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LAICO General Assembly reviews activities and plans and adopts a number of resolutions

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The Ordinary General Assembly of the Libyan African Investment Company (LAICO), a subsidiary of the Libya Africa Investment Portfolio (LAIP), convened on the morning of Thursday, 29 October 2026, at LAIP’s headquarters in Tripoli. The meeting addressed a range of matters relating to the company’s activities, financial and organisational affairs, and future plans.

The General Assembly reviewed the Board of Directors’ report covering the period from the Board’s appointment to the end of the first half of 2026, alongside the company’s activity report for the financial years 2023–2025 and the first half of 2026.

The General Assembly also reviewed the Supervisory Board’s report for the financial years 2023–2025 and the first half of 2026. It examined progress in implementing resolutions adopted at previous General Assembly meetings held in 2019 and 2021, together with the measures taken in this regard.

On organisational matters, the General Assembly discussed and approved the company’s amended organisational structure to reflect the nature of its activities and responsibilities. It also approved amendments to the regulations governing the company’s operations, including its administrative, financial and investment regulations, as well as other relevant regulations.

The General Assembly ratified the financial statements and the auditor’s report for the financial years 2014–2020 and reviewed the financial statements for 2021–2025. It also ratified the appointment of an external audit firm to audit the company’s accounts and determined the firm’s fees.

The General Assembly reviewed the company’s business plan and future strategy in light of LAIP’s strategy and objectives, which aim to safeguard LAIP’s overseas assets and improve the efficiency of their management, thereby supporting sustainable financial and operational performance.

The meeting forms part of LAIP’s ongoing oversight of its subsidiaries, helping to improve their operational performance, strengthen governance and advance LAIP’s strategic vision.

Libya Oil Company general assembly reviews operations and future plans and approves key resolutions

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The Ordinary General Assembly of Libya Joint Oil Company, one of the Libya Africa Investment Portfolio’s (LAIP) subsidiaries in Libya, convened on Tuesday morning, 27 October 2026, at LAIP’s headquarters in Tripoli. The meeting considered matters relating to the company’s operations, financial position and organisational affairs, alongside its future plans.

The Assembly reviewed the Board of Directors’ activity report covering the period from its appointment through the first half of 2026, together with the Supervisory Board’s report. It also reviewed the implementation status of resolutions adopted at previous General Assembly meetings held in 2021 and 2023.

On organisational and financial matters, the Assembly discussed and approved amendments to the company’s organisational structure and internal regulations, including its administrative and financial regulations and delegation of authority manual. It also approved the financial statements and auditor’s reports for the financial years 2017–2022, resolved to reconstitute the Supervisory Board, and ratified the appointment of the external audit firm for the financial years 2023–2026 and agreed its fees.

The Assembly also reviewed the company’s business plan and future strategy, alongside progress in implementing the rehabilitation and development agreement between LAIP and its subsidiary, OLA Energy Holdings. The agreement forms part of LAIP’s efforts to strengthen its domestic investments and support integration across its subsidiaries.

The meeting forms part of LAIP’s ongoing oversight of its companies in Libya and abroad, supporting improvements in operational performance and strengthening corporate governance.

LAIP honoured at the fifth Al Baraka Summit in London

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Libya Africa Investment Portfolio (LAIP) took part in the fifth alBaraka Summit, held in London on 13–14 October 2026, following an invitation from the Secretary General, alBaraka Forum for Islamic Economy.

Held under the theme “Ethics in Action: Rebuilding Foundations and Advancing the Global Impact of the Islamic Economy,” the summit brought together policymakers, economists and representatives of financial and investment institutions from around the world to discuss the evolving role of Islamic economy and the importance of ethical principles in shaping a more sustainable and inclusive financial landscape.

The event provided a platform for exchanging expertise, discussing developments in the global economic and financial sectors, and strengthening ties between regional and international institutions. These areas of discussion are consistent with LAIP’s focus on responsible investment, sustainable development and the development of strategic partnerships.

In recognition of its participation, LAIP received a commemorative shield from the Forum at the conclusion of the summit. Dr Akrem Omar Aldeeb, a member of LAIP’s Board of Directors, accepted the shield on behalf of the Portfolio.

LAIP’s participation reflects its continued engagement with specialised economic forums and its commitment to exchanging knowledge, building institutional relationships and fostering cooperation with relevant stakeholders in support of its strategic objectives.

LAIP board reviews committee work and approves job descriptions

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The Board of Directors of the Libya Africa Investment Portfolio (LAIP) held its sixth meeting of the year at its headquarters in Tripoli on the morning of Sunday 27 September 2026. The board discussed a range of agenda items and took a number of decisions.

The board reviewed the minutes of meetings held by its specialist committees and considered matters referred to it for decision. It also considered a report by board members on their visit to Egypt.

On organisational matters, the board discussed and approved LAIP’s job descriptions, as proposed by the executive management. This forms part of ongoing efforts to improve organisational efficiency and the working environment.

The meeting formed part of the board’s continuing oversight of LAIP’s activities, supporting the delivery of its strategic objectives, strengthening governance and promoting continued institutional development.

Transit Corridors High Committee reviews preparations for next phase

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The High Committee of the Libya–Africa Transit Corridors Project held its regular meeting on Wednesday 23 September 2026 to review progress on key areas of work and discuss the steps needed to prepare the project for its next stages.

Discussions focused on meeting the remaining technical and institutional requirements, coordinating work across the sectors and organisations involved, and setting priorities and a programme of work for the next phase. The aim is to build on what has already been achieved and ensure that preparations proceed in a coordinated and carefully planned manner.

