FOOD SECURITY: Three SWFs Sign a Deal in Rabat for African Investment

Posted on 06/20/2022

In the city of Rabat, at a forum attended by King Mohammed VI of Morocco, three Gulf sovereign wealth funds signed to promote investment in Africa, alongside nine from within the continent. The Abu Dhabi Investment Authority (ADIA), Kuwait Investment Authority (KIA) and holding firm Abu Dhabi Developmental Holding Company (ADQ) at the sidelines of the first meeting of the Africa Sovereign Investors Forum (ASIF) agreed to promote investment in Africa as food security concerns increase. The African sovereign funds that signed the deal include Morocco’s Ithmar Capital, Nigeria Sovereign Investment Authority, 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 organizers gave no details on how exactly the Gulf funds will support their African counterparts.

There are a number of official SWF event platforms including:

1. International Forum of Sovereign Wealth Funds (IFSWF) / UK-Based / Focus: Santiago Principles and Transparency
2. Sovereign Wealth Fund Institute (SWFI) / US-Based / Focus: Allocations, Strategy, Investments, and Governance
3. One Planet Summit Sovereign Wealth Fund Coalition / France-Based / Focus: ESG
4. Africa Sovereign Investors Forum / Morocco-Based / Focus: Africa
5. Co-investment Roundtable of Sovereign and Pension Funds (CROSAPF) / Hosted by KIC / Focus: Co-Investments / Discontinued.
6. GIC Insights / Hosted by GIC / Focus: GIC and its partners.

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