Public Management

Djibouti announces the official launch of the Djibouti Sovereign Fund

Wednesday, 16 September 2020 15:16
Djibouti announces the official launch of the Djibouti Sovereign Fund

(REPUBLIQUE DE DJIBOUTI ) - The activities of the Djibouti Sovereign Fund (Fonds Souverain de Djibouti – FSD) were officially launched on Monday, September 14 at the presidential palace in the capital. Following the implementation decrees promulgated on June 24, 2020, a special inter-ministerial committee was held under the high authority of President Ismaël Omar Guelleh, in the presence of the Prime Minister, members of the government and the Fund’s administrators.

The Sovereign Fund presents itself as an ambitious and innovative financial instrument aimed at turbocharging the country’s development. It will strive to modernize the country’s economy, to boost the growth of a competitive private sector and to enhance the development of the public productive sector, one of the essential instruments of this transformation.

Among the personalities present were the co-chairmen of SouthBridge, Mr. Donald Kaberuka (in videoconference) and Lionel Zinsou, as well as Mr. William Ediko, partner, who advised the Republic of Djibouti in setting up the Fund. Also present, Mr. Amir Jahanguiri, partner at law firm Willkie Farr & Gallagher, who advised the government for this project.

The holding of the inter-ministerial committee was also an opportunity to formalize the appointment of the Managing Director of the FSD, the Senegalese Mamadou Mbaye. A seasoned professional, Mr. Mbaye is a graduate of École Polytechnique and École nationale de la statistique et de l’administration économique (ENSAE) in France. He brings with him an outstanding experience in both the private and public sectors. He was previously Vice-President of the Sovereign Fund for Strategic Investments of Senegal (Fonsis).

The creation of the FSD is a flagship measure of the “Vision 2035”, a long-term development strategy of the Republic of Djibouti which aims to position the country as a leading commercial, logistics, port and digital hub.

Established in the form of a private limited company whose sole shareholder is and will remain the State of Djibouti, the Fund aims to “collect” national wealth to leverage Djibouti’s ability to invest quickly. The FSD will allow better control of projects while focusing on the national and strategic interests of the country. The FSD will play the role of a strong and committed partner sought by external and domestic investors.

The Fund acts both for growth and for today’s employment while working on creating a diversified economy and building reserves for new generations. It is an intergenerational instrument that brings together the requirements of the short term with those of the long term.

Finally, transparency and governance are key elements of the Fund’s legitimacy and credibility. The FSD meets the highest international standards in terms of the independence and accountability of its management bodies, corporate governance, transparency and performance reporting, in accordance with Djibouti law and the Santiago Principles.

djibouti annonce le lancement officiel

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Telecom


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.