The African Sovereign Investors Forum (ASIF) recently held its third annual meeting in Mauritius, under the theme “Sustainable Development: Navigating Transitions, Catalyzing Opportunities, and Driving Impact.”

Hosted by the Mauritius Investment Corporation (MIC), this year’s edition focused on development, sustainability, and capital mobilization, according to a statement from Ithmar Capital.

The opening session featured keynotes from Obaid Amrane, President of ASIF and CEO of Ithmar Capital, Mark Florman, President of MIC, and Harvesh Seegolam, Governor of the Bank of Mauritius. The event saw participation from leaders of African sovereign funds and representatives from international investment institutions and multilateral development bodies.

Discussions centered on the continent’s development prospects, highlighting investment projects and opportunities, and emphasizing the role of African funds in financing innovative and sustainable initiatives. This edition marked the first time participants addressed Impact Investing and its potential to tackle Africa’s challenges while fostering inclusive economic growth and ensuring a sustainable future for coming generations.

Additionally, this year’s meeting welcomed three new African sovereign funds: Botswana’s Pula Fund, Libya’s Libyan Investment Authority, and Guinea’s Special Investment Fund. This brings ASIF’s membership from 10 to 15 since its launch in Rabat in June 2022.

Since its inception, ASIF has been instrumental in launching the Alliance for Green Infrastructure in Africa (AGIA) in partnership with the African Development Bank (AfDB) and formalizing a partnership with UNCTAD to facilitate investment towards Sustainable Development Goals (SDGs) in Africa.

ASIF, a pioneering initiative, is a multilateral platform that brings together African sovereign investors to establish a collaborative framework among key players. The initiative aims to enhance institutional cooperation among its members and accelerate capital mobilization for the continent’s benefit.

Founded in 2011, Ithmar Capital is a strategic investment fund dedicated to supporting Morocco’s economic development. It promotes investment in strategic national sectors by developing high-impact, transformative projects.