LAIP puts overseas asset protection at centre of LAICO review

The Libyan African Investment Company (LAICO) approved changes to its organisational structure and operating regulations on Thursday as its general assembly reviewed plans to safeguard overseas assets and improve their management.

Meeting at the Libya Africa Investment Portfolio’s (LAIP) headquarters in Tripoli on 29 October, the assembly examined the subsidiary’s business plan and future strategy against its parent organisation’s investment objectives.

The discussions formed part of LAIP’s oversight of its subsidiaries, bringing together a review of LAICO’s performance, financial reporting and strategic priorities.

Members adopted a revised organisational structure and amendments to the administrative, financial and investment regulations governing the company’s operations.

The assembly also ratified the financial statements and auditor’s report for 2014–2020, while reviewing the financial statements for 2021–2025. It endorsed the appointment of an external audit firm and agreed its fees.

LAICO’s business plan was considered in the context of LAIP’s objectives to protect overseas assets, improve the efficiency of their management and support sustained financial and operational performance.

Members examined the board of directors’ report covering the period from its appointment to the end of June 2026. They also reviewed the company’s activity report and the supervisory board’s report for 2023–2025 and the first half of 2026.

The meeting assessed progress in implementing resolutions adopted at the 2019 and 2021 general assemblies, including the measures taken to carry those decisions forward.