Attijariwafa Bank and Invest AD launch asset management fund in Africa

Moroccan  Attijariwafa Bank has announced its decision to partner with Invest AD, a subsidiary of the sovereign wealth fund of Abu Dhabi Investment Council, to jointly launch an asset management fund for markets in Africa, specializing in investment in African listed companies.
 
The signing of the protocol was completed yesterday, Tuesday, Nov. 13, by Mohamed El Kettani and Boubker Jai, respectively CEO and DG Attijariwafa Bank and Nazem Al Kudsi President of Invest AD.
 
On this occasion, it was said to be impressed by the ambitious and the large-scale Moroccan African Bank, which also has European and Middle Eastern antennas.
 
The asset management fund, the result of this alliance will be managed jointly by the two allies from the offices the CFC 'Casablanca Finance City' and Invest AD.
 
The MoU has focused on parallel collaboration between the two signatories, the Middle East, and a subsidiary of Attijariwafa Bank located in the Dubai International Financial Centre, Attijariwafa Bank Middle East Ltd, will relay these joint investment operations .
 
It will be an exchange of portage, Invest AD will open the doors to the Middle East to the Moroccan bank, while the latter will provide the Abu Dhabi investor, brokerage services and funding in key African countries.
 
Commenting on this point, Nazem Al Kudsi explained that "The economic emergence of Africa is fueled by rising incomes and standards of living of a large part of the population, and that on the whole continent. This emergence is due in part to the growth of inter regional trade and commercial ties that develop. Africa is no longer divided by the Sahara desert, "saying that" Africa will become the most attractive emerging market in terms of investment over the next decade. "