[Morocco] Ithmar Capital partners with Ghana investment Fund to deepen investment across Africa
The Moroccan sovereign wealth fund Ithmar Capital and Ghana Infrastructure Investment Fund (GIIF) have concluded a strategic partnership to explore co-investment opportunities in many areas and in several African countries.
The partnership demonstrates the willingness of the two countries to establish the necessary bridges to deepen bilateral cooperation and strengthen their business relationships, as well as to work together on investment at the continental level.
According to the Strategic Partnership Agreement (SPA) signed by Ithmar Capital and the Ghana Infrastructure Investment Fund, the two entities are committed to explore co-investment opportunities in strategic sectors in Ghana, Morocco and other African countries.
They’re also committing to share their knowledge and expertise in strategic economic sectors, using and exploiting existing resources.
The two investment funds should also collaborate in the research and dissemination of best practices, and provide guidance for strengthening the capacity of the two countries in the management of their resources.
Taking into account the investment criteria of both parties, the SPA will seek to create channels for the exchange of views and information on joint investment opportunities.
As for the signed Memorandum of Understanding, it foresees the active participation of the Republic of Ghana in the Green Growth Infrastructure Facility for Africa (GGIF), an initiative that aspires to accelerate Africa’s transition to a green economy launched at the 22nd United Nations Climate Change Conference (COP22), held in November 2016 in Marrakech.
GGIF is structured as a private capital fund which aims to attract private investors with interest in Morocco, and the rest of Africa, who are looking for responsible and green investment opportunities.
According to the management of the Moroccan Sovereign Wealth Fund Ithmar Capital, partnership proves the willingness of Morocco and Ghana to become major players in investment and cooperation in Africa.
The objective is to enable the continent to achieve its own model of economic and social development, to strengthen the competitiveness of its industries and to fill its infrastructure gap.