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Rabat – Ithmar Capital co-hosted the Co-Investment Roundtable of Sovereign and Pension Funds (CROSAPF) along with the Korean Sovereign Fund and the Korea Investment Corporation, in Marrakech this March 29.
The event was attended by representatives of the world’s sovereign wealth funds, including Russia (RDIF), the Republic of Azerbaijan (SOFAZ), Malaysia (Khazanah Nasional), Korea (KIC), France BPI and CISC) of the Sultanate of Oman (SGRF) as well as the Investment Corporation of Dubai (ICD), which will organize this year’s annual CROSAPF summit in Dubai.
This event which brings together various financial actors, focused on the attractiveness of investment in Africa by following the logic of South-South cooperation advocated by King Mohammed VI. Several African institutions, in particular the sovereign funds of Senegal (Sovereign Investment Fund for Strategic Investments), Gabon Gabonese of Strategic Investments), Rwanda (Agaciro Development Fund) and Nigeria (Nigeria Sovereign Investment Authority) participated in this event.
It was also an opportunity to highlight the importance of responsible investment and sustainable development, which is increasingly attracting institutional investors. Finally, this Working Committee also addressed global investment trends and the opportunities and challenges of co-investment.
The CROSAPF also saw the participation of the main Moroccan economic players, allowing them to connect with international institutional investors.
Many speakers stressed the importance of Morocco’s accession to ECOWAS (Economic Community of West African States), which has a GDP of nearly $680 billion and is the 20th largest economy in the world.
By integrating into ECOWAS, Morocco is opening not only to a market of more than 750 million inhabitants but also to the benefit of member countries with its various expertise in the field of investment and renewable energies.
Moreover, since Morocco is regarded by international institutional investors as an investment hub targeting Africa, the entry of the Kingdom will encourage them to consider ECOWAS as a genuine common market with very high potential.
As part of this dynamic, Ithmar Capital, the Moroccan sovereign wealth fund, was mandated to hold the presidency of CROSAPF in 2018, showing the interest of the international financial community for Morocco and placing the Kingdom at the heart of global investment.
In this regard, Morocco will be hosting the annual CROSAPF summit in 2018, which will bring together in Marrakesh the most important decision-makers in the field of global finance. This will be the first time that this annual summit will be held in Africa and will put the continent at the center of debates at the summit.
