UPDATED: Astro Project Holdings to Manage SGRF Investments in Africa and Asia

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Astro Project Holdings Ltd (Astro), a wholly owned subsidiary of the State General Reserve Fund (SGRF), has opened a full-fledged office in Mauritius to manage SGRF’s investments in the Asia and Africa.

The official launching ceremony was held at Grand Baie Business Quarter (GBBQ) at Grand Baie. The new office will be administered by a professional specialty team with wealth of knowledge and several years of experience.

Jamila Al-Jabri, Director of Finance at SGRF and Abdullah Al Hoqani were present at the official opening. On this accession, Jamila Al Jabri said: “Opening of SGRF’s office, under the name of Astro Project Holdings Ltd, in Mauritius is another key milestone for us in our endeavour to be compliant with international regulations and

shows our faith in the Mauritius jurisdiction.  Special thanks to the SGRF Finance team who have worked diligently towards this fantastic achievement.”

The opening of the new office comes in cooperation with Sunibel Corporate Services, a Corporate Service Provider of a multi-disciplinary financial ecosystem network

consisting of Asset Manager, Investment Advisory, Private Wealth Management, Family Office and Information technology Services.

“Sunibel is delighted to have assisted SGRF in its capacity as a Management Company, to open an operational office in Mauritius to manage its investments in Africa and Asia.  This further consolidates the position of Mauritius as an International Financial Centre (IFC) of choice for institutional investors looking to set up a regional base,” said Nitin Collappen, Managing Director of Sunibel.

AMG Solutions Ltd (AMG), a tax and corporate advisory firm has been advising SGRF, about advantages of using Mauritius as a regional platform. Amit Gupta, Managing Director of AMG  affirmed that Mauritius has consistently proved its relevance in attracting large investors due to its stable and progressive policies, which

provides a business friendly environment.`

It is worth mentioning that SGRF has opened two other offices in the Europe and Africa regions. Most recently, SGRF established its Luxembourg based office under the name of Luxembourg Acquisition Company Sarl. Opening of the new offices reflects SGRF’s new investment strategy that focuses in Asia and Africa regions. SGRF is actively sourcing for opportunities in sectors like Ports & Logistics, Mining, Food industries, and Health Care.

EDITOR’S NOTE

This article has been amended to accommodate a few new insights.

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