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Egypt’s TSFE becomes full member of IFSWS

Egypt’s TSFE becomes full member of IFSWS

Arab Finance: The Sovereign Fund of Egypt (TSFE) has become a full member of the International Forum of Sovereign Wealth Funds (IFSWS), the IFSWS announced in a press release on May 17th.

Accordingly, TSFE will voluntarily endorse the Generally accepted Principles and Practices for governance, investment, and risk management of sovereign wealth funds, known as the Santiago Principles.

It is worth noting that the TSFE has been an associate member of the IFSWF since 2019.

The IFSWS has also extended its footprint in Africa by approving both the Ethiopian Investment Holdings (EIH) and the Fonds Souverain de Djibouti (FSD) as associate members.

Associate memberships are granted up to three years to institutions at early stages of becoming sovereign wealth funds.

“These new memberships represent the spread of the sovereign wealth fund model across Africa, and the appetite of these institutions to conform to international best governance practices to ensure the best outcomes for their citizens,” Acting Chair of the IFSWF Obaid Amrane said.

“We hope that the growth of IFSWF’s African membership will help drive co-operation and co-investment between sovereign wealth funds across the continent and around the world,” Amrane added.

Based in London, the IFSWD is a voluntary organization of global sovereign wealth funds from 40 countries, aiming to promote positive governance and investment management practices.

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