9 African sovereign funds sign deal to spur investment in continent

Nine African sovereign wealth funds signed a deal on Monday in Morocco to spur investment across the continent.

The deal was signed on the sidelines of the first meeting of Africa Sovereign Investors Forum (ASIF), a platform bringing together sovereign funds of Angola, Djibouti, Egypt, Ethiopia, Gabon, Ghana, Morocco, Nigeria and Rwanda.

CEOs of African Sovereign Funds taking part at the event said the focus for ASIF will be on mobilizing capital and equity, promoting green projects and investing in logistics to improve interconnectivity within the continent.

The African sovereign funds which signed the deal include Morocco's Ithmar Capital, Nigeria Sovereign Investment Authority, Ghana Infrastructure Investment Fund, Gabon's FGIS, Rwanda's AGACIRO, Angloga’s Fundo Soberano, the Sovereign Fund of Egypt, Senegal's FONSIS and Djibouti's Sovereign Fund.

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