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Thursday, May 30, 2024

2nd ASIF Annual Meeting: Mobilizing Capital for Africa’s Prosperity

The African Sovereign Investors Forum (ASIF) held its second annual meeting in Kigali, Rwanda, on July 6-7, a year after its launch in Rabat, under the High Patronage of His Majesty King Mohammed VI, may God Assists him.

This year’s edition, which was hosted by the Rwandan sovereign wealth fund, Agaciro Development Fund, dealt with the theme: “Strategic Partnerships: Engine of Resilience and Sustainable Development in Africa”, with the participation of the Ithmar Capital strategic investment led by Obaid Amrane.

In addition to the leaders of the sovereign wealth funds members of ASIF, this second meeting saw the participation of the Prime Minister of the Republic of Rwanda, Dr. Edouard Ngirente, as well as members of his government, Mr. Eric Rwigamba, Minister of Public Investments and privatization, and Mr. Uzziel Ndagijimana, Minister of Finance and Economic Programming. Also taking part in this event, the Director General of the African Union Commission, and the Vice-President of the African Development Bank in charge of the Private Sector, Infrastructure and Industrialization, as well as representatives of high level of sovereign investors and multilateral, regional and local financial institutions.

This session was also marked by the signing ceremony for the membership of new African sovereign wealth funds; these are the Ethiopian fund, Ethiopian Investment Holdings, and the Mauritian fund, Mauritius Investment Corporation (MIC) Ltd, which have joined the founding members, thus confirming a positive dynamic of growth throughout the continent’s geography, confirmed by the current memberships of several other sovereign or strategic investment funds.

ASIF members and the various participants were able to discuss development and investment prospects in Africa, among other topics of common interest, such as the continent’s growth opportunities and challenges, sovereign and strategic partnerships or even Sustainable development. It was also about the Sustainable Development Goals (SDGs) and the importance of collaboration between local stakeholders to achieve them. In addition, this second edition also marked the 10th anniversary of Rwanda’s sovereign wealth fund, a signatory member of ASIF.

Through ASIF, Ithmar Capital thus consolidates its commitment to the continent and the Kingdom’s contribution to a prosperous and sustainable Africa in application of the High Royal Guidelines, in particular those stipulated in the Royal Message that His Majesty King Mohammed VI, God help him, was kind enough to address the participants at the launch ceremony of ASIF in 2022.

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