The Nigeria Sovereign Investment Authority (“NSIA” or “The Authority”), managers of Nigeria’s sovereign wealth fund, has won the 2018 Africa Investor (Ai) award for Sovereign Wealth Fund Infrastructure Investment Initiative, a second win for the Authority in this category has emerged winner of the same award in 2016. The organizer’s cited the Authority’s incubation and co-creation of Africa’s first infrastructure credit enhancement company called the Infrastructure Credit Guarantee Company Ltd (InfraCredit) as the factor that tipped the scale in NSIA’s favor.
InfraCredit, is a joint initiative of the NSIA and GuarantCo, a Private Infrastructure Development Group (PIDG). The company was set up to provide credit enhancement for local currency bonds issued on domestic infrastructure projects; a first in Africa. The company is currently wholly funded by the NSIA and successfully closed its first deal in Q1 2018 with Viathan, a captive power company.
This year’s Ai Infrastructure Investment Awards, which were held on the 18th of June 2018, were presented during the 4th annual Ai CEO African Infrastructure Project Developers Summit, which convened business and government leaders from across Africa.
In a release by the organizers of the Awards, Mr. Hubert Danso, CEO and Vice Chairman of Africa investor, said; “These awards are further evidence of the improving quality of infrastructure investments on the continent and the increasing global competitiveness of African infrastructure as an investable asset class. Ai is delighted to be able to provide this platform to honor these winners and recognize the transformative achievements of all public and private entrants.”
The Managing Director and Chief Executive Officer, Mr. Uche Orji said, “The Authority remains committed to key infrastructure projects that provide much-needed impetus to key sectors of the Nigerian economy. We consistently seek new ways to strengthen current practices in the design and development of infrastructure projects in Nigeria with a view to enhancing governance, attracting top investors, and enabling timely closure.
While our investments are in part driven by commercial returns, our passion to contribute to Nigeria’s economic resurgence and the transformation of our country’s infrastructure stock for the benefit of all who live in it remains our primary motivation. We thank the organizers and are delighted with the outcome of the awards” Mr. Orji concluded.
About the Nigeria Sovereign Investment Authority
The Nigeria Sovereign Investment Authority, a corporate body established by the Nigeria Sovereign Investment Authority (Establishment, etc.) Act 2011, is mandated to manage funds in excess of budgeted hydrocarbon revenues. Its mission is to play a leading role in driving sustained economic development for the benefit of all Nigerians through building a savings base for the Nigerian people, enhancing the development of Nigeria’s infrastructure, and providing stabilization support in times of economic stress. NSIA operates three mandate funds: the Stabilisation Fund, the Future Generations Fund, and the Nigeria Infrastructure Fund.
For more information please visit www.nsia.com.ng
NSIA E-mail: firstname.lastname@example.org
Tel: 23494610400 Ext: 411