At the initiative of Ithmar Capital, an alliance between twelve African sovereign funds has recently been carried out with the aim of promoting investments in the continent.
Thus, the Africa Sovereign Investors Forum (ASIF) had its official launch ceremony on June 21 and 22 in Rabat. The sovereign wealth funds and African investors have been aware of the importance of attracting international capital to finance the growth of the continent, resulting in this alliance.
ASIF is a platform dedicated to project development and investment promotion. “The purpose of this Forum is to promote the collective and concerted action of African sovereign and strategic funds for the benefit of the development and growth of the continent for a more resilient, inclusive, sustainable and autonomous Africa”, explained the management of Ithmar Capital.
The current members of ASIF are the Sovereign Fund of Angola, the Sovereign Fund of Djibouti, the Sovereign Fund of Egypt, the Gabonese Fund for Strategic Investments, the Infrastructure Investment Fund of Ghana, Ithmar Capital (Morocco), Nigeria Sovereign Investment, the Agaciro Development Fund (Rwanda) and the Sovereign Fund for Strategic Investments of Senegal.
This alliance between sovereign wealth funds must “unleash a new dynamic that allows overcoming the challenges linked to the financing of investment opportunities through the development of projects and thus structure the attraction of international capital to Africa.”
The investments targeted by the platform range from infrastructure to food security, to industrialization, urbanization and even climate change.