LAICO: Developing Africa Through US$ 1.2 billion of Investment Projects

Bashir M. Elmadani, Managing Director of Libyan African Investment Company (LAICO) presence LAICO and its investments in Africa.

According to Elmadani, “LAICO is now well-known in Africa, because we are participating in over 21 countries in Africa. Our investments are mainly in the real estate and tourism sector. The total of our current investments is approximately US $1.2 billion.”

What about the economic effect in Africa? Elmadani is clear; ” If you take the number of employees in the countries where we have an investment, we actually participate in the social employment of these countries. It is our investment and money, but these countries get a lot of benefits because it is their location. These countries benefit in many ways, for example from certain tax benefits on the services, employment, the improvement of their economy etc. We try to participate in the development by doing what the African governments themselves would like to do in their own countries.”