MUSCAT, AUG 30
A series of strategic agreements inked with the West African state of Burkina Faso over the weekend effectively expand the global investment footprint of Oman Investment Authority (OIA) and its subsidiaries.
In a press statement, the Authority added that the agreements diversify its foreign investments, enhance strategic partnerships and achieve sustainable returns for the Sultanate of Oman. The pacts were signed during the visit of Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Authority (OIA), to Burkina Faso.
The agreements target key sectors such as energy, mining, agriculture, financial investment and food security, which are aligned with OIA’s strategy to diversify its international investments and strengthen global partnerships. OIA aspires to reinforce its reputation as a trusted investment partner, strengthen its subsidiaries’ presence in international markets — especially in supply chains and logistics to contribute to food security — and create new opportunities for economic and investment cooperation with African nations.
The first agreement establishes a broad investment partnership with the Government of Burkina Faso in energy, minerals and agriculture, aiming to create sustainable added value for both parties.
The second agreement, between Minerals Development Oman and National Mineral Participation Company of Burkina Faso (SOPAMIB), targets the establishment of a joint venture in gold mining sector with the highest standards of governance, safety and sustainability.
The third agreement, between Oman Food Investment Holding Company and Burkina Faso’s Ministry of Agriculture, aims to invest agricultural projects, including rice cultivation and other strategic crops.
President Ibrahim Traoré, President of Burkina Faso, welcomed the President of OIA, who conveyed the greetings and best wishes of progress, prosperity and stability from His Majesty Sultan Haitham bin Tarik to President Ibrahim Traoré. In return, President Traoré conveyed his greetings and best wishes of good health and well-being to His Majesty. He also wished the Omani people further progress and prosperity.
Oman Investment Authority (OIA) is the investment arm of the Sultanate of Oman. It is mandated with managing, investing and growing the Sultanate of Oman’s assets locally and internationally. Its investment funds are geographically diverse, with investments on every continent and cover a wide range of sectors, including food and fisheries, energy, logistics, Information and Communication Technology (ICT), public services, financial and investment services, tourism, mining, manufacturing and aviation. It plays a key role in driving sustainable economic development and achieving Oman’s vision of becoming a more attractive investment destination.
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