Ethiopia and Mauritius have joined the Africa Sovereign Investors Forum (ASIF), the continental association of Africa’s Sovereign Wealth Funds. Both SWFs expressed their desire to explore collaborative opportunities and achieve mutual goals.
The sovereign wealth funds of Ethiopia and Mauritius have formally joined the Africa Sovereign Investors Forum (ASIF). ASIF is the continental association of Africa’s sovereign wealth funds.
At an official signing ceremony in Kigali, Rwanda, CEO of Ethiopian Investment Holdings Abdurehman Eid Tahir and the CEO of Mauritius Investment Corporation Jitendra Bissessur formally signed the membership agreement on 6th July 2023 during the 2023 Annual Meeting of the Africa Sovereign Investors Forum.
Obaïd Amrane, Chairman of ASIF welcomed the two SWFs to the club. Mr. Tahir and Mr. Bissessur both expressed their desire to explore collaborative opportunities with fellow ASIF member SWFs to strengthen the Forum and achieve mutual goals.
Ethiopian Investment Holdings was founded in 2022 with a mandate to “drive performance of public commercial assets through modern management practices, corporate governance standards and protection of public interest: and to “mobilize new investment through creation of multiple, innovative platforms”. It is endowed with over 30 public commercial enterprises and assets of the state and an AUM valued at approximately $45billion – which makes it one of Africa’s biggest SWFs.
Mauritius Investment Corporation (with an AUM of approximately $2bn) was created in 2020 at the heights of the COVID-19 pandemic. Its original mission – which it successfully executed – was to serve as a stabilization and recovery fund to help the country recover from the pandemic. After executing this task successfully, MIC has now assumed a long-term mission to serve as a strategic investment accelerator, investing to ensure the nation’s wealth enhancement.