Libyan Investments in Africa: Social and Economic Development

Ahmed A. Kashadah, Managing Director of Libya Africa Investment Portfolio (LAP), talks about investment opportunities in Africa. “Africa is a growing market. Anyone will tell you that. We don’t see Africa as a source of raw materials. We would like to see it as an opportunity to invest and develop different sectors. For example we are investing in technology in Africa, we believe there is a big market for technology to be developed and expanded in Africa. We are going to have a telecommunication business in Africa and a satellite business in Africa. We do see technology as a way of entering the African region as we see a lot of room for development in that sector,” he says.

About LAP:

Libya Africa Investment Portfolio (LAP), established by the General People’s Committee Resolution 15 in 2006, dictates that the LAP is owned by the Libyan Investment Authority (LIA), which manages the vast majority of the nation’s oil reserves . LAP is run jointly by the Board of Trustees, chaired by the Prime Minister and LIA’s Board of Directors.

The Authority (LIA) seeks to expand investments outside Libya through this portfolio, diversify, and to achieve long-term returns that would develop the activities of the portfolio on different sectors and in various locations and investments degrees in the field of finance, tourism, telecommunications, oil and gas, agriculture and quarries.

Assets: US$ 5.3 billion