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Wednesday, December 7, 2022

Three Investment Development Agreements Signed in Rabat

Three agreements were signed, Monday in Rabat, on the occasion of the Africa Sovereign Investors Forum (ASIF), held at the initiative of Ithmar Capital.

An MoU was signed by Ithmar Capital and a dozen African sovereign funds. The agreement aims to consolidate and accelerate the key principles of the joint declaration, set an ambitious roadmap and clear objectives, and organize governance among members.

A letter of intent was also signed by the African Development Bank (AfDB), Africa50, and ASIF to cooperate on project identification and preparation.

Furthermore, Abu Dhabi Investment Authority (ADIA), ADQ of the United Arab Emirates, Kuwait Investment Authority (KIA), and ASIF signed the Rabat Declaration to express their support for the ASIF initiative.

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

On this occasion, Obaid Amrane, Ithamar Capital CEO and ASIF Chairman said he is convinced that the Africa Sovereign Investors Forum will be able to address many of the challenges faced by international investors.

For his part, ADQ’s CEO, Mohamed Hassan Alsuwaidi, noted that Africa is endowed with 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.

ADIA’s Executive Director, Khadem Al Remeithi, described ASIF as a strong new platform to access significant investment opportunities and thus mobilize capital, through cooperation with “our African neighbors.”

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

ASIF, a pan-African multilateral platform, is dedicated to accelerating investment, mobilizing finance and equity on the continent, and strengthening cooperation between sovereign wealth funds to help accelerate growth and development.

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