soberano, the Sovereign Fund of Egypt, Senegal’s FONSIS and Djibouti’s Sovereign Fund.

    The need for “a real investment industry”

    Prior to the signing, Morocco’s Minister of Economy and Finance Fouzi Lekjaa had delivered King Mohammed VI’s address to the ASIF attendees. In his address, the King spoke about Africa’s need for a “real investment industry” to achieve financial self-sufficiency moving forward. King Mohammed urged Africa to “assert itself,” arguing that African sovereign and strategic investment funds can provide incentives to better exploit and allocate resources for better economic value and social impact.

    News of the deal comes at a time where much of Africa is facing an “unprecedented” crisis, according to a statement by the UN in May. Soaring food and fuel prices due to the Russia-Ukraine war and economic upheaval in states such as Egypt have led to concerns over the continent’s economic future.

    Abu Dhabi Abu Dhabi Investment Authority Africa Sovereign Investors Forum ASIF FDI investment Kuwait Kuwait Investment Authority Sovereign Funds
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleAlgeria and Qatar to explore tourism and real estate investments
    Next Article ACWA Power consortium signs agreement for 1.1 GW wind project in Egypt

    Related Posts

    Uncategorized

    FDI: The UAE receives 41% share of investments across Arab countries

    June 24, 2022
    FDI Infrastructure Power

    ACWA Power consortium signs agreement for 1.1 GW wind project in Egypt

    June 23, 2022
    Business FDI Hospitality Infrastructure

    Algeria and Qatar to explore tourism and real estate investments

    June 21, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    LATEST STORIES

    Bahrain hosts Egyptian delegation as trade soars

    June 29, 2022

    Dubai Chambers registers over 1,600 African companies since October 2021

    June 28, 2022

    GrubTech: Transforming restaurants and cloud kitchens

    June 27, 2022

    FDI: The UAE receives 41% share of investments across Arab countries

    June 24, 2022

    ACWA Power consortium signs agreement for 1.1 GW wind project in Egypt

    June 23, 2022
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.