The Board of Directors of the Libya Africa Investment Portfolio (LAIP) convened its first meeting of 2026 on Sunday, 14 June 2026, at LAIP’s headquarters in Tripoli, chaired by Mustafa Abofanas, Chairman of the Board, following the reappointment of the Board members pursuant to Resolution No. (6) of 2026 issued by the Board of Directors of the Libya Investment Authority (LIA).

During the meeting, the Board reviewed a number of agenda items and discussed various matters relating to LAIP’s projects and activities, in addition to considering a range of organisational and administrative matters.

Turning to the Misurata Cement Plant Project, the Board reviewed the report prepared by the project’s technical committee and instructed LAIP’s Executive Management to prepare a study for the establishment of a public joint-stock cement manufacturing company. The proposed company will be responsible for contracting, overseeing the implementation of the project, and managing and operating the plant.

The Board also reaffirmed its full support for the Libya Africa Transit Corridor Project, recognising it as one of LAIP’s strategic initiatives. The Executive Management was tasked with preparing a study for the establishment of a holding public joint-stock company to undertake the contracting, oversight, management and operation of the project.

As part of its oversight of subsidiary companies, the Board discussed arrangements for convening General Assembly meetings and approved a timetable aimed at completing the assemblies of all subsidiary companies before mid-August 2026.

The Board further approved LAIP’s separate financial statements for the financial years 2024 and 2025 as part of the completion of the relevant financial and administrative procedures.

The meeting forms part of the Board’s ongoing efforts to advance LAIP’s strategic plans and projects, support the achievement of its long-term objectives, strengthen its investments within Libya, and maintain its role as an active international investor.