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 term of 3 years.
“This election, a first for an African sovereign wealth fund, is a new illustration of the leadership of the Kingdom acquired thanks to the enlightened leadership of His Majesty King Mohammed VI,” said a statement from Ithmar Capital.
The first Board of Directors of the IFSWF executed by Ithmar Capital was held this Thursday, January 20 by videoconference, said the press release, specifying that the work and discussions focused mainly on the strategic projects in progress, the multi-year plans and the program for the year 2022 of the Forum.
During his tenure, Ithmar Capital is counting in particular on themes relating to the green economy and more generally to promote the role of investment as a lever for accelerating sustainable and inclusive development.
And to note that during the last annual meeting, Ithmar Capital had organized a panel on the post-pandemic challenges and opportunities facing African countries and the role of public and private investors more, particularly funds sovereigns, for a resilient and sustainable recovery.
The International Forum of Sovereign Wealth Funds (IFSWF) is a non-profit organization created in 2009 with the main missions of strengthening collaboration between funds and promoting best investment and governance practices. The IFSWF comprises 40 member sovereign funds with assets under management of 4.6 trillion dollars.
Created in 2011, Ithmar is a strategic investment fund whose primary purpose is to support Morocco’s economic development. A multi-sector fund, Ithmar aims to promote investment in all national strategic sectors by developing structuring and transformational projects with a strong impact.
A strategic relay between national priorities and private investment, Ithmar acts as a trusted third party and adopts a logic of long-term intervention, thus consolidating its position as a wise and patient investor.