IsDB Hosts 'Fourth Sovereign Investments Forum" to Stimulate Economic Growth in Western Africa

  • Building connections between Gabon and the rest of the world
  • Bringing together investors and financial institutions with policy and decision makers
  • Encouraging SWF to invest in Science, Technology and Innovation and value chain development and build partnerships in MCs

9th May 2018 – His Excellency Dr. Bandar Hajjar, President of the Islamic Development Bank Group, will today open the ‘4th Sovereign Investments Forum’ in Libreville, Gabon, organised by the IsDB Group. The two-day conference, attended by the President and Prime Minister of the Republic of Gabon, will encourage Public Private Partnerships (PPP) and shine a light on the projects open to investment in Gabon and Western Africa, bringing together investors from government funds, corporations and financial institutions with policy and decision makers from Gabon’s investment and business community. 

This is the fourth annual forum organised by the IsDB, following events in Jeddah, Rabat and Bali in previous years. The forum will focus on Gabon and West Africa’s specific growth needs and ultimately explore how IsDB Group can help provide support and assistance to meet Gabon’s goal of becoming an emerging market by 2025.

It will promote cooperation between government and pension investment funds and explore how best to allocate capital across Africa, within IsDB member countries and around the world. The forum will bring together investors from government funds, corporations and financial institutions with policy and decision makers from Gabon’s investment and business community. 

H.E. Dr. Bandar M. H. Hajjar said: "The primary objective of the forum is to increase awareness about the role and mandate of the Sovereign Wealth Fund and to build a network of relationships between them and the investment institutions in IsDB’s member countries – hence enable us to deliver on our mandate as a facilitator for growth.”

The IsDB believes it is crucial to add to the value chain of countries at their source and that participation in the value chain of the global economy is vital for achieving high and sustainable economic growth. The $500m Transform Fund that the IsDB launched last month with the goal of accelerating science, technology and innovation-led solutions in the developing world, is an example of the IsDB’s belief that economic growth is the best route out of poverty. 

Other key agenda highlights will include an interview on socially responsible investing, a panel discussion entitled ‘Finding Yield in IsDB Member Countries’ and a deep dive panel into ‘The Role of African Government Funds: Impact of a New World Order’. Esteemed speakers will include H.E. Dr. Bandar M. H. Hajjar, President, IsDB Group, Serge Mickoto, CEO, Fonds Gabonais d’Investissements Strategigues, Elizabeth Nkumbula, Commissioner and CEO, Workers Compensation Fund Control Board, Ousmane Dore, Director, General African Development Bank and Uche Orji, Managing Director and CEO, Nigeria Sovereign Investment Authority.

The IsDB has recently established a fund to finance economic feasibility studies and provide consultancy and training for project implemented under PPPs. This will enable targeting sectors, products, and services for which the relevant country has a comparative advantage, in addition to utilising advancements in the areas of technology and knowledge to enable the country to integrate into global value chains. The Public Private Partnerships will help harness the financial as well as innovative strengths of the private sector, improving project quality and efficiency. It will also reduce the burden on the state budget by spreading risks between partners.