Egypt’s Sovereign Fund becomes a full IFSWF member

The TSFE had been an associate member of the IFSWF since 2019.

According to the IFSWF, the TSFE 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 being a full member.

“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,” said the IFSWF.

“We are delighted to elevate the TSFE to full membership and to welcome EIH and FSD as associate members. 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. We hope that the growth of IFSWF’s African membership will help drive cooperation and co-investment between sovereign wealth funds across the continent and around the world,” said Acting Chair of the IFSWF Obaid Amrane.

For his part, CEO of the TSFE Ayman Soliman stated that the move represents the fund’s commitment to upholding the Santiago Principles and implementing international best practices across its activities, enabling it to be the partner of choice for international and local investors in the Egyptian market as well as using the fund’s projects as a catalyst for change towards more sustainability and transparency.