A high-level Libyan government delegation led by Fathallah Al-Zini the Minister of Youth, who is also Special Envoy of the (Tripoli based) Libyan Prime Minister for Africa, arrived in Guinea yesterday to discusses recovery of portfolio investment assets.
The visit aims to regain ownership of a major 2,150-hectare farm, the largest mango and pineapple farm in West Africa, as well as a juice factory and seven lakes.
The farm was confiscated in 2020 by a presidential decree issued by the former Guinean president, but the Guinean Supreme Court recently issued a ruling invalidating that decree.
The Libya Africa Investment Portfolio (LAIP), Libya’s main holding company for its African portfolio, says this step represents an important development in the policy of the Tripoli government in restoring and settling outstanding files related to Libyan investments in the African continent, and reflects the keenness of the Board of Directors of the LAIP to recover all the portfolio’s properties.
The delegation included Mustafa Abu Fanas, Chairman of LAIP, Khalifa Al-Shaibani, LAIP Board Member, and Mohamed Mahjoub, General Manager of the Libyan African Investment Company (LAICO).
The delegation began its visit with a meeting with the Minister of Youth of Guinea, Keamou Bogola Haba, who was received by the delegation with several Guinean officials, in the presence of members of the Libyan delegation, the Chargé d’affaires of the Embassy of Guinea to Libya, in addition to a representative of the Audit Bureau, the Director General of the Economic Holding Group, Abdelsalam Bayou, and several officials of the Group.
UN team of experts meets LAIP’s Libya Oil Company
