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Nigeria’s SWF to Develop Infrastructure Platform with AFC

oil_refineDeveloping infrastructure in sub-Saharan Africa is a capital intensive, intricate undertaking requiring investors with a technical capacity. Large pools of assets that are long-term oriented like sovereign funds and pensions can play a role in financing infrastructure. The Africa Finance Corporation (AFC), a multilateral institution, and the Nigeria Sovereign Investment Authority (NSIA) signed a Memorandum of Understanding (MoU) that details strategic collaboration on building an infrastructure investment platform. To jumpstart critical infrastructure investment in Nigeria, both entities plan to support the financing, development and operational aspects of future infrastructure projects.

Currently, infrastructure investment activity in sub-Saharan Africa has been heavily allocated toward natural resources and industrial activities. Vital infrastructure deficits affecting human prosperity and economic growth are found in the transportation and power sectors.

Created in May 2007, the Africa Finance Corporation with a capital base of US$ 1 billion aims to stimulate private sector investment in infrastructure by filling a critical void. Partnership with organizations like the AFC assists the Nigerian Infrastructure Fund of fulfilling its mandate to increase investment in Nigerian infrastructure.

Africa Finance Corporation Shareholders
African Financial Institutions 47.6%
Central Bank of Nigeria 42.5%
Industrial and Corporate Shareholders 9.8%

UNICEF and NBIM to Host Meetings on Children’s Human Rights

The United Nations Children’s Fund (UNICEF), a United Nations programme headquartered in New York City, has partnered with Norges Bank Investment Management (NBIM) to facilitate a series of meetings between companies to discuss issues surrounding children’s human rights.

According to the news release, “the network will facilitate dialogue between leading brands and retailers in the garment and footwear industry to strengthen children’s rights.”

NBIM is invested in many listed companies and have invited them to join a network to tackle these issues. Over the next two years, the organizations plan to hold three workshops as well as quarterly meetings surrounding these issues.

“Over time, we hope and expect that the network will contribute to improved market practices among companies and greater respect for children’s rights,” says Carine Smith Ihenacho, Global Head of Ownership Strategies, in a NBIM press release.

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SouthGobi’s CEO Arrested, CIC Struggles with Investment

The China Investment Corporation (CIC) has long struggled with its investments in coal assets, specifically in globally-listed coal miner SouthGobi Resources Ltd, which operates its flagship coal mine in Mongolia. In November 2009, CIC and SouthGobi Resources inked a convertible debenture deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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