The Moroccan sovereign wealth fund Ithmar Capital was elected, by a large majority, to chair the Board of Directors of the International Forum of Sovereign Wealth Funds (IFSWF) at its 13th annual meeting for a three-year term.

“This election, a first for an African sovereign wealth fund, is a further illustration of the Kingdom’s leadership acquired through the enlightened guidance of His Majesty King Mohammed VI,” said a statement by Ithmar Capital.

The first Board of Directors of the IFSWF chaired by Ithmar Capital was held on Thursday, January 20 by video conference, the statement said, adding that the work and discussions focused on the strategic projects underway, multi-year plans and the program of the year 2022 of the Forum.

During its mandate, Ithmar Capital intends to support the themes related to the green economy and more generally promote the role of investment as a lever for accelerating sustainable and inclusive development.