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Sovereign Wealth Funds Briefing 07.Feb 2014

Posted on 07 February 2014 by VRS |  Email |Print

The Managing Director, Chief Executive Officer, Nigeria Sovereign Investment Authority (NSIA), Uche Orji yesterday described as baseless, fear that the Sovereign Wealth Funds (SWFs) will not succeed.
Orji who spoke during the 2014 University of Port Harcourt (UNIPORT), Founders Day cerebration at the University Campus in Port Harcourt, the Rivers State capital, said the initiative will succeed, adding that the Fund has already identified 18 key areas of investment. He said five main areas of power, health, real estate, agriculture and motorway (monolines) are already being addressed………………………………………..Full Article: Source

Posted on 07 February 2014 by VRS |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA), managers of the country’s $1 billion sovereign wealth fund, has announced a $10 million agricultural financing to boost investment within the sector and enhance economic diversification.
“Agriculture is a sector of strategic importance to the NSIA and an area we see opportunities for significant growth and profit through the facilitation of the enhancement of Nigeria’s critical agriculture infrastructure,” said Uche Orji, CEO of NSIA………………………………………..Full Article: Source

Posted on 07 February 2014 by VRS |  Email |Print

The leadership of the All Progressives Congress (APC) in the House of Representatives has filed an originating summon at a Federal High Court, Abuja challenging the legal status of the excess crude oil account.
The suit, no.FHC/ABJ/CS/30/2014, was filed January 22 by legal counsel, Mr. Yemi Candide-Johnson (SAN), on behalf of the plaintiff: the House Minority Leader, Femi Gbajabiamila; and others who asked the court for the proper interpretation of Section 162 of the 1999 Constitution………………………………………..Full Article: Source

Posted on 07 February 2014 by VRS |  Email |Print

Qatar National Bank (QNB),50 percent owned by sovereign wealth fund Qatar Investment Authority, is aiming to become the largest lender in the Middle East and Africa, its finance head said on Thursday, as the bank continues to look beyond its home market for growth opportunities.
Currently the biggest bank in the Gulf region, it is looking for acquisition targets in Turkey, Morocco and sub-Saharan Africa, Chief Financial Officer Ramzi Mari told Reuters in an interview at the bank’s Doha headquarters………………………………………..Full Article: Source

Posted on 07 February 2014 by VRS |  Email |Print

Three investment consortia - two involving Gulf government-owned funds - plan to lodge indicative bids for Australian state-owned toll road company Queensland Motorways on Friday, sources close to the transaction said.
The bidders for Queensland Motorways include a consortium led by Australia’s Hastings Funds Management which also includes sovereign wealth fund the Kuwait Investment Authority, Spanish toll road operator Abertis Infraestructuras and Dutch pension fund APG Algemene Pensioen Groep. Transurban Group, a major toll road operator in New South Wales and Victoria states, will team up with superannuation fund AustralianSuper and state-run Abu Dhabi Investment Authority to make another bid………………………………………..Full Article: Source

Posted on 07 February 2014 by VRS |  Email |Print

A proposal by House Democrats to provide constitutional protection for the Alaska Permanent Fund - which provides the yearly check Alaskans receive for their share of state’s oil wealth - got a cool response Thursday from some majority members, who indicated it could limit the options lawmakers have if the state falls on tough financial times.
House Speaker Mike Chenault, R-Nikiski, said legislatures have shown restraint since the Permanent Fund was enacted, but he said blocking off dividends would provide fewer choices if state government exceeded its available revenues………………………………………..Full Article: Source

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September 2014
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