Libya’s ACA meets with LAIP to tackle investment challenges

In a bid to address the pressing challenges facing Libya’s sovereign wealth fund, the Administrative Control Authority (ACA) hosted a high-level meeting with the leadership of the Libya Africa Investment Portfolio (LAIP) at its headquarters in Tripoli.

The ACA, chaired by Abdullah Qaderbouh, engaged in discussions with a delegation from LAIP, including Chairman Mustafa Abufanas, along with key executives from the Libyan African Investment Company.

The meeting centered on identifying and resolving the technical, administrative, and financial hurdles that have impeded LAIP and its subsidiaries in fulfilling their investment mandates. The primary focus was on providing effective guidance to ensure successful investment outcomes and navigate the complexities of the current investment landscape.

The ACA emphasised the importance of this dialogue in ensuring that LAIP achieves its investment goals amidst the prevailing challenges.

LAIP, established in 2006, focuses on international investments and building a diversified portfolio across various industries and regions. The fund aims to generate long-term, sustainable returns.

The Board of Directors of LAIP is currently led by Mustafa Abufanas, the former Minister of Economy. He was appointed by Prime Minister Abdul Hamid Dabaiba to implement decisive reforms within LAIP, aiming to achieve economic and investment sustainability.