LONDON – 26 January 2022. Today, the International Forum of Sovereign Wealth Funds (IFSWF), a global network of sovereign wealth funds from 40 countries, is pleased to announce that it has admitted the Fonds Gabonais d’Investissements Stratégiques (FGIS) as a full member.
FGIS is the asset manager of the Gabonese Sovereign Wealth Fund. Launched in 2012, FGIS was created to manage state assets to benefit future generations. Today, the Fund operates as a development fund investing in key sectors for Gabon’s economic transformation, namely the development of renewable energy and water management infrastructures, the financing of small and medium-sized enterprises, the development of land and urban planning projects as well as the support of social sectors such as health and education. Its mandate is aligned with the government’s Plan d’Accélération de la Transformation, a roadmap to catalyse the execution of priority projects to enhance the living conditions of the population. FGIS also supports Gabon’s commitment to mobilise financing to further preserve its green ecosystems.
By joining the IFSWF, FGIS voluntarily agrees to uphold the Generally Accepted Principles and Practices for governance, investment and risk management of sovereign wealth funds, known as the Santiago Principles®. By applying the Principles, IFSWF members demonstrate their commitment to professional, independent, and commercially orientated investment management as they seek to fulfil the mandates set for them by their owners.
Obaid Amrane, Acting Chair of the IFSWF, said:
“We are delighted to welcome FGIS to the IFSWF membership; the eighth full member from Africa. Indeed, the increasing number of African sovereign wealth funds demonstrates the strategic role they play in the long-term development of the continent. As part of our vibrant and growing IFSWF community, FGIS is committed to upholding high standards of corporate governance and will certainly benefit from our members’ knowledge and expertise.”
Akim Daouda, CEO of FGIS, said:
“FGIS strives to contribute to the Gabonese economy’s sustainable growth by following the highest international standards of transparency and governance. Joining IFSWF further emphasises that commitment. We specifically look forward to collaborating with fellow members across the globe to bring financial solutions to the pressing challenge that climate change poses to developing economies.”
About the International Forum of Sovereign Wealth Funds
The International Forum of Sovereign Wealth Funds (IFSWF) is a voluntary organisation of global sovereign wealth funds committed to promoting good governance and investment management practices through dialogue, research and self-assessment. The IFSWF also seeks to promote a deeper understanding of sovereign wealth fund activity amongst government and financial services institutions.
The Santiago Principles are a registered trademark of IFSWF Ltd.
Find out more at www.ifswf.org
Contact: Victoria Barbary, Director of Strategy & Communications, IFSWF, firstname.lastname@example.org
About Fonds Gabonais d'Investissements Stratégiques
The Fonds Gabonais d'Investissements Stratégiques (FGIS) was established in 2012 to manage the assets of the Gabonese state for the benefit of future generations. Today, the Fund is a key instrument supporting the transformation of Gabon’s economy by focusing on energy transition, SMEs financing, social sector support and land development. The FGIS manages the assets of the Gabonese State’s portfolio with a focus on long-term financial performance and high social and environmental impact.
Find out more at https://fgis-gabon.com/en/
Contact: Aunel Loumba, Head of Communications and Public Relations, FGIS, email@example.com