The Committee also considered ideas and proposals from a neighbouring country concerning the possibility of establishing additional transit routes. These were discussed in light of regional interest in the project and the opportunities such routes could offer for closer integration and mutual benefit.

The project envisages an integrated, sustainable system encompassing transport, services, telecommunications and energy. This vision continues to guide the Committee’s work, with the aim of strengthening the strategic position of Libya and its ports, developing trade and logistics services, and opening up new opportunities for regional and international economic cooperation.

The meeting forms part of the Committee’s continuing efforts to complete the technical groundwork and finalise the coordination arrangements needed for the project’s next stages. These preparations are intended to support the project’s long-term sustainability and help achieve its strategic objectives.

RASCOMSTAR-QAF General Assembly reviews performance and strategic plan

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RASCOMSTAR-QAF’s General Assembly met in Tripoli on Monday morning, 21 September 2026, to review the company’s performance and consider its strategic plan.

The Assembly examined the Board of Directors’ report on the company’s financial position, together with a report on its activities and operations. Members also discussed the strategic plan for the period ahead and a number of matters relating to the development of the business.

The meeting was held at the headquarters of the Libya Africa Investment Portfolio (LAIP), with LAIP’s Chairman, Board members and executive management in attendance. Representatives of the Regional African Satellite Communications Organisation (RASCOM) and European group Thales joined by video link.

RASCOMSTAR-QAF operates the RASCOM-QAF1R communications satellite, launched in 2010. LAIP holds a 63% stake in the company, with RASCOM owning 25% and Thales the remaining 12%.

The meeting forms part of LAIP’s continuing oversight of its subsidiaries and investments. This work supports its efforts to strengthen governance, achieve its strategic objectives and safeguard its overseas investments while improving their operational and financial performance.

High Committee for the Transit Corridors Continues to Monitor Project Progress

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The High Committee for the Libya–Africa Transit Corridors Project held its regular meeting on Tuesday, 15 September 2026, at the headquarters of the Libya Africa Investment Portfolio (LAIP), to review the various aspects relating to the project.

The meeting forms part of the Committee’s continuing efforts to advance the project towards its further stages, build on the progress achieved to date, and strengthen ongoing monitoring and co-ordination, institutional integration, and frameworks for co-operation with relevant parties. This supports the continuation of work across the project’s various phases and builds on the growing momentum surrounding it.

The Committee’s work continues in accordance with the project’s strategic objectives and technical plans. The project extends from the ports of Benghazi and Misurata towards southern Libya and onwards to Sudan, Niger, Chad and Nigeria.

This vision is underpinned by integrated infrastructure across transport, energy and telecommunications, strengthening trade and logistics, contributing to the diversification of the economic base, and reinforcing Libya’s position as a regional and global logistics hub.

Libya Africa Construction and Contracting holds General Assembly meeting

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The Ordinary and Extraordinary General Assembly of Libya Africa Construction and Contracting Company, a wholly owned subsidiary of the Libya Africa Investment Portfolio (LAIP), met on Thursday, 10 September 2026, at LAIP’s headquarters.

The General Assembly considered a number of items on the agenda, including the Board of Directors’ report and the Supervisory Board’s report. It also reviewed and approved the company’s financial statements and auditors’ reports, and approved the appointment of an external audit firm to audit the company’s accounts.

The Assembly also discussed a number of matters relating to the company’s operations and adopted the necessary resolutions.

The meeting forms part of LAIP’s ongoing oversight of its subsidiaries and its wider efforts to strengthen corporate governance and sound management practices across its portfolio companies.

LAIP Board of Directors holds fifth meeting of 2026

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The Board of Directors of the Libya Africa Investment Portfolio (LAIP) held its fifth meeting of 2026 at 11.00 am on Wednesday, 19 August, at LAIP’s headquarters in Tripoli. The Board discussed a number of items on the meeting agenda.

The discussions covered several matters relating to the organisation and progress of work across LAIP, as part of ongoing efforts to strengthen institutional performance. The meeting also included a review of the activities of a number of LAIP’s subsidiaries.

The meeting forms part of the Board’s continued oversight of LAIP’s operations and investments, supporting the implementation of its strategic objectives and reinforcing the principles of good governance.

LapTech General Assembly reviews performance and future plans, approves key resolutions

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The Ordinary General Assembly of LapTech for Information and Communications Technology, a subsidiary of the Libya Africa Investment Portfolio (LAIP), met on Sunday, 9 August 2026, at LAIP’s headquarters in Tripoli to review the company’s performance, future plans and a number of financial and organisational matters.

The meeting reviewed reports from the Board of Directors and executive management on LapTech’s activities during 2025 and the first half of 2026. The General Assembly also considered the Supervisory Board’s report and received an update on progress in implementing resolutions and recommendations from previous meetings.

The company’s business plan for 2026 and 2027 was also presented, covering its operational priorities and plans for further development.

On financial and organisational matters, the General Assembly approved the appointment of an external auditor and the related audit fees for the 2024–2026 period. It also approved the company’s revised organisational structure.

Members of the General Assembly held detailed discussions on LapTech’s current operations and its priorities for the period ahead. The Assembly reaffirmed its support for the company as it works to strengthen its position in Libya’s information and communications technology sector and further develop the services it provides to national institutions.

This work reflects LAIP’s wider focus on strengthening its domestic investments, supporting the growth and development of its subsidiaries, and contributing to Libya’s digital transformation.

The meeting is part of LAIP’s ongoing programme of General Assembly meetings for its subsidiary companies, providing an opportunity to review performance, follow up on key decisions and discuss future priorities.

